Independent Advisor Alliance Purchases 6,848 Shares of Amcor plc (NYSE:AMCR)

Independent Advisor Alliance increased its position in Amcor plc (NYSE:AMCR) by 11.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 67,290 shares of the company’s stock after purchasing an additional 6,848 shares during the quarter. Independent Advisor Alliance’s holdings in Amcor were worth $633,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Barclays PLC grew 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 purchasing an additional 1,096,664 shares during the period. Franklin Resources Inc. grew its holdings in Amcor by 39.3% during the third quarter. Franklin Resources Inc. now owns 719,749 shares of the company’s stock worth $8,162,000 after purchasing an additional 203,166 shares during the period. Natixis Advisors LLC grew its holdings in Amcor by 24.5% during the third quarter. Natixis Advisors LLC now owns 634,631 shares of the company’s stock worth $7,190,000 after purchasing an additional 124,945 shares during the period. Cerity Partners LLC boosted its holdings in shares of Amcor by 78.7% during the 3rd quarter. Cerity Partners LLC now owns 217,498 shares of the company’s stock worth $2,464,000 after buying an additional 95,805 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Amcor during the 3rd quarter worth about $5,919,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMCR has been the subject of several research analyst reports. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a research report on Wednesday, December 11th. Finally, Truist Financial raised 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 research report on Monday, January 6th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Amcor currently has an average rating of “Moderate Buy” and a consensus price target of $11.46.

Amcor Stock Performance

NYSE:AMCR opened at $9.79 on Monday. The stock has a fifty day moving average price of $9.90 and a 200-day moving average price of $10.34. 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. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. Amcor plc has a fifty-two week low of $8.80 and a fifty-two week high of $11.48.

Amcor (NYSE:AMCR) last released its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the prior year, the company posted $0.09 EPS. The company’s revenue was down .3% compared to the same quarter last year. As a group, equities analysts anticipate that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be paid a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.21%. The ex-dividend date is Wednesday, February 26th. Amcor’s payout ratio is presently 92.73%.

Insiders Place Their Bets

In other Amcor news, Director Achal Agarwal bought 10,000 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was purchased at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the purchase, the director now directly owns 88,967 shares of the company’s stock, valued at approximately $898,566.70. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.60% of the company’s stock.

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.