Moran Wealth Management LLC Invests $10.06 Million in Amcor plc (NYSE:AMCR)

Moran Wealth Management LLC bought a new stake in Amcor plc (NYSE:AMCR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,068,698 shares of the company’s stock, valued at approximately $10,056,000. Moran Wealth Management LLC owned 0.07% of Amcor as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Larson Financial Group LLC increased its holdings in shares of Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after buying an additional 2,319 shares in the last quarter. Jones Financial Companies Lllp grew its position in Amcor by 247.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock worth $35,000 after acquiring an additional 2,660 shares during the last quarter. True Wealth Design LLC increased its holdings in Amcor by 3,794.1% during the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after purchasing an additional 3,225 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in Amcor in the 4th quarter valued at $44,000. Finally, SBI Securities Co. Ltd. acquired a new position in Amcor in the fourth quarter worth $60,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Insider Activity

In related news, Director Achal Agarwal purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average cost of $10.10 per share, with a total value of $101,000.00. Following the acquisition, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Amcor Trading Up 1.7 %

Shares of AMCR stock opened at $10.29 on Monday. Amcor plc has a 12-month low of $8.80 and a 12-month high of $11.48. The firm has a 50 day moving average price of $9.85 and a two-hundred day moving average price of $10.38. 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 company has a market capitalization of $14.87 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting 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 the consensus estimate of $3.33 billion. During the same period in the prior year, the company posted $0.09 earnings per share. Amcor’s revenue was down .3% compared to the same quarter last year. As a group, analysts predict that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

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 $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 payout ratio is presently 92.73%.

Analyst Ratings Changes

AMCR has been the topic of a number of research analyst reports. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a 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. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and raised their price target for the company from $10.00 to $12.00 in a report on Monday, January 6th. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Finally, Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.46.

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.