Kingsview Wealth Management LLC Buys Shares of 827,744 Amcor plc (NYSE:AMCR)

Kingsview Wealth Management LLC purchased a new position in shares of Amcor plc (NYSE:AMCR) during the fourth quarter, Holdings Channel reports. The fund purchased 827,744 shares of the company’s stock, valued at approximately $7,789,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Lake Street Advisors Group LLC boosted its position in Amcor by 8.4% in the 3rd quarter. Lake Street Advisors Group LLC now owns 12,210 shares of the company’s stock valued at $138,000 after buying an additional 946 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in Amcor by 9.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 11,646 shares of the company’s stock valued at $132,000 after purchasing an additional 1,023 shares during the period. Forum Financial Management LP grew 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 worth $167,000 after purchasing an additional 1,058 shares in the last quarter. Prime Capital Investment Advisors LLC increased its holdings in Amcor by 6.1% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company’s stock worth $215,000 after purchasing an additional 1,085 shares during the period. Finally, CWA Asset Management Group LLC raised its position in Amcor by 3.9% in the 4th quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company’s stock valued at $304,000 after purchasing an additional 1,213 shares in the last quarter. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AMCR. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Wells Fargo & Company raised their price objective on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and boosted their target price for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Finally, UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Amcor currently has an average rating of “Moderate Buy” and a consensus price target of $11.46.

Amcor Price Performance

Shares of AMCR opened at $10.03 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.74. Amcor plc has a 1-year low of $8.78 and a 1-year high of $11.48. The stock has a market cap of $14.50 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 1.92 and a beta of 0.84. The firm has a fifty day moving average price of $9.74 and a 200 day moving average price of $10.44.

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

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be issued a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor’s dividend payout ratio is presently 92.73%.

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.