Y Intercept Hong Kong Ltd Cuts Stock Position in Amcor PLC $AMCR

by · The Cerbat Gem

Y Intercept Hong Kong Ltd lessened its holdings in shares of Amcor PLC (NYSE:AMCR – Free Report) by 88.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 114,693 shares of the company’s stock after selling 907,214 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Amcor were worth $4,559,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. State Street Corp grew its holdings in shares of Amcor by 1.7% in the fourth quarter. State Street Corp now owns 141,509,581 shares of the company’s stock valued at $1,180,190,000 after purchasing an additional 2,432,340 shares in the last quarter. M&G PLC lifted its holdings in Amcor by 6.1% during the 4th quarter. M&G PLC now owns 114,989,595 shares of the company’s stock worth $919,917,000 after buying an additional 6,655,611 shares in the last quarter. Vanguard Group Inc. boosted its position in Amcor by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock valued at $945,222,000 after buying an additional 1,845,627 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Amcor by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 84,095,399 shares of the company’s stock valued at $701,356,000 after buying an additional 2,036,667 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Amcor by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 64,202,708 shares of the company’s stock worth $533,487,000 after acquiring an additional 262,418 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Price Performance

AMCR stock opened at $44.98 on Monday. The business has a 50 day moving average price of $39.75 and a 200 day moving average price of $42.05. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. The stock has a market cap of $20.80 billion, a price-to-earnings ratio of 31.46, a PEG ratio of 1.27 and a beta of 0.62. Amcor PLC has a fifty-two week low of $36.25 and a fifty-two week high of $50.94.

Amcor (NYSE:AMCR – Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, meeting the consensus estimate of $0.96. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The company had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same period in the prior year, the firm posted $0.90 earnings per share. The firm’s revenue was up 77.4% on a year-over-year basis. Equities research analysts anticipate that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 5.8%. The ex-dividend date was Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is currently 181.82%.

Wall Street Analysts Forecast Growth

AMCR has been the topic of a number of recent research reports. Wells Fargo & Company set a $41.00 price objective on Amcor and gave the stock an “equal weight” rating in a research report on Wednesday, May 20th. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Truist Financial reissued a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Amcor in a report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Amcor currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

View Our Latest Stock Report on Amcor

Amcor Company Profile

(Free Report)

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.

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