Wealth Alliance Lowers Position in Amcor plc (NYSE:AMCR)

Wealth Alliance decreased its stake in Amcor plc (NYSE:AMCR) by 7.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,159 shares of the company’s stock after selling 3,634 shares during the period. Wealth Alliance’s holdings in Amcor were worth $406,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AMCR. Larson Financial Group LLC lifted its stake in shares of Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after purchasing an additional 2,319 shares during the period. True Wealth Design LLC raised its position in Amcor by 3,794.1% during the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after acquiring an additional 3,225 shares during the last quarter. Signaturefd LLC raised its position in Amcor by 296.3% during the third quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock worth $49,000 after acquiring an additional 3,242 shares during the last quarter. Covestor Ltd raised its position in Amcor by 441.0% during the third quarter. Covestor Ltd now owns 7,963 shares of the company’s stock worth $90,000 after acquiring an additional 6,491 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in Amcor during the third quarter worth about $97,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Price Performance

AMCR opened at $10.24 on Friday. 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 plc has a 52-week low of $8.80 and a 52-week high of $11.48. The company has a 50 day moving average of $9.72 and a two-hundred day moving average of $10.42. The company has a market cap of $14.79 billion, a P/E ratio of 18.61, a P/E/G ratio of 1.95 and a beta of 0.84.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share (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 company had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the previous year, the firm earned $0.09 earnings per share. Amcor’s revenue for the quarter was down .3% on a year-over-year basis. On average, analysts expect that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be given a dividend of $0.1275 per share. The ex-dividend date is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.98%. Amcor’s payout ratio is currently 92.73%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AMCR shares. Citigroup upgraded shares of 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. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a report on Wednesday, December 11th. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and boosted their target price for the company from $10.00 to $12.00 in a report on Monday, January 6th. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Finally, Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Amcor presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.46.

Amcor Company 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.