Y Intercept Hong Kong Ltd Has $8.52 Million Stake in Amcor PLC $AMCR

Y Intercept Hong Kong Ltd raised its position in Amcor PLC (NYSE:AMCR) by 784.8% during the fourth quarter, Holdings Channel reports. The firm owned 1,021,907 shares of the company’s stock after purchasing an additional 906,415 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Amcor were worth $8,523,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMCR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Amcor by 8.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,381 shares of the company’s stock worth $2,596,000 after purchasing an additional 20,757 shares during the period. Focus Partners Wealth lifted its position in shares of Amcor by 11.3% in the 1st quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock worth $418,000 after purchasing an additional 4,396 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Amcor in the 2nd quarter worth approximately $138,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Amcor in the 2nd quarter worth approximately $6,426,000. Finally, CW Advisors LLC acquired a new position in shares of Amcor during the 2nd quarter valued at $228,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Amcor in a research report on Wednesday, April 1st. They set a “buy” rating and a $50.00 target price on the stock. Truist Financial reiterated a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Wells Fargo & Company set a $41.00 target price on shares of Amcor and gave the company an “equal weight” rating in a research report on Wednesday, May 20th. Finally, Citigroup dropped their target price on shares of Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.33.

Amcor Stock Up 1.6%

Amcor stock opened at $40.54 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. Amcor PLC has a 12-month low of $36.25 and a 12-month high of $50.94. The firm’s fifty day moving average is $39.30 and its 200 day moving average is $42.01. The company has a market capitalization of $18.74 billion, a PE ratio of 28.35, a PEG ratio of 1.21 and a beta of 0.64.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, meeting analysts’ consensus estimates of $0.96. The business had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.71 billion. Amcor had a net margin of 3.06% and a return on equity of 14.55%. Amcor’s quarterly revenue was up 77.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.90 EPS. As a group, sell-side analysts predict that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date is Thursday, May 28th. Amcor’s payout ratio is 181.82%.

Amcor Company Profile

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.