118,545 Shares in Amcor PLC $AMCR Purchased by Hudson Edge Investment Partners Inc.

Hudson Edge Investment Partners Inc. purchased a new stake in shares of Amcor PLC (NYSE:AMCR) during the first quarter, HoldingsChannel.com reports. The firm purchased 118,545 shares of the company’s stock, valued at approximately $4,712,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AdvisorNet Financial Inc bought a new stake in shares of Amcor in the 1st quarter worth approximately $25,000. DV Equities LLC bought a new position in shares of Amcor during the fourth quarter valued at approximately $27,000. Brown Lisle Cummings Inc. raised its holdings in shares of Amcor by 137.9% during the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after acquiring an additional 2,000 shares in the last quarter. Larson Financial Group LLC lifted its stake in Amcor by 46.1% in the fourth quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock worth $33,000 after acquiring an additional 1,257 shares during the period. Finally, N.E.W. Advisory Services LLC lifted its stake in Amcor by 10.1% in the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock worth $34,000 after acquiring an additional 373 shares during the period. Institutional investors own 45.14% of the company’s stock.

Amcor Trading Down 0.0%

AMCR opened at $44.98 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 52 week low of $36.25 and a 52 week high of $50.94. The stock has a market cap of $20.80 billion, a PE ratio of 31.46, a PEG ratio of 1.27 and a beta of 0.62. The business has a 50 day moving average of $39.75 and a 200-day moving average of $42.04.

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

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date was Thursday, May 28th. Amcor’s payout ratio is 181.82%.

Analysts Set New Price Targets

A number of research analysts have issued reports on AMCR shares. Truist Financial reissued a “buy” rating and set a $51.00 price objective (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Citigroup dropped their target price on shares of Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Amcor in a research note on Wednesday, April 1st. They set a “buy” rating and a $50.00 target price on the stock. Wells Fargo & Company set a $41.00 price target on shares of Amcor and gave the company an “equal weight” rating in a research report on Wednesday, May 20th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note 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 given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.00.

Amcor 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.