Sequoia Financial Advisors LLC Purchases New Holdings in Amcor plc (NYSE:AMCR)

Sequoia Financial Advisors LLC acquired a new position in shares of Amcor plc (NYSE:AMCR) in the 4th quarter, HoldingsChannel reports. The firm acquired 13,315 shares of the company’s stock, valued at approximately $125,000.

Other hedge funds have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Amcor by 275.3% during 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 worth $74,931,000 after purchasing an additional 4,851,222 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Amcor by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company’s stock worth $433,358,000 after buying an additional 2,862,471 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Amcor by 39,411.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,811,600 shares of the company’s stock valued at $31,855,000 after buying an additional 2,804,484 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Amcor in the fourth quarter worth about $23,810,000. Finally, Barclays PLC boosted its position 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 acquiring an additional 1,096,664 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AMCR shares. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and raised their target price for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock in a report on Wednesday, December 11th. Finally, Macquarie raised 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 assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Amcor currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.46.

Amcor Stock Down 1.2 %

Shares of AMCR opened at $9.73 on Friday. The company’s 50-day moving average price is $9.93 and its 200 day moving average price is $10.31. Amcor plc has a 12-month low of $8.80 and a 12-month high of $11.48. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. The firm has a market cap of $14.06 billion, a P/E ratio of 17.68, 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 earnings per share (EPS) for the quarter, meeting 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 business’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.09 EPS. On average, sell-side analysts forecast that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were paid a $0.1275 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.24%. Amcor’s payout ratio is presently 92.73%.

Insider Activity at Amcor

In other Amcor news, Director Achal Agarwal acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the acquisition, the director now owns 88,967 shares of the company’s stock, valued at approximately $898,566.70. This trade represents a 12.66 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company 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.