Proficio Capital Partners LLC Invests $314,000 in Amcor plc (NYSE:AMCR)

Proficio Capital Partners LLC bought a new position in shares of Amcor plc (NYSE:AMCR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 33,330 shares of the company's stock, valued at approximately $314,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMCR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake 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 worth $74,931,000 after purchasing an additional 4,851,222 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Amcor by 6.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company's stock worth $433,358,000 after buying an additional 2,862,471 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of 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 valued at $31,855,000 after buying an additional 2,804,484 shares during the period. Barclays PLC lifted its position in shares of Amcor by 31.8% during the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company's stock valued at $51,484,000 after buying an additional 1,096,664 shares during the last quarter. Finally, Nan Fung Trinity HK Ltd. grew its stake in shares of Amcor by 61.2% during the 4th quarter. Nan Fung Trinity HK Ltd. now owns 2,719,680 shares of the company's stock worth $25,592,000 after acquiring an additional 1,032,400 shares during the period. Hedge funds and other institutional investors own 45.14% of the company's stock.

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Amcor Price Performance

Shares of AMCR stock traded down $0.08 on Friday, reaching $9.64. The company's stock had a trading volume of 21,951,054 shares, compared to its average volume of 13,050,138. The company has a market capitalization of $13.93 billion, a P/E ratio of 17.52, a PEG ratio of 1.96 and a beta of 0.80. Amcor plc has a 12-month low of $8.80 and a 12-month high of $11.48. The stock's 50 day simple moving average is $9.93 and its 200-day simple moving average is $10.24. 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 (NYSE:AMCR - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate 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 for the quarter, compared to analysts' expectations of $3.33 billion. During the same quarter last year, the firm posted $0.09 EPS. The company's revenue was down .3% compared to the same quarter last year. As a group, equities analysts predict that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were paid a $0.1275 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a yield of 5.29%. Amcor's dividend payout ratio is presently 92.73%.

Insiders Place Their Bets

In related news, Director Achal Agarwal bought 10,000 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the transaction, the director now owns 88,967 shares of the company's stock, valued at approximately $898,566.70. The trade was 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 through this hyperlink. Corporate insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on AMCR. Bank of America raised shares of Amcor from an "underperform" rating to a "buy" rating and set a $12.50 price objective on the stock in a report on Wednesday, December 11th. UBS Group raised shares of Amcor from a "hold" rating to a "strong-buy" rating in a report on Wednesday, December 11th. Citigroup upgraded 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 Amcor from a "hold" rating to a "buy" rating and increased their target price for the stock from $10.00 to $12.00 in a research report on Monday, January 6th. Finally, Jefferies Financial Group upgraded Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price 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.