Hudson Edge Investment Partners Inc. Takes $4.71 Million Position in Amcor PLC $AMCR

Hudson Edge Investment Partners Inc. acquired a new position in shares of Amcor PLC (NYSE:AMCR) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 118,545 shares of the company’s stock, valued at approximately $4,712,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC raised its position in Amcor by 10.1% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after purchasing an additional 373 shares in the last quarter. CYBER HORNET ETFs LLC boosted its holdings in shares of Amcor by 11.1% in the 4th quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company’s stock worth $37,000 after purchasing an additional 447 shares in the last quarter. FineMark National Bank & Trust increased its position in shares of Amcor by 0.6% during the 4th quarter. FineMark National Bank & Trust now owns 80,503 shares of the company’s stock valued at $671,000 after purchasing an additional 503 shares during the last quarter. United Asset Strategies Inc. increased its position in shares of Amcor by 1.6% during the 4th quarter. United Asset Strategies Inc. now owns 38,453 shares of the company’s stock valued at $321,000 after purchasing an additional 597 shares during the last quarter. Finally, AdvisorNet Financial Inc purchased a new position in shares of Amcor during the 1st quarter valued at about $25,000. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMCR has been the subject of several research reports. Wells Fargo & Company set a $41.00 target price on Amcor and gave the stock an “equal weight” rating in a research note on Wednesday, May 20th. Truist Financial reissued a “buy” rating and set a $51.00 price target (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Citigroup lowered their price objective on shares of Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a report on Friday, May 8th. JPMorgan Chase & Co. cut their price objective on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Finally, Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Amcor currently has an average rating of “Moderate Buy” and an average target price of $48.00.

Amcor Price Performance

AMCR opened at $44.98 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. The stock’s 50 day simple moving average is $39.75 and its 200 day simple moving average is $42.04. The firm has a market cap of $20.80 billion, a price-to-earnings ratio of 31.46, a PEG ratio of 1.27 and a beta of 0.62. Amcor PLC has a 1 year low of $36.25 and a 1 year high of $50.94.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, meeting the consensus estimate of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the previous year, the company posted $0.90 earnings per share. The business’s revenue was up 77.4% on a year-over-year basis. As a group, analysts predict that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Thursday, May 28th. Amcor’s dividend payout ratio 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.