Isthmus Partners LLC Boosts Position in Amcor plc (NYSE:AMCR)

Isthmus Partners LLC lifted its stake in shares of Amcor plc (NYSE:AMCR) by 38.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,003,404 shares of the company’s stock after acquiring an additional 558,870 shares during the quarter. Amcor makes up approximately 2.3% of Isthmus Partners LLC’s holdings, making the stock its 3rd biggest position. Isthmus Partners LLC’s holdings in Amcor were worth $18,852,000 at the end of the most recent reporting period.

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

Amcor Stock Performance

Shares of NYSE:AMCR opened at $10.29 on Monday. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $14.87 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 1.96 and a beta of 0.80. Amcor plc has a 12 month low of $8.80 and a 12 month high of $11.48. The firm’s 50-day moving average is $9.85 and its 200 day moving average is $10.38.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 earnings per share. Research analysts predict that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 4.96%. Amcor’s dividend payout ratio (DPR) is 92.73%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Citigroup raised shares of 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 research note on Monday, January 6th. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a research report on Wednesday, December 11th. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Finally, Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and increased their price target for the company from $10.00 to $12.00 in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $11.46.

Insiders Place Their Bets

In other news, Director Achal Agarwal purchased 10,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the acquisition, the director now 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.60% of the company’s stock.

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.