Amcor plc (NYSE:AMCR) Shares Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC raised its holdings in shares of Amcor plc (NYSE:AMCR) by 13.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,571 shares of the company’s stock after acquiring an additional 2,348 shares during the quarter. Park Avenue Securities LLC’s holdings in Amcor were worth $184,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Larson Financial Group LLC boosted its stake in shares of Amcor by 3,410.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after purchasing an additional 2,319 shares during the last quarter. Rise Advisors LLC acquired a new stake in Amcor during the third quarter worth approximately $35,000. ORG Wealth Partners LLC purchased a new stake in Amcor in the 3rd quarter worth approximately $35,000. True Wealth Design LLC raised 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 valued at $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% during the 3rd quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock worth $49,000 after purchasing an additional 3,242 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on AMCR shares. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and lifted their price target for the company from $11.00 to $12.00 in a report on Monday, January 6th. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and increased their price objective for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a report on Wednesday, December 11th. Finally, UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amcor has an average rating of “Moderate Buy” and a consensus price target of $11.46.

Amcor Trading Down 0.2 %

Shares of AMCR stock opened at $9.75 on Monday. 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 firm’s 50 day moving average price is $9.84 and its two-hundred day moving average price is $10.45. The stock has a market cap of $14.09 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 1.86 and a beta of 0.84.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) 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 return on equity of 25.60% and a net margin of 5.68%. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.16 EPS. On average, analysts anticipate that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Thursday, November 21st were given a dividend of $0.1275 per share. The ex-dividend date of this dividend was Thursday, November 21st. This is a positive change from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 annualized dividend and a yield of 5.23%. Amcor’s payout ratio is 96.23%.

Amcor 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.