OLD Mission Capital LLC Has $8.25 Million Stock Position in Amcor plc (NYSE:AMCR)

OLD Mission Capital LLC raised its position in shares of Amcor plc (NYSE:AMCR) by 1,011.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 876,214 shares of the company’s stock after purchasing an additional 797,367 shares during the quarter. OLD Mission Capital LLC’s holdings in Amcor were worth $8,245,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AMCR. Vanguard Group Inc. boosted its stake in shares of Amcor by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company’s stock valued at $555,064,000 after purchasing an additional 1,249,868 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Amcor by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company’s stock valued at $433,358,000 after acquiring an additional 2,862,471 shares during the last quarter. Geode Capital Management LLC grew its holdings in Amcor by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 36,317,037 shares of the company’s stock worth $410,144,000 after acquiring an additional 697,320 shares during the period. Wellington Management Group LLP raised its position in shares of Amcor by 25.1% in the 4th quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company’s stock worth $263,215,000 after acquiring an additional 5,614,233 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Amcor by 1.0% in the 4th quarter. JPMorgan Chase & Co. now owns 8,881,049 shares of the company’s stock valued at $83,571,000 after purchasing an additional 86,456 shares during the period. Institutional investors own 45.14% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and lifted their price objective for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and increased their target price for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Finally, Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective on the stock in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Amcor presently has an average rating of “Moderate Buy” and a consensus price target of $11.46.

Amcor Stock Up 0.6 %

Shares of NYSE AMCR opened at $9.70 on Tuesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. The company has a 50-day moving average price of $9.93 and a 200-day moving average price of $10.22. The stock has a market capitalization of $14.01 billion, a P/E ratio of 17.63, a P/E/G ratio of 1.96 and a beta of 0.80. Amcor plc has a 1 year low of $8.80 and a 1 year high of $11.48.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 EPS. On average, equities research analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th were given a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor’s payout ratio is currently 92.73%.

Insider Buying and Selling at Amcor

In other news, Director Achal Agarwal acquired 10,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the purchase, the director now owns 88,967 shares in the company, valued at approximately $898,566.70. This represents a 12.66 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.60% of the company’s stock.

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.