Amcor PLC $AMCR Shares Purchased by Tidal Investments LLC

Tidal Investments LLC increased its holdings in shares of Amcor PLC (NYSE:AMCR) by 18.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 236,370 shares of the company’s stock after buying an additional 36,634 shares during the quarter. Tidal Investments LLC’s holdings in Amcor were worth $10,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in AMCR. State Street Corp raised its stake in 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 buying an additional 2,432,340 shares during the last quarter. M&G PLC raised its position in shares of Amcor by 6.1% in the 4th quarter. M&G PLC now owns 114,989,595 shares of the company’s stock valued at $919,917,000 after purchasing an additional 6,655,611 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake 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 worth $701,356,000 after purchasing an additional 2,036,667 shares in the last quarter. Geode Capital Management LLC boosted its stake in Amcor by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 64,202,708 shares of the company’s stock worth $533,487,000 after purchasing an additional 262,418 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its position in Amcor by 6.6% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 59,866,243 shares of the company’s stock worth $499,284,000 after purchasing an additional 3,694,656 shares during the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMCR has been the topic of a number of recent analyst reports. BMO Capital Markets started coverage on shares of Amcor in a research note on Thursday, July 16th. They set a “market perform” rating and a $47.00 price target on the stock. Bank of America boosted their price objective on shares of Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Jefferies Financial Group set a $44.92 target price on Amcor and gave the company a “hold” rating in a research report on Tuesday, July 21st. UBS Group started coverage on Amcor in a research note on Tuesday, August 11th. They issued a “buy” rating and a $56.00 target price for the company. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Amcor in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.49.

Amcor Stock Performance

AMCR opened at $42.35 on Friday. Amcor PLC has a 12-month low of $36.25 and a 12-month high of $50.94. The company has a current ratio of 1.25, a quick ratio of 0.76 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $19.58 billion, a PE ratio of 17.95, a P/E/G ratio of 1.68 and a beta of 0.60. The firm has a 50 day moving average of $45.35 and a two-hundred day moving average of $42.40.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Thursday, August 13th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.19 by $0.04. The business had revenue of $6.40 billion for the quarter, compared to the consensus estimate of $6.05 billion. Amcor had a net margin of 4.71% and a return on equity of 15.92%. The business’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 EPS. On average, analysts anticipate that Amcor PLC will post 2.58 EPS for the current year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Friday, September 4th will be given a dividend of $0.65 per share. The ex-dividend date is Friday, September 4th. This represents a $2.60 dividend on an annualized basis and a yield of 6.1%. Amcor’s payout ratio is currently 110.17%.

About Amcor

Amcor plc (NYSE: AMCR) is a global packaging company that develops and manufactures packaging products for the food, beverage, pharmaceutical, medical, personal care, household and other consumer and industrial markets. Its portfolio is designed to help protect products, extend shelf life, support transportation and improve convenience and sustainability.

The company produces flexible packaging, including films, pouches, bags, lidding and specialty laminates, as well as rigid packaging such as bottles, containers, closures and other molded products.