Proficio Capital Partners LLC Makes New $314,000 Investment in Amcor plc (NYSE:AMCR)

Proficio Capital Partners LLC bought a new stake in Amcor plc (NYSE:AMCR) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 33,330 shares of the company’s stock, valued at approximately $314,000.

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Amcor by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock worth $489,348,000 after acquiring an additional 1,960,308 shares during the period. Geode Capital Management LLC raised its holdings in shares of Amcor by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 36,317,037 shares of the company’s stock worth $410,144,000 after buying an additional 697,320 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Amcor by 275.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock valued at $74,931,000 after purchasing an additional 4,851,222 shares during the last quarter. Vest Financial LLC increased its holdings in shares of Amcor by 7.3% during the fourth quarter. Vest Financial LLC now owns 5,127,348 shares of the company’s stock worth $48,248,000 after buying an additional 348,026 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Amcor by 31.8% during the third quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock worth $51,484,000 after purchasing an additional 1,096,664 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Insider Transactions at Amcor

In other Amcor news, Director Achal Agarwal acquired 10,000 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the acquisition, the director now owns 88,967 shares in the company, valued at $898,566.70. This represents a 12.66 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AMCR shares. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Citigroup raised shares of 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 research report on Monday, January 6th. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price on the stock in a research note on Wednesday, December 11th. Finally, Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and increased their target price for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Amcor currently has a consensus rating of “Moderate Buy” and an average target price of $11.46.

Amcor Price Performance

AMCR stock opened at $10.00 on Wednesday. Amcor plc has a 12 month low of $8.80 and a 12 month high of $11.48. 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 firm has a market capitalization of $14.45 billion, a P/E ratio of 18.17, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80. The firm has a 50 day moving average of $9.88 and a 200-day moving average of $10.37.

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

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be issued a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 5.10%. The ex-dividend date is Wednesday, February 26th. Amcor’s dividend payout ratio is currently 92.73%.

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.