Y Intercept Hong Kong Ltd Has $8.52 Million Position in Amcor PLC $AMCR

Y Intercept Hong Kong Ltd grew its stake in Amcor PLC (NYSE:AMCR) by 784.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,021,907 shares of the company’s stock after purchasing an additional 906,415 shares during the period. Y Intercept Hong Kong Ltd owned about 0.22% of Amcor worth $8,523,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Laurel Oak Wealth Management LLC acquired a new stake in shares of Amcor in the 4th quarter valued at approximately $178,000. FineMark National Bank & Trust boosted its stake in shares of Amcor by 0.6% in the 4th quarter. FineMark National Bank & Trust now owns 80,503 shares of the company’s stock valued at $671,000 after purchasing an additional 503 shares in the last quarter. Federation des caisses Desjardins du Quebec boosted its stake in shares of Amcor by 34.2% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 121,352 shares of the company’s stock valued at $1,012,000 after purchasing an additional 30,901 shares in the last quarter. HRT Financial LP boosted its position in Amcor by 1,939.2% during the 4th quarter. HRT Financial LP now owns 4,123,053 shares of the company’s stock worth $34,386,000 after buying an additional 3,920,862 shares during the period. Finally, Brooklyn Investment Group boosted its position in Amcor by 167.1% during the 4th quarter. Brooklyn Investment Group now owns 42,910 shares of the company’s stock worth $363,000 after buying an additional 26,847 shares during the period. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMCR has been the topic of several recent research reports. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Amcor in a research report on Wednesday, April 1st. They set a “buy” rating and a $50.00 target price on the stock. Truist Financial reiterated a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Citigroup cut their target price on shares of Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, Wells Fargo & Company set a $41.00 target price on shares of Amcor and gave the stock an “equal weight” rating in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Amcor presently has an average rating of “Moderate Buy” and a consensus target price of $49.33.

Amcor Stock Up 1.6%

NYSE:AMCR opened at $40.54 on Friday. The firm’s 50 day simple moving average is $39.30 and its 200 day simple moving average is $42.01. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. Amcor PLC has a one year low of $36.25 and a one year high of $50.94. The company has a market cap of $18.74 billion, a PE ratio of 28.35, a P/E/G ratio of 1.21 and a beta of 0.64.

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

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th will be given a $0.65 dividend. The ex-dividend date is Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.4%. Amcor’s payout ratio is 181.82%.

About Amcor

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.