Blueshift Asset Management LLC Makes New Investment in Amcor PLC $AMCR

Blueshift Asset Management LLC bought a new position in Amcor PLC (NYSE:AMCR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 62,045 shares of the company’s stock, valued at approximately $570,000.

Several other large investors have also modified their holdings of the stock. Avantax Advisory Services Inc. increased its holdings in Amcor by 19.6% in the first quarter. Avantax Advisory Services Inc. now owns 22,940 shares of the company’s stock valued at $223,000 after buying an additional 3,766 shares during the last quarter. Cetera Investment Advisers grew its position in shares of Amcor by 14.5% in the 1st quarter. Cetera Investment Advisers now owns 303,458 shares of the company’s stock worth $2,944,000 after acquiring an additional 38,353 shares in the last quarter. LPL Financial LLC grew its position in shares of Amcor by 12.8% in the 1st quarter. LPL Financial LLC now owns 2,007,385 shares of the company’s stock worth $19,472,000 after acquiring an additional 227,206 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Amcor by 463.9% in the 1st quarter. Mackenzie Financial Corp now owns 103,952 shares of the company’s stock valued at $1,008,000 after acquiring an additional 85,517 shares during the last quarter. Finally, Natixis Advisors LLC raised its position in shares of Amcor by 30.3% during the 1st quarter. Natixis Advisors LLC now owns 677,108 shares of the company’s stock valued at $6,568,000 after acquiring an additional 157,334 shares in the last quarter. Institutional investors own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on AMCR shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $11.50 price objective on shares of Amcor in a report on Wednesday, November 12th. JPMorgan Chase & Co. assumed coverage on shares of Amcor in a research report on Friday, September 19th. They issued an “overweight” rating and a $10.00 price target on the stock. Stifel Nicolaus raised shares of Amcor from a “hold” rating to a “buy” rating and set a $10.20 price objective for the company in a research report on Friday, October 10th. Royal Bank Of Canada initiated coverage on shares of Amcor in a report on Monday, September 22nd. They issued a “sector perform” rating on the stock. Finally, Robert W. Baird decreased their target price on Amcor from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Friday, August 15th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.91.

Amcor Trading Down 1.5%

Shares of AMCR stock opened at $8.42 on Wednesday. Amcor PLC has a 1 year low of $7.66 and a 1 year high of $10.62. The firm has a market capitalization of $19.40 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 0.84 and a beta of 0.68. The stock has a fifty day moving average of $8.22 and a two-hundred day moving average of $8.77. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.62 and a current ratio of 1.04.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. The business had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.77 billion. Amcor had a net margin of 3.34% and a return on equity of 17.35%. The company’s revenue was up 71.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.16 earnings per share. As a group, research analysts expect that Amcor PLC will post 0.74 EPS for the current year.

Amcor Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Friday, November 28th will be paid a dividend of $0.13 per share. This is a boost from Amcor’s previous quarterly dividend of $0.13. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date is Friday, November 28th. Amcor’s dividend payout ratio (DPR) is 152.94%.

Amcor Profile

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.