Rakuten Securities Inc. Has $29,000 Stock Holdings in Amcor PLC (NYSE:AMCR)

Rakuten Securities Inc. boosted its stake in shares of Amcor PLC (NYSE:AMCR) by 18,725.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 3,012 shares of the company’s stock after buying an additional 2,996 shares during the period. Rakuten Securities Inc.’s holdings in Amcor were worth $29,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of Amcor by 4.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 81,433 shares of the company’s stock worth $761,000 after acquiring an additional 3,751 shares during the period. Van ECK Associates Corp bought a new position in Amcor during the 4th quarter worth about $2,605,000. Asset Management One Co. Ltd. increased its holdings in Amcor by 9.1% during the 4th quarter. Asset Management One Co. Ltd. now owns 567,573 shares of the company’s stock worth $5,358,000 after purchasing an additional 47,348 shares in the last quarter. Kestra Investment Management LLC raised its stake in shares of Amcor by 23.5% in the 4th quarter. Kestra Investment Management LLC now owns 23,916 shares of the company’s stock valued at $225,000 after purchasing an additional 4,547 shares during the period. Finally, Convergence Investment Partners LLC bought a new stake in shares of Amcor in the fourth quarter valued at about $879,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Price Performance

NYSE:AMCR opened at $9.07 on Thursday. Amcor PLC has a 52-week low of $8.37 and a 52-week high of $11.48. The company has a market cap of $13.10 billion, a P/E ratio of 16.19, a P/E/G ratio of 2.52 and a beta of 0.73. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.16 and a current ratio of 1.70. The stock’s 50-day simple moving average is $9.24 and its 200 day simple moving average is $9.59.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. Amcor had a return on equity of 26.49% and a net margin of 5.99%. The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same quarter in the previous year, the firm earned $0.13 EPS. The business’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, sell-side analysts forecast that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 22nd were issued a dividend of $0.1275 per share. The ex-dividend date was Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a yield of 5.63%. Amcor’s payout ratio is 91.07%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AMCR. Truist Financial reduced their price objective on Amcor from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Raymond James Financial assumed coverage on Amcor in a research report on Tuesday, April 22nd. They set a “market perform” rating for the company. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $11.31.

About Amcor

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.