Kingsview Wealth Management LLC Invests $7.79 Million in Amcor plc (NYSE:AMCR)

Kingsview Wealth Management LLC purchased a new position in Amcor plc (NYSE:AMCR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 827,744 shares of the company's stock, valued at approximately $7,789,000. Kingsview Wealth Management LLC owned 0.06% of Amcor at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of AMCR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Amcor by 275.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company's stock valued at $74,931,000 after purchasing an additional 4,851,222 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Amcor by 39,411.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,811,600 shares of the company's stock worth $31,855,000 after buying an additional 2,804,484 shares during the last quarter. M&G PLC boosted its stake in Amcor by 5.9% during the third quarter. M&G PLC now owns 49,940,152 shares of the company's stock worth $549,342,000 after buying an additional 2,775,794 shares during the period. Charles Schwab Investment Management Inc. increased its position in Amcor by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company's stock valued at $489,348,000 after acquiring an additional 1,960,308 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of Amcor by 94.8% in the third quarter. KBC Group NV now owns 2,940,184 shares of the company's stock valued at $33,312,000 after acquiring an additional 1,430,545 shares during the period. Hedge funds and other institutional investors own 45.14% of the company's stock.

Amcor Stock Down 0.5 %

AMCR stock traded down $0.05 on Wednesday, hitting $9.98. 11,839,677 shares of the company's stock were exchanged, compared to its average volume of 18,966,260. The firm has a 50 day moving average price of $9.72 and a two-hundred day moving average price of $10.44. Amcor plc has a 12-month low of $8.78 and a 12-month high of $11.48. The stock has a market cap of $14.42 billion, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 1.92 and a beta of 0.84. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.26.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting analysts' consensus estimates of $0.16. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company's revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 earnings per share. As a group, equities research analysts expect that Amcor plc will post 0.74 EPS for the current fiscal 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 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 5.11%. Amcor's dividend payout ratio is presently 92.73%.

Analysts Set New Price Targets

A number of equities analysts recently commented on AMCR shares. Citigroup raised shares of Amcor from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. UBS Group upgraded Amcor from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, December 11th. Bank of America upgraded Amcor from an "underperform" rating to a "buy" rating and set a $12.50 price target on the stock in a report on Wednesday, December 11th. Wells Fargo & Company raised their price target on Amcor from $10.50 to $10.80 and gave the stock an "equal weight" rating in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group raised Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. Three 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 company. Based on data from MarketBeat, the stock has an average 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.