Raymond James Financial Inc. Makes New Investment in Amcor plc (NYSE:AMCR)

Raymond James Financial Inc. acquired a new position in Amcor plc (NYSE:AMCR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,530,334 shares of the company's stock, valued at approximately $23,810,000. Raymond James Financial Inc. owned 0.18% of Amcor as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMCR. Entropy Technologies LP purchased a new position in shares of Amcor in the third quarter valued at $345,000. GSA Capital Partners LLP boosted its stake in Amcor by 51.9% in the 3rd quarter. GSA Capital Partners LLP now owns 34,190 shares of the company's stock worth $387,000 after purchasing an additional 11,685 shares during the period. Prime Capital Investment Advisors LLC grew 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 valued at $215,000 after buying an additional 1,085 shares in the last quarter. Metis Global Partners LLC increased its position in shares of Amcor by 21.9% during the third quarter. Metis Global Partners LLC now owns 131,308 shares of the company's stock valued at $1,488,000 after buying an additional 23,620 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Amcor by 30.3% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 34,759 shares of the company's stock valued at $394,000 after acquiring an additional 8,078 shares during the period. 45.14% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. 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. Macquarie upgraded shares of 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 upped their target price for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Jefferies Financial Group upgraded Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. Finally, UBS Group upgraded 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 given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.46.

Insider Activity

In other Amcor news, Director Achal Agarwal purchased 10,000 shares of Amcor stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the acquisition, the director now directly owns 88,967 shares in the company, valued at approximately $898,566.70. This trade represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.60% of the company's stock.

Amcor Trading Down 0.8 %

Shares of NYSE AMCR traded down $0.08 during midday trading on Wednesday, reaching $9.85. The company had a trading volume of 18,377,556 shares, compared to its average volume of 21,325,225. The firm's fifty day moving average price is $9.92 and its 200-day moving average price is $10.32. 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 one year low of $8.80 and a one year high of $11.48. The stock has a market cap of $14.23 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR - Get Free Report) last released 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 firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the prior year, the firm posted $0.09 earnings per share. The business's quarterly revenue was down .3% compared to the same quarter last year. On average, equities research analysts anticipate that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were given a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date was Wednesday, February 26th. Amcor's payout ratio is 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.