Concurrent Investment Advisors LLC Purchases 20,402 Shares of Amcor plc (NYSE:AMCR)

Concurrent Investment Advisors LLC boosted its position in Amcor plc (NYSE:AMCR) by 136.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 35,373 shares of the company’s stock after acquiring an additional 20,402 shares during the period. Concurrent Investment Advisors LLC’s holdings in Amcor were worth $333,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Private Advisor Group LLC boosted its position in shares of Amcor by 25.5% during the fourth quarter. Private Advisor Group LLC now owns 15,408 shares of the company’s stock valued at $145,000 after buying an additional 3,131 shares during the last quarter. Convergence Investment Partners LLC bought a new position in Amcor during the fourth quarter valued at $879,000. Cardinal Capital Management grew its stake in shares of Amcor by 1.9% during the 4th quarter. Cardinal Capital Management now owns 119,305 shares of the company’s stock worth $1,123,000 after acquiring an additional 2,211 shares during the period. Kestra Investment Management LLC raised its stake in Amcor by 23.5% in the 4th quarter. Kestra Investment Management LLC now owns 23,916 shares of the company’s stock valued at $225,000 after acquiring an additional 4,547 shares during the period. Finally, Asset Management One Co. Ltd. increased its stake in shares of Amcor by 9.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 567,573 shares of the company’s stock worth $5,358,000 after purchasing an additional 47,348 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Stock Performance

NYSE:AMCR opened at $10.33 on Wednesday. The stock has a 50-day simple moving average of $9.74 and a two-hundred day simple moving average of $10.42. The firm has a market capitalization of $14.92 billion, a PE ratio of 18.77, a P/E/G ratio of 1.96 and a beta of 0.84. 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 plc has a 52-week low of $8.80 and a 52-week high of $11.48.

Amcor (NYSE:AMCR) last issued 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 company 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 posted $0.09 EPS. Amcor’s quarterly revenue was down .3% compared to the same quarter last year. Analysts forecast that Amcor plc will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be paid a dividend of $0.1275 per share. The ex-dividend date is Wednesday, February 26th. This represents a $0.51 annualized dividend and a yield of 4.94%. Amcor’s payout ratio is 92.73%.

Analysts Set New Price Targets

AMCR has been the topic of a number of recent analyst reports. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a research note on Wednesday, December 11th. Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and increased their target price for the company from $10.00 to $12.00 in a report on Monday, January 6th. Finally, Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Three 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $11.46.

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.