AlphaStar Capital Management LLC Has $464,000 Holdings in Amcor plc (NYSE:AMCR)

AlphaStar Capital Management LLC lifted its position in shares of Amcor plc (NYSE:AMCR) by 16.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,287 shares of the company’s stock after purchasing an additional 7,009 shares during the quarter. AlphaStar Capital Management LLC’s holdings in Amcor were worth $464,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Larson Financial Group LLC lifted its holdings in shares of Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after purchasing an additional 2,319 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in Amcor in the 3rd quarter valued at $35,000. Rise Advisors LLC bought a new position in Amcor during the 3rd quarter valued at $35,000. True Wealth Design LLC boosted its holdings in Amcor by 3,794.1% during the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after acquiring an additional 3,225 shares during the last quarter. Finally, Signaturefd LLC grew its stake in shares of Amcor by 296.3% in the 3rd quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock worth $49,000 after acquiring an additional 3,242 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Stock Performance

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

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. The business had revenue of $3.24 billion for 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%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.09 EPS. On average, equities research analysts forecast that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

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 $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 5.08%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor’s dividend payout ratio (DPR) is presently 92.73%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AMCR shares. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and raised their price target for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Wells Fargo & Company boosted their target price on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a research report on Wednesday, December 11th. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Finally, Citigroup raised Amcor from a “neutral” rating to a “buy” rating and raised their target price for the company from $11.00 to $12.00 in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amcor currently has a consensus rating of “Moderate Buy” and an average price target of $11.46.

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.