Proficio Capital Partners LLC Invests $314,000 in Amcor plc (NYSE:AMCR)

Proficio Capital Partners LLC acquired a new stake in shares of Amcor plc (NYSE:AMCR) in the fourth quarter, Holdings Channel reports. The fund acquired 33,330 shares of the company’s stock, valued at approximately $314,000.

A number of other large investors have also modified their holdings of the company. Larson Financial Group LLC increased its stake in Amcor by 3,410.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after buying an additional 2,319 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. 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. SBI Securities Co. Ltd. purchased a new stake in Amcor during the fourth quarter valued at about $60,000. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of Amcor by 11,326.6% in the fourth 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 and hedge funds own 45.14% of the company’s stock.

Amcor Trading Down 1.3 %

Amcor stock opened at $9.43 on Wednesday. The company’s fifty day moving average price is $9.93 and its two-hundred day moving average price is $10.26. Amcor plc has a one year low of $8.80 and a one year high of $11.48. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. The company has a market capitalization of $13.63 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the previous year, the company posted $0.09 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. On average, analysts forecast that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were given a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date was Wednesday, February 26th. Amcor’s dividend payout ratio is currently 92.73%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AMCR shares. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and lifted their target price for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Finally, Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and boosted their target price for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Three equities research 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.46.

Insider Transactions at Amcor

In other Amcor news, Director Achal Agarwal bought 10,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average price of $10.10 per share, with a total value of $101,000.00. Following the completion of the purchase, the director now directly owns 88,967 shares in the company, valued at $898,566.70. The trade was a 12.66 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.60% of the stock is owned by insiders.

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.