SVB Wealth LLC Buys Shares of 48,904 Amcor plc (NYSE:AMCR)

SVB Wealth LLC purchased a new position in Amcor plc (NYSE:AMCR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 48,904 shares of the company's stock, valued at approximately $460,000.

A number of other institutional investors also recently made changes to their positions in the stock. Forum Financial Management LP grew its position in shares of Amcor by 7.7% in the third quarter. Forum Financial Management LP now owns 14,761 shares of the company's stock valued at $167,000 after purchasing an additional 1,058 shares during the period. Prime Capital Investment Advisors LLC grew its position in shares of Amcor by 6.1% in the third quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company's stock valued at $215,000 after purchasing an additional 1,085 shares during the period. CWA Asset Management Group LLC grew its position in shares of Amcor by 3.9% in the fourth quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company's stock valued at $304,000 after purchasing an additional 1,213 shares during the period. Fifth Third Wealth Advisors LLC grew its position in shares of Amcor by 11.3% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 13,892 shares of the company's stock valued at $131,000 after purchasing an additional 1,409 shares during the period. Finally, New York Life Investment Management LLC grew its position in shares of Amcor by 0.8% in the fourth quarter. New York Life Investment Management LLC now owns 195,714 shares of the company's stock valued at $1,842,000 after purchasing an additional 1,507 shares during the period. 45.14% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other news, Director Achal Agarwal acquired 10,000 shares of the business's stock in a transaction on Thursday, February 27th. The shares were purchased at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the purchase, the director now directly owns 88,967 shares of the company's stock, valued at $898,566.70. This represents a 12.66 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AMCR shares. Truist Financial raised Amcor from a "hold" rating to a "buy" rating and boosted their price target for the company from $10.00 to $12.00 in a research report on Monday, January 6th. UBS Group raised Amcor from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, December 11th. Macquarie raised Amcor from a "neutral" rating to an "outperform" rating in a research report on Wednesday, November 27th. Jefferies Financial Group raised Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. Finally, Bank of America raised Amcor from an "underperform" rating to a "buy" rating and set a $12.50 target price for the company in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Amcor presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.46.

Amcor Stock Up 1.7 %

Shares of NYSE:AMCR traded up $0.18 during trading 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 company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. Amcor plc has a fifty-two week low of $8.80 and a fifty-two week high of $11.48. The stock's 50-day moving average price is $9.85 and its two-hundred day moving average price is $10.39. The company has a market capitalization of $14.87 billion, a PE ratio of 18.70, a PEG ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate 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 analysts' expectations of $3.33 billion. During the same quarter in the previous year, the firm posted $0.09 earnings per share. The company's revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts expect that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be paid a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 4.96%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor's dividend payout ratio (DPR) is 92.73%.

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.