GAMMA Investing LLC Decreases Stock Holdings in Amcor plc (NYSE:AMCR)

GAMMA Investing LLC lessened its holdings in Amcor plc (NYSE:AMCR) by 12.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 39,860 shares of the company’s stock after selling 5,629 shares during the quarter. GAMMA Investing LLC’s holdings in Amcor were worth $375,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Larson Financial Group LLC increased its holdings in Amcor by 3,410.3% in the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after purchasing an additional 2,319 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of Amcor in the third quarter worth about $35,000. ORG Wealth Partners LLC acquired a new stake in shares of Amcor in the third quarter valued at about $35,000. True Wealth Design LLC raised its holdings in shares of Amcor by 3,794.1% during the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after buying an additional 3,225 shares during the period. Finally, Signaturefd LLC lifted its position in Amcor by 296.3% during the 3rd quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock worth $49,000 after acquiring an additional 3,242 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Stock Up 1.1 %

NYSE:AMCR opened at $9.43 on Tuesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. The company has a market capitalization of $13.63 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 1.80 and a beta of 0.84. Amcor plc has a one year low of $8.78 and a one year high of $11.48. The stock has a 50-day simple moving average of $10.06 and a 200 day simple moving average of $10.46.

Amcor (NYSE:AMCR) last issued its earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $3.35 billion during the quarter, compared to analyst estimates of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The business’s revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 EPS. Sell-side analysts predict that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were issued a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.41%. This is a boost from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, November 21st. Amcor’s dividend payout ratio is 96.23%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $11.00 to $12.00 in a report on Monday. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a research note on Wednesday, December 11th. Finally, Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and boosted their price target for the stock from $10.00 to $12.00 in a research note on Monday. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.46.

Amcor Company 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.