Avantax Advisory Services Inc. Increases Stock Position in Amcor plc (NYSE:AMCR)

Avantax Advisory Services Inc. boosted its holdings in Amcor plc (NYSE:AMCR) by 14.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,174 shares of the company’s stock after purchasing an additional 2,440 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Amcor were worth $180,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Barclays PLC lifted 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 period. Franklin Resources Inc. increased its stake in Amcor by 39.3% in the 3rd quarter. Franklin Resources Inc. now owns 719,749 shares of the company’s stock valued at $8,162,000 after buying an additional 203,166 shares during the period. Cerity Partners LLC raised its position in Amcor by 78.7% during the 3rd quarter. Cerity Partners LLC now owns 217,498 shares of the company’s stock worth $2,464,000 after buying an additional 95,805 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Amcor in the 3rd quarter worth $5,919,000. Finally, Van ECK Associates Corp purchased a new stake in shares of Amcor in the fourth quarter valued at about $2,605,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMCR has been the subject of a number of recent analyst reports. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a research report on Wednesday, December 11th. Citigroup upgraded 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 note on Monday, January 6th. Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and increased their price objective for the stock from $10.00 to $12.00 in a research report on Monday, January 6th. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Finally, UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Three 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $11.46.

Insider Transactions at Amcor

In related news, Director Achal Agarwal bought 10,000 shares of the stock in a transaction dated 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 completion of the purchase, the director now owns 88,967 shares in the company, valued at $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 can be accessed through this hyperlink. Company insiders own 0.60% of the company’s stock.

Amcor Stock Up 1.2 %

AMCR stock opened at $9.72 on Friday. 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’s 50 day simple moving average is $9.93 and its 200-day simple moving average is $10.25. Amcor plc has a 12 month low of $8.80 and a 12 month high of $11.48. The firm has a market capitalization of $14.04 billion, a PE ratio of 17.66, a P/E/G ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR) last announced its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate 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 company posted $0.09 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. Equities analysts expect that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

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 dividend on an annualized basis and a yield of 5.25%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor’s 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.