SVB Wealth LLC Purchases New Shares in Amcor plc (NYSE:AMCR)

SVB Wealth LLC bought a new position in shares of Amcor plc (NYSE:AMCR) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 48,904 shares of the company’s stock, valued at approximately $460,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Private Advisor Group LLC bought a new stake in Amcor during the 3rd quarter worth approximately $139,000. Robeco Institutional Asset Management B.V. increased its position in Amcor by 28.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 490,628 shares of the company’s stock valued at $5,559,000 after buying an additional 108,851 shares in the last quarter. Forum Financial Management LP increased its stake in Amcor by 7.7% during the 3rd quarter. Forum Financial Management LP now owns 14,761 shares of the company’s stock valued at $167,000 after purchasing an additional 1,058 shares in the last quarter. National Pension Service boosted its stake in Amcor by 18.5% during the 3rd quarter. National Pension Service now owns 2,834,506 shares of the company’s stock valued at $32,115,000 after purchasing an additional 442,129 shares during the last quarter. Finally, M&G PLC boosted its holdings in Amcor by 5.9% during the 3rd quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after acquiring an additional 2,775,794 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on AMCR. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and boosted their price objective for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Finally, Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock in a research report on Wednesday, December 11th. 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 MarketBeat.com, Amcor presently has an average rating of “Moderate Buy” and an average price target of $11.46.

Insider Transactions at Amcor

In related news, Director Achal Agarwal acquired 10,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was acquired at an average cost of $10.10 per share, with a total value of $101,000.00. Following the completion of the transaction, the director now owns 88,967 shares in the company, valued at $898,566.70. This represents a 12.66 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.60% of the company’s stock.

Amcor Trading Down 1.8 %

NYSE AMCR opened at $9.95 on Wednesday. The company has a 50 day moving average price of $9.81 and a 200 day moving average price of $10.40. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. Amcor plc has a 52 week low of $8.80 and a 52 week high of $11.48. The firm has a market cap of $14.37 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. Amcor’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the business earned $0.09 earnings per share. As a group, sell-side analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $0.1275 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.13%. Amcor’s dividend payout ratio is currently 92.73%.

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.