376,601 Shares in Amcor plc (NYSE:AMCR) Acquired by XY Capital Ltd

16 Jan 2024, 22:32 by Michael Walen · The Markets Daily

XY Capital Ltd purchased a new position in shares of Amcor plc (NYSE:AMCR – Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 376,601 shares of the company’s stock, valued at approximately $3,450,000. Amcor comprises approximately 2.0% of XY Capital Ltd’s portfolio, making the stock its 12th largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Money Concepts Capital Corp bought a new stake in Amcor during the 4th quarter valued at $31,000. Clear Street Markets LLC raised its position in Amcor by 93.6% during the 1st quarter. Clear Street Markets LLC now owns 2,913 shares of the company’s stock valued at $33,000 after purchasing an additional 1,408 shares in the last quarter. Quent Capital LLC increased its holdings in shares of Amcor by 99.6% in the 3rd quarter. Quent Capital LLC now owns 3,814 shares of the company’s stock valued at $35,000 after acquiring an additional 1,903 shares during the period. West Tower Group LLC purchased a new position in shares of Amcor in the 2nd quarter valued at $40,000. Finally, Chilton Capital Management LLC purchased a new position in shares of Amcor in the 1st quarter valued at $63,000. 49.52% of the stock is owned by institutional investors.

Insider Buying and Selling at Amcor

In other news, Director Arun Nayar sold 10,261 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $9.39, for a total value of $96,350.79. Following the completion of the sale, the director now directly owns 52,527 shares in the company, valued at $493,228.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

AMCR has been the topic of several research analyst reports. Truist Financial dropped their price target on Amcor from $11.00 to $10.00 and set a “hold” rating on the stock in a research note on Friday, November 3rd. TheStreet downgraded Amcor from a “b-” rating to a “c+” rating in a research note on Wednesday, September 27th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $10.40.

Read Our Latest Analysis on Amcor

Amcor Stock Performance

Amcor stock traded down $0.17 during trading hours on Tuesday, hitting $9.58. 7,551,306 shares of the stock traded hands, compared to its average volume of 8,852,061. The stock has a market capitalization of $13.86 billion, a price-to-earnings ratio of 14.77, a P/E/G ratio of 6.44 and a beta of 0.81. The firm’s 50 day moving average price is $9.51 and its 200-day moving average price is $9.45. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.27 and a quick ratio of 0.74. Amcor plc has a 1 year low of $8.45 and a 1 year high of $12.31.

Amcor (NYSE:AMCR – Get Free Report) last issued its quarterly earnings data on Tuesday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. The business had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.35 billion. Amcor had a return on equity of 24.92% and a net margin of 6.72%. As a group, equities analysts expect that Amcor plc will post 0.69 EPS for the current fiscal year.

Amcor Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 12th. Investors of record on Wednesday, November 22nd were issued a $0.125 dividend. This is a boost from Amcor’s previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, November 21st. This represents a $0.50 dividend on an annualized basis and a yield of 5.22%. Amcor’s dividend payout ratio is presently 75.76%.

Amcor Company Profile

(Free Report)

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.