Amcor plc (NYSE:AMCR) Shares Bought by Dark Forest Capital Management LP

Dark Forest Capital Management LP grew its stake in Amcor plc (NYSE:AMCR) by 35.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 20,304 shares of the company’s stock after purchasing an additional 5,341 shares during the period. Dark Forest Capital Management LP’s holdings in Amcor were worth $199,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. NorthRock Partners LLC grew its position in Amcor by 2.0% during the first quarter. NorthRock Partners LLC now owns 54,237 shares of the company’s stock valued at $516,000 after buying an additional 1,050 shares during the period. Czech National Bank boosted its stake in shares of Amcor by 0.5% during the 1st quarter. Czech National Bank now owns 254,309 shares of the company’s stock worth $2,418,000 after acquiring an additional 1,166 shares in the last quarter. Quent Capital LLC grew its position in shares of Amcor by 51.8% during the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after acquiring an additional 1,241 shares during the period. Arkadios Wealth Advisors increased its stake in shares of Amcor by 5.3% in the 2nd quarter. Arkadios Wealth Advisors now owns 25,597 shares of the company’s stock valued at $250,000 after purchasing an additional 1,298 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in Amcor by 38.7% in the 2nd quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock worth $46,000 after purchasing an additional 1,299 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on AMCR shares. Stifel Nicolaus started coverage on Amcor in a research report on Tuesday, July 9th. They issued a “hold” rating and a $10.80 price objective for the company. Citigroup boosted their price target on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Robert W. Baird lifted their target price on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. boosted their target price on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Finally, Wells Fargo & Company raised their price target on shares of Amcor from $9.80 to $10.50 and gave the company an “equal weight” rating in a research note on Friday, August 16th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $10.73.

Amcor Price Performance

Shares of NYSE AMCR opened at $11.33 on Tuesday. The firm has a 50-day simple moving average of $10.86 and a 200-day simple moving average of $10.10. The company has a quick ratio of 0.69, a current ratio of 1.17 and a debt-to-equity ratio of 1.67. The stock has a market capitalization of $16.38 billion, a price-to-earnings ratio of 25.18, a price-to-earnings-growth ratio of 2.73 and a beta of 0.85. Amcor plc has a 52 week low of $8.45 and a 52 week high of $11.48.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Thursday, August 15th. The company reported $0.21 EPS for the quarter, meeting analysts’ consensus estimates of $0.21. The company had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $1.30 billion. Amcor had a net margin of 5.35% and a return on equity of 25.45%. Amcor’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.19 EPS. On average, equities analysts predict that Amcor plc will post 0.75 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Friday, September 6th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.50 dividend on an annualized basis and a yield of 4.41%. Amcor’s payout ratio is 111.11%.

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.