NEOS Investment Management LLC Boosts Position in Amcor plc (NYSE:AMCR)

NEOS Investment Management LLC lifted its holdings in shares of Amcor plc (NYSE:AMCR) by 31.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,013 shares of the company’s stock after acquiring an additional 21,157 shares during the quarter. NEOS Investment Management LLC’s holdings in Amcor were worth $828,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Larson Financial Group LLC boosted its position in Amcor by 3,410.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after acquiring an additional 2,319 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Amcor by 247.4% in the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock valued at $35,000 after purchasing an additional 2,660 shares during the period. True Wealth Design LLC boosted its position in shares of Amcor by 3,794.1% during the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after purchasing an additional 3,225 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Amcor in the fourth quarter worth $44,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Amcor in the fourth quarter worth $60,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

Shares of NYSE AMCR opened at $9.64 on Monday. The firm has a market cap of $13.93 billion, a P/E ratio of 17.52, a PEG ratio of 1.96 and a beta of 0.80. Amcor plc has a twelve month low of $8.80 and a twelve month high of $11.48. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The company has a 50 day moving average of $9.93 and a 200 day moving average of $10.23.

Amcor (NYSE:AMCR) last posted its earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the company earned $0.09 EPS. As a group, research analysts expect that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.29%. The ex-dividend date was Wednesday, February 26th. Amcor’s dividend payout ratio is currently 92.73%.

Insider Activity

In related news, Director Achal Agarwal acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was purchased at an average cost of $10.10 per share, with a total value of $101,000.00. Following the completion of the acquisition, the director now directly owns 88,967 shares of the company’s stock, valued at approximately $898,566.70. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and raised their price objective for the company from $11.00 to $12.00 in a research report on Monday, January 6th. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and raised their target price for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Finally, Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $11.46.

About Amcor

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.