Kingswood Wealth Advisors LLC Purchases 4,438 Shares of Amcor plc (NYSE:AMCR)

Kingswood Wealth Advisors LLC grew its position in Amcor plc (NYSE:AMCR) by 12.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,068 shares of the company’s stock after purchasing an additional 4,438 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Amcor were worth $381,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Amcor by 12.3% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 246,555 shares of the company’s stock worth $2,377,000 after purchasing an additional 27,077 shares during the last quarter. Teacher Retirement System of Texas grew its position in Amcor by 173.4% during the fourth quarter. Teacher Retirement System of Texas now owns 311,839 shares of the company’s stock valued at $3,006,000 after buying an additional 197,760 shares during the period. Vanguard Group Inc. increased its holdings in Amcor by 0.6% during the third quarter. Vanguard Group Inc. now owns 56,479,105 shares of the company’s stock worth $517,349,000 after buying an additional 325,747 shares during the last quarter. CHURCHILL MANAGEMENT Corp raised its position in Amcor by 60.0% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 601,225 shares of the company’s stock worth $5,718,000 after acquiring an additional 225,441 shares during the period. Finally, Handelsbanken Fonder AB boosted its stake in Amcor by 20.3% in the fourth quarter. Handelsbanken Fonder AB now owns 1,345,800 shares of the company’s stock valued at $12,974,000 after acquiring an additional 227,145 shares during the last quarter. 45.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lifted their target price on shares of Amcor from $9.90 to $10.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st.

Amcor Trading Down 0.3 %

Shares of AMCR opened at $9.81 on Friday. The firm has a 50 day moving average price of $9.86 and a 200-day moving average price of $9.55. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.75 and a current ratio of 1.29. Amcor plc has a fifty-two week low of $8.45 and a fifty-two week high of $10.51. The firm has a market cap of $14.18 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 5.38 and a beta of 0.85.

Amcor (NYSE:AMCR) last issued its earnings results on Tuesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. Amcor had a net margin of 4.75% and a return on equity of 24.66%. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.49 billion. During the same quarter last year, the business earned $0.18 earnings per share. The business’s revenue was down 7.0% on a year-over-year basis. As a group, equities research analysts forecast that Amcor plc will post 0.7 earnings per share for the current year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 22nd were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date was Tuesday, May 21st. Amcor’s payout ratio is 111.11%.

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.