2,530,334 Shares in Amcor plc (NYSE:AMCR) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in shares of Amcor plc (NYSE:AMCR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,530,334 shares of the company’s stock, valued at approximately $23,810,000. Raymond James Financial Inc. owned about 0.18% of Amcor at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of AMCR. Larson Financial Group LLC raised its holdings in Amcor by 3,410.3% during the 3rd 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 during the period. Jones Financial Companies Lllp raised its holdings 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 buying an additional 2,660 shares during the period. True Wealth Design LLC raised 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 worth $38,000 after buying an additional 3,225 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Amcor during the 4th quarter worth approximately $60,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in 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 buying an additional 7,249 shares during the period. Institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

Shares of AMCR opened at $9.79 on Friday. The company has a market cap of $14.14 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.96 and a beta of 0.80. Amcor plc has a 1-year low of $8.80 and a 1-year high of $11.48. The company’s fifty day simple moving average is $9.90 and its 200 day simple moving average is $10.35. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR) last issued its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the company earned $0.09 earnings per share. On average, research analysts forecast that Amcor plc will post 0.74 earnings per share 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 issued a dividend of $0.1275 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a yield of 5.21%. Amcor’s payout ratio is 92.73%.

Insiders Place Their Bets

In related news, Director Achal Agarwal acquired 10,000 shares of Amcor stock in a transaction on Thursday, February 27th. The stock was purchased at an average cost of $10.10 per share, with a total value of $101,000.00. Following the completion of the transaction, the director now directly owns 88,967 shares in the company, valued at $898,566.70. This trade represents a 12.66 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on AMCR. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and raised their target price for the stock from $11.00 to $12.00 in a report on Monday, January 6th. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and lifted their price objective 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 investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Amcor presently 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.