Bank Julius Baer & Co. Ltd Zurich Takes $44,000 Position in Amcor plc (NYSE:AMCR)

Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Amcor plc (NYSE:AMCR) during the fourth quarter, HoldingsChannel reports. The fund acquired 4,209 shares of the company’s stock, valued at approximately $44,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC grew its position in Amcor by 3,410.3% in the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after buying an additional 2,319 shares during the last quarter. True Wealth Design LLC grew its position in 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 during the last quarter. Jones Financial Companies Lllp grew its position in Amcor by 247.4% in 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. SBI Securities Co. Ltd. purchased a new position in Amcor in the 4th quarter valued at $60,000. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of Amcor by 11,326.6% during the 4th 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 hedge funds and other institutional investors.

Insider Activity at Amcor

In other 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 purchased at an average price of $10.10 per share, with a total value of $101,000.00. Following the purchase, the director now owns 88,967 shares of the company’s stock, valued at $898,566.70. This trade represents a 12.66 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 0.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AMCR has been the topic of several research analyst reports. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and boosted their target price for the stock from $10.00 to $12.00 in a research report on Monday, January 6th. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price on the stock in a research report on Wednesday, December 11th. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Finally, Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a research report 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.46.

Amcor Price Performance

Amcor stock opened at $10.00 on Wednesday. Amcor plc has a 52 week low of $8.80 and a 52 week high of $11.48. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The firm’s 50-day simple moving average is $9.88 and its 200 day simple moving average is $10.37. The firm has a market capitalization of $14.45 billion, a PE ratio of 18.17, a P/E/G ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. 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 firm earned $0.09 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities research analysts predict that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The company also recently announced 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 yield of 5.10%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor’s payout ratio 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.