Avaii Wealth Management LLC Has $205,000 Position in Amcor plc (NYSE:AMCR)

Avaii Wealth Management LLC cut its holdings in shares of Amcor plc (NYSE:AMCR) by 11.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,783 shares of the company’s stock after selling 2,911 shares during the quarter. Avaii Wealth Management LLC’s holdings in Amcor were worth $205,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AMCR. M&G PLC raised its holdings in Amcor by 5.9% during the third quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after acquiring an additional 2,775,794 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Amcor by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock worth $489,348,000 after purchasing an additional 1,960,308 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Amcor by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 36,317,037 shares of the company’s stock valued at $410,144,000 after buying an additional 697,320 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Amcor by 275.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock valued at $74,931,000 after buying an additional 4,851,222 shares in the last quarter. Finally, Barclays PLC increased its holdings in Amcor by 31.8% during the third quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock worth $51,484,000 after buying an additional 1,096,664 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AMCR shares. Wells Fargo & Company lifted their price objective on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and upped their price objective for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a research note on Wednesday, December 11th. Finally, Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.46.

Amcor Stock Performance

NYSE:AMCR opened at $9.75 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. The stock has a 50 day simple moving average of $9.84 and a 200 day simple moving average of $10.44. Amcor plc has a 1-year low of $8.78 and a 1-year high of $11.48. The stock has a market cap of $14.09 billion, a P/E ratio of 18.39, a PEG ratio of 1.86 and a beta of 0.84.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the company posted $0.16 earnings per share. Amcor’s revenue was down 2.6% compared to the same quarter last year. Research analysts anticipate that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st were issued a dividend of $0.1275 per share. The ex-dividend date of this dividend was Thursday, November 21st. This is a boost from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 annualized dividend and a dividend yield of 5.23%. Amcor’s dividend payout ratio (DPR) is currently 96.23%.

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.