13,724 Shares in Amcor PLC $AMCR Acquired by Davis Capital Management

Davis Capital Management acquired a new position in Amcor PLC (NYSE:AMCR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,724 shares of the company’s stock, valued at approximately $574,000.

Several other hedge funds also recently modified their holdings of AMCR. Farther Finance Advisors LLC grew its stake in shares of Amcor by 171.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 32,695 shares of the company’s stock worth $1,369,000 after acquiring an additional 20,635 shares in the last quarter. Epiq Partners LLC bought a new position in shares of Amcor during the third quarter valued at about $239,000. Versant Capital Management Inc boosted its holdings in Amcor by 51.2% during the third quarter. Versant Capital Management Inc now owns 7,208 shares of the company’s stock worth $302,000 after purchasing an additional 2,441 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Amcor by 8.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 409,627 shares of the company’s stock worth $18,061,000 after purchasing an additional 30,657 shares in the last quarter. Finally, Silicon Valley Capital Partners increased its stake in Amcor by 27.0% in the 2nd quarter. Silicon Valley Capital Partners now owns 237,654 shares of the company’s stock valued at $10,302,000 after buying an additional 50,510 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Analyst Ratings Changes

AMCR has been the topic of a number of research analyst reports. Citigroup restated a “buy” rating and issued a $52.00 target price (up from $47.00) on shares of Amcor in a research note on Friday, August 14th. BMO Capital Markets began coverage on Amcor in a research report on Thursday, July 16th. They issued a “market perform” rating and a $47.00 price objective on the stock. UBS Group assumed coverage on Amcor in a research note on Tuesday, August 11th. They issued a “buy” rating and a $56.00 price objective for the company. Truist Financial set a $51.00 target price on Amcor in a research report on Tuesday, August 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Amcor in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.49.

Amcor Stock Performance

NYSE AMCR traded up $0.58 on Thursday, hitting $41.84. 4,923,946 shares of the stock traded hands, compared to its average volume of 4,626,813. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.76 and a current ratio of 1.25. The business’s fifty day moving average is $44.75 and its two-hundred day moving average is $42.11. Amcor PLC has a 12 month low of $36.25 and a 12 month high of $50.94. The firm has a market capitalization of $19.34 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 2.28 and a beta of 0.58.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Thursday, August 13th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.04. The company had revenue of $6.40 billion during the quarter, compared to the consensus estimate of $6.05 billion. Amcor had a return on equity of 15.92% and a net margin of 4.71%.The firm’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.20 EPS. As a group, equities analysts anticipate that Amcor PLC will post 1.84 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Friday, September 4th were given a $0.65 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $2.60 annualized dividend and a dividend yield of 6.2%. Amcor’s payout ratio is 110.17%.

Amcor Profile

Amcor plc (NYSE: AMCR) is a global packaging company that develops and produces packaging for food, beverages, pharmaceutical and medical products, personal care items, household goods and other consumer and industrial applications. Its portfolio includes flexible packaging, rigid containers, films, laminates, bags, bottles, closures, cartons and specialty packaging solutions.

The company works with brand owners and manufacturers to design packaging that supports product protection, shelf life, convenience and presentation.