Moran Wealth Management LLC Takes Position in Amcor plc (NYSE:AMCR)

Moran Wealth Management LLC purchased a new position in shares of Amcor plc (NYSE:AMCR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,068,698 shares of the company's stock, valued at approximately $10,056,000. Moran Wealth Management LLC owned 0.07% of Amcor as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its stake in 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. Jones Financial Companies Lllp lifted its holdings in shares of Amcor by 247.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock valued at $35,000 after buying an additional 2,660 shares during the last quarter. True Wealth Design LLC grew its stake in shares of Amcor by 3,794.1% in the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company's stock valued at $38,000 after buying an additional 3,225 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Amcor in the fourth quarter worth approximately $44,000. Finally, SBI Securities Co. Ltd. acquired a new position in Amcor in the fourth quarter worth approximately $60,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Achal Agarwal acquired 10,000 shares of the company's stock in a transaction dated 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 owns 88,967 shares in the company, valued at $898,566.70. This trade represents a 12.66 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is owned by company insiders.

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Analyst Upgrades and Downgrades

A number of analysts have issued reports on AMCR shares. UBS Group upgraded shares of Amcor from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, December 11th. Citigroup raised shares of Amcor from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Truist Financial upgraded shares of Amcor from a "hold" rating to a "buy" rating and upped their price objective for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Bank of America upgraded Amcor from an "underperform" rating to a "buy" rating and set a $12.50 target price on the stock in a report on Wednesday, December 11th. Finally, Jefferies Financial Group upgraded Amcor from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Amcor presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.46.

Amcor Stock Performance

AMCR traded down $0.33 during trading on Thursday, hitting $9.61. The stock had a trading volume of 22,734,178 shares, compared to its average volume of 21,495,270. The firm has a market cap of $13.88 billion, a PE ratio of 17.46, a P/E/G ratio of 1.96 and a beta of 0.80. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. Amcor plc has a 12 month low of $8.80 and a 12 month high of $11.48. The company has a 50 day simple moving average of $9.89 and a 200-day simple moving average of $10.37.

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

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $0.1275 per share. The ex-dividend date is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.31%. Amcor's dividend payout ratio (DPR) is presently 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.