Northeast Investment Management Lowers Stock Position in Amcor plc (NYSE:AMCR)

Northeast Investment Management decreased its position in shares of Amcor plc (NYSE:AMCR) by 7.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 264,850 shares of the company’s stock after selling 20,500 shares during the period. Northeast Investment Management’s holdings in Amcor were worth $2,492,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Larson Financial Group LLC boosted its position in shares of 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 acquiring an additional 2,319 shares during the last quarter. Rise Advisors LLC bought a new stake in Amcor in the third quarter worth $35,000. ORG Wealth Partners LLC purchased a new position in Amcor in the third quarter worth about $35,000. True Wealth Design LLC increased its stake in Amcor by 3,794.1% during the third 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 during the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Amcor by 296.3% in the 3rd quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock valued at $49,000 after purchasing an additional 3,242 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Analysts Set New Price Targets

AMCR has been the subject of several recent analyst reports. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Wells Fargo & Company lifted their target price on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock 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 report on Wednesday, November 27th. Three equities research 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $11.46.

Amcor Stock Performance

NYSE:AMCR opened at $10.03 on Friday. The firm has a 50 day moving average of $9.74 and a 200 day moving average of $10.44. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. Amcor plc has a 52 week low of $8.78 and a 52 week high of $11.48. The stock has a market capitalization of $14.50 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 1.92 and a beta of 0.84.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $3.24 billion during 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% on a year-over-year basis. During the same period last year, the firm posted $0.09 EPS. As a group, sell-side analysts anticipate that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be paid a dividend of $0.1275 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 annualized dividend and a dividend yield of 5.08%. Amcor’s payout ratio is currently 92.73%.

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.