Amcor plc (NYSE:AMCR) Shares Acquired by Sound Financial Strategies Group LLC

Sound Financial Strategies Group LLC boosted its holdings in Amcor plc (NYSE:AMCR - Free Report) by 50.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 86,288 shares of the company's stock after acquiring an additional 29,016 shares during the period. Sound Financial Strategies Group LLC's holdings in Amcor were worth $812,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new position in Amcor during the fourth quarter worth $314,000. Assetmark Inc. lifted its stake in Amcor by 3.0% during the fourth quarter. Assetmark Inc. now owns 72,915 shares of the company's stock worth $686,000 after purchasing an additional 2,119 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Amcor by 0.9% during the fourth quarter. Victory Capital Management Inc. now owns 439,324 shares of the company's stock worth $4,134,000 after purchasing an additional 3,993 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Amcor by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company's stock worth $433,358,000 after purchasing an additional 2,862,471 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in Amcor by 11,326.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company's stock worth $69,000 after purchasing an additional 7,249 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AMCR. Truist Financial raised 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 research report on Monday, January 6th. Citigroup raised Amcor from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Bank of America raised Amcor from an "underperform" rating to a "buy" rating and set a $12.50 price objective on the stock in a research report on Wednesday, December 11th. UBS Group raised Amcor from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, December 11th. Finally, Macquarie raised Amcor from a "neutral" rating to an "outperform" rating in a research report on Wednesday, November 27th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $11.46.

Insiders Place Their Bets

In other news, Director Achal Agarwal acquired 10,000 shares of the company's stock in a transaction on Thursday, February 27th. The shares were bought at an average price of $10.10 per share, with a total value of $101,000.00. Following the completion of 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 this link. Corporate insiders own 0.60% of the company's stock.

Amcor Stock Up 1.7 %

NYSE:AMCR traded up $0.18 during trading hours on Friday, hitting $10.29. The company's stock had a trading volume of 26,289,221 shares, compared to its average volume of 21,028,664. The stock has a market capitalization of $14.87 billion, a P/E ratio of 18.70, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80. The stock has a fifty day moving average of $9.85 and a 200-day moving average of $10.39. 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 52-week low of $8.80 and a 52-week high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The firm 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%. Amcor's revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.09 earnings per share. On average, equities analysts forecast that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The firm also recently announced 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 4.96%. The ex-dividend date of this dividend is Wednesday, February 26th. 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.