Nan Fung Trinity HK Ltd. Increases Stock Position in Amcor plc (NYSE:AMCR)

Nan Fung Trinity HK Ltd. lifted its stake in Amcor plc (NYSE:AMCR) by 61.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,719,680 shares of the company’s stock after purchasing an additional 1,032,400 shares during the quarter. Amcor accounts for approximately 5.2% of Nan Fung Trinity HK Ltd.’s investment portfolio, making the stock its 4th largest holding. Nan Fung Trinity HK Ltd.’s holdings in Amcor were worth $25,592,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Larson Financial Group LLC grew its stake in Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after buying an additional 2,319 shares in the last quarter. True Wealth Design LLC boosted its position 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 worth $38,000 after acquiring an additional 3,225 shares in the last quarter. Signaturefd LLC boosted its position in shares of 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. Covestor Ltd increased its stake in Amcor by 441.0% in the third quarter. Covestor Ltd now owns 7,963 shares of the company’s stock valued at $90,000 after acquiring an additional 6,491 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in Amcor during the third quarter valued at approximately $97,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Stock Down 1.5 %

Shares of NYSE AMCR opened at $10.24 on Friday. The company has a 50 day simple moving average of $9.72 and a 200 day simple moving average of $10.42. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. Amcor plc has a 1 year low of $8.80 and a 1 year high of $11.48. The firm has a market cap of $14.79 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 1.99 and a beta of 0.84.

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

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be given a $0.1275 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.98%. Amcor’s dividend payout ratio (DPR) is presently 92.73%.

Analysts Set New Price Targets

AMCR has been the topic of a number of research analyst reports. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and raised their target price for the company from $11.00 to $12.00 in a report on Monday, January 6th. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Truist Financial raised Amcor from a “hold” rating to a “buy” rating and boosted their target price for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Finally, Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.46.

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.