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

Qsemble Capital Management LP grew its stake in Amcor plc (NYSE:AMCR) by 677.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 122,320 shares of the company’s stock after purchasing an additional 106,595 shares during the period. Qsemble Capital Management LP’s holdings in Amcor were worth $1,386,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Amcor in the 3rd quarter valued at about $1,215,000. Daiwa Securities Group Inc. lifted its stake in Amcor by 11.6% in the third quarter. Daiwa Securities Group Inc. now owns 176,613 shares of the company’s stock valued at $2,001,000 after buying an additional 18,352 shares during the last quarter. Larson Financial Group LLC boosted its holdings 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 during the period. Sompo Asset Management Co. Ltd. grew its position in shares of Amcor by 30.1% during the third quarter. Sompo Asset Management Co. Ltd. now owns 609,250 shares of the company’s stock worth $6,903,000 after acquiring an additional 140,850 shares during the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of Amcor by 78.7% in the 3rd quarter. Cerity Partners LLC now owns 217,498 shares of the company’s stock valued at $2,464,000 after acquiring an additional 95,805 shares during the period. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on AMCR. Citigroup raised their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Robert W. Baird upped their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Wells Fargo & Company lifted their price objective on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Amcor currently has an average rating of “Hold” and a consensus target price of $10.94.

Amcor Trading Down 0.1 %

Shares of AMCR stock opened at $10.48 on Tuesday. The stock has a market cap of $15.15 billion, a P/E ratio of 19.77, a P/E/G ratio of 1.89 and a beta of 0.85. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. Amcor plc has a fifty-two week low of $8.78 and a fifty-two week high of $11.48. The business has a fifty day simple moving average of $10.84 and a 200-day simple moving average of $10.51.

Amcor (NYSE:AMCR) last posted its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period last year, the firm posted $0.16 EPS. On average, analysts forecast that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be given a $0.1275 dividend. This is an increase from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 annualized dividend and a dividend yield of 4.87%. The ex-dividend date is Thursday, November 21st. Amcor’s dividend payout ratio is currently 96.23%.

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.