Steward Partners Investment Advisory LLC Boosts Stock Position in Amcor plc (NYSE:AMCR)

Steward Partners Investment Advisory LLC grew its stake in Amcor plc (NYSE:AMCR) by 11,326.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,313 shares of the company’s stock after purchasing an additional 7,249 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Amcor were worth $69,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its position in shares of Amcor by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock valued at $489,348,000 after purchasing an additional 1,960,308 shares in the last quarter. Geode Capital Management LLC lifted its stake in Amcor by 2.0% during the third quarter. Geode Capital Management LLC now owns 36,317,037 shares of the company’s stock worth $410,144,000 after purchasing an additional 697,320 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Amcor by 275.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock worth $74,931,000 after purchasing an additional 4,851,222 shares in the last quarter. Vest Financial LLC lifted its stake in 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 purchasing an additional 348,026 shares in the last quarter. Finally, Barclays PLC lifted its stake in 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 in the last quarter. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Amcor

In related news, Director Achal Agarwal purchased 10,000 shares of Amcor stock in a transaction dated Thursday, February 27th. The stock was bought at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the transaction, the director now owns 88,967 shares in the company, valued at approximately $898,566.70. The trade was a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.60% of the stock is owned by insiders.

Amcor Stock Performance

Shares of AMCR stock opened at $9.85 on Tuesday. The stock’s 50-day moving average is $9.91 and its two-hundred day moving average is $10.33. The firm has a market cap of $14.23 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 1.96 and a beta of 0.80. Amcor plc has a 1 year low of $8.80 and a 1 year high of $11.48. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26.

Amcor (NYSE:AMCR) last announced its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the prior year, the firm earned $0.09 earnings per share. The business’s quarterly revenue was down .3% compared to the same quarter last year. Analysts predict that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The company 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. The ex-dividend date is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a yield of 5.18%. Amcor’s payout ratio is currently 92.73%.

Wall Street Analyst Weigh In

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

About Amcor

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.