HighTower Advisors LLC Grows Stock Holdings in Amcor plc (NYSE:AMCR)

HighTower Advisors LLC grew its holdings in shares of Amcor plc (NYSE:AMCR) by 3.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 248,303 shares of the company’s stock after acquiring an additional 7,836 shares during the period. HighTower Advisors LLC’s holdings in Amcor were worth $2,337,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Larson Financial Group LLC raised its holdings in Amcor by 3,410.3% in the 3rd 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. 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 worth $38,000 after acquiring an additional 3,225 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Amcor by 247.4% in the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock worth $35,000 after acquiring an additional 2,660 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Amcor in the 4th quarter worth approximately $44,000. Finally, SBI Securities Co. Ltd. purchased a new position in Amcor in the 4th quarter worth approximately $60,000. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and boosted their target price for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. 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 research note on Wednesday, December 11th. Finally, Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.46.

Amcor Trading Down 2.9 %

Shares of AMCR stock opened at $9.44 on Friday. Amcor plc has a 1 year low of $8.80 and a 1 year high of $11.48. The firm has a fifty day moving average price of $9.93 and a 200-day moving average price of $10.29. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. The company has a market cap of $13.64 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) 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 firm had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the previous year, the firm posted $0.09 EPS. The company’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, equities analysts predict that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th were issued a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 5.41%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor’s dividend payout ratio is currently 92.73%.

Insider Buying and Selling

In other news, Director Achal Agarwal bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $10.10 per share, with a total value of $101,000.00. Following the acquisition, the director now owns 88,967 shares of the company’s stock, valued at approximately $898,566.70. This represents a 12.66 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is currently owned by insiders.

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.