Proficio Capital Partners LLC Acquires New Stake in Amcor plc (NYSE:AMCR)

Proficio Capital Partners LLC bought a new position in shares of Amcor plc (NYSE:AMCR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 33,330 shares of the company’s stock, valued at approximately $314,000.

Other large investors also recently bought and sold shares of the company. Prime Capital Investment Advisors LLC raised its holdings in shares of Amcor by 6.1% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company’s stock valued at $215,000 after buying an additional 1,085 shares during the period. CWA Asset Management Group LLC raised its holdings in shares of Amcor by 3.9% during the fourth quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company’s stock worth $304,000 after purchasing an additional 1,213 shares during the period. Fifth Third Wealth Advisors LLC grew its holdings in shares of Amcor by 11.3% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 13,892 shares of the company’s stock valued at $131,000 after purchasing an additional 1,409 shares during the last quarter. New York Life Investment Management LLC lifted its stake in Amcor by 0.8% in the fourth quarter. New York Life Investment Management LLC now owns 195,714 shares of the company’s stock valued at $1,842,000 after buying an additional 1,507 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Amcor by 0.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 442,152 shares of the company’s stock worth $4,161,000 after purchasing an additional 1,761 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Insider Activity at Amcor

In related news, Director Achal Agarwal bought 10,000 shares of Amcor stock in a transaction on Thursday, February 27th. The shares were purchased at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the acquisition, the director now owns 88,967 shares in the company, valued at approximately $898,566.70. This represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AMCR. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a research note on Wednesday, December 11th. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and increased their price objective for the company from $11.00 to $12.00 in a report on Monday, January 6th. Finally, Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Amcor currently has an average rating of “Moderate Buy” and an average target price of $11.46.

Amcor Stock Performance

NYSE AMCR opened at $10.00 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The company’s 50-day simple moving average is $9.88 and its 200 day simple moving average is $10.37. The stock has a market cap of $14.45 billion, a P/E ratio of 18.17, a PEG ratio of 1.96 and a beta of 0.80. Amcor plc has a twelve month low of $8.80 and a twelve month high of $11.48.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 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 for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the previous year, the business earned $0.09 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, research analysts forecast that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be given a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 5.10%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor’s dividend payout ratio (DPR) is presently 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.