Amcor plc (NYSE:AMCR) Stock Position Raised by AlphaCrest Capital Management LLC

Posted by Defense World Staff on Mar 9th, 2023

AlphaCrest Capital Management LLC lifted its stake in shares of Amcor plc (NYSE:AMCR – Get Rating) by 46.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,181 shares of the company’s stock after acquiring an additional 18,256 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in Amcor were worth $614,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Royal Bank of Canada boosted its stake in shares of Amcor by 27.4% during the 3rd quarter. Royal Bank of Canada now owns 1,707,336 shares of the company’s stock worth $18,321,000 after acquiring an additional 367,151 shares in the last quarter. Allstate Corp boosted its stake in shares of Amcor by 30.8% during the 3rd quarter. Allstate Corp now owns 62,556 shares of the company’s stock worth $671,000 after acquiring an additional 14,730 shares in the last quarter. Virtus ETF Advisers LLC bought a new stake in shares of Amcor during the 3rd quarter worth $577,000. Point72 Hong Kong Ltd bought a new stake in shares of Amcor during the 3rd quarter worth $2,293,000. Finally, Verition Fund Management LLC lifted its holdings in shares of Amcor by 440.8% in the third quarter. Verition Fund Management LLC now owns 76,503 shares of the company’s stock valued at $821,000 after purchasing an additional 62,358 shares in the last quarter. 46.79% of the stock is owned by institutional investors.

Amcor Price Performance

Shares of NYSE:AMCR opened at $10.95 on Thursday. The company has a current ratio of 1.33, a quick ratio of 0.76 and a debt-to-equity ratio of 1.55. Amcor plc has a 1 year low of $10.42 and a 1 year high of $13.60. The business has a fifty day simple moving average of $11.68 and a 200 day simple moving average of $11.70. The firm has a market cap of $16.27 billion, a price-to-earnings ratio of 15.21, a P/E/G ratio of 3.29 and a beta of 0.81.

Amcor (NYSE:AMCR – Get Rating) last announced its quarterly earnings data on Tuesday, February 7th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. Amcor had a return on equity of 28.65% and a net margin of 7.14%. The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.64 billion. As a group, sell-side analysts predict that Amcor plc will post 0.77 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 21st. Investors of record on Wednesday, March 1st will be issued a dividend of $0.1225 per share. The ex-dividend date is Tuesday, February 28th. This represents a $0.49 annualized dividend and a dividend yield of 4.47%. Amcor’s dividend payout ratio is 68.06%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. TheStreet upgraded Amcor from a “c+” rating to a “b-” rating in a report on Thursday, November 10th. Morgan Stanley lowered Amcor from an “equal weight” rating to an “underweight” rating in a report on Wednesday, February 8th. Finally, JPMorgan Chase & Co. lowered Amcor from an “overweight” rating to a “neutral” rating and set a $11.70 target price for the company. in a report on Tuesday, January 24th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $12.00.

Insider Buying and Selling

In related news, Director Nicholas T. Long sold 5,372 shares of the stock in a transaction on Monday, December 12th. The stock was sold at an average price of $12.40, for a total transaction of $66,612.80. Following the completion of the sale, the director now directly owns 29,769 shares in the company, valued at $369,135.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.61% of the stock is owned by corporate insiders.

About Amcor

(Get Rating)

Amcor Plc operates as a holding company, which engages in the consumer packaging business. It operates through the Flexibles and Rigid Packaging segments. The Flexibles segment develops and supplies flexible packaging globally. The Rigid Plastics segment manufactures rigid plastic containers and related products.