Financial Advocates Investment Management Has $185,000 Stake in Amcor plc (NYSE:AMCR)

Financial Advocates Investment Management decreased its holdings in shares of Amcor plc (NYSE:AMCR) by 11.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,620 shares of the company’s stock after selling 2,446 shares during the quarter. Financial Advocates Investment Management’s holdings in Amcor were worth $185,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. M&G PLC grew its holdings in shares of Amcor by 5.9% during the third quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after purchasing an additional 2,775,794 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Amcor by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock worth $489,348,000 after purchasing an additional 1,960,308 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Amcor by 2.0% during the third quarter. Geode Capital Management LLC now owns 36,317,037 shares of the company’s stock worth $410,144,000 after purchasing an additional 697,320 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings 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 during the last quarter. Finally, Barclays PLC grew its holdings in shares of 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 last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Price Performance

Shares of AMCR opened at $10.04 on Tuesday. Amcor plc has a 52-week low of $8.78 and a 52-week high of $11.48. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.26. The business’s 50 day moving average price is $9.74 and its two-hundred day moving average price is $10.44. The firm has a market cap of $14.50 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 1.92 and a beta of 0.84.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the previous year, the firm earned $0.09 earnings per share. The company’s revenue was down .3% compared to the same quarter last year. On average, equities analysts anticipate that Amcor plc will post 0.74 EPS for the current year.

Amcor Dividend Announcement

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 dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date is Wednesday, February 26th. Amcor’s payout ratio is 92.73%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AMCR shares. 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 upgraded Amcor from a “hold” rating to a “buy” rating and upped their target price for the company from $10.00 to $12.00 in a report on Monday, January 6th. Wells Fargo & Company upped their target price on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Finally, Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price on the stock in a report on Wednesday, December 11th. Three 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.46.

About Amcor

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.