Northeast Investment Management Has $2.08 Million Stock Position in Amcor PLC $AMCR

Northeast Investment Management lessened its holdings in shares of Amcor PLC (NYSE:AMCR) by 5.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 249,000 shares of the company’s stock after selling 13,850 shares during the period. Northeast Investment Management’s holdings in Amcor were worth $2,077,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Dakota Wealth Management lifted its holdings in shares of Amcor by 74.6% during the fourth quarter. Dakota Wealth Management now owns 345,449 shares of the company’s stock worth $2,881,000 after purchasing an additional 147,639 shares during the period. PFG Investments LLC acquired a new position in shares of Amcor during the fourth quarter worth $262,000. Vanguard Group Inc. lifted its holdings in shares of Amcor by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock worth $945,222,000 after purchasing an additional 1,845,627 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Amcor by 64.0% during the fourth quarter. Nordea Investment Management AB now owns 242,866 shares of the company’s stock worth $2,034,000 after purchasing an additional 94,753 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Amcor by 213.1% during the fourth quarter. GAMMA Investing LLC now owns 126,702 shares of the company’s stock worth $1,057,000 after purchasing an additional 86,231 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

AMCR has been the topic of a number of recent research reports. Morgan Stanley lowered shares of Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price target on the stock. in a report on Wednesday, January 28th. Citigroup cut their price target on shares of Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, May 8th. JPMorgan Chase & Co. cut their price target on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Robert W. Baird set a $54.00 price target on shares of Amcor in a report on Wednesday, February 4th. Finally, Truist Financial reissued a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.56.

Amcor Price Performance

Shares of NYSE AMCR opened at $39.22 on Wednesday. Amcor PLC has a twelve month low of $36.67 and a twelve month high of $50.94. The firm has a fifty day simple moving average of $40.62 and a 200 day simple moving average of $42.48. The company has a market capitalization of $18.13 billion, a PE ratio of 27.43, a P/E/G ratio of 1.21 and a beta of 0.63. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30.

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

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Thursday, May 28th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date of this dividend is Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is currently 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.