Sound Financial Strategies Group LLC Increases Stock Position in Amcor plc (NYSE:AMCR)

Sound Financial Strategies Group LLC boosted its stake in shares of Amcor plc (NYSE:AMCR) by 50.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,288 shares of the company’s stock after buying an additional 29,016 shares during the quarter. Sound Financial Strategies Group LLC’s holdings in Amcor were worth $812,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Proficio Capital Partners LLC purchased a new position in Amcor during the fourth quarter worth about $314,000. Assetmark Inc. boosted its stake in Amcor by 3.0% during the fourth quarter. Assetmark Inc. now owns 72,915 shares of the company’s stock worth $686,000 after buying an additional 2,119 shares during the period. Victory Capital Management Inc. boosted its stake in Amcor by 0.9% during the fourth quarter. Victory Capital Management Inc. now owns 439,324 shares of the company’s stock worth $4,134,000 after buying an additional 3,993 shares during the period. Charles Schwab Investment Management Inc. lifted its position 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 purchasing an additional 2,862,471 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of Amcor by 11,326.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company’s stock worth $69,000 after purchasing an additional 7,249 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Insider Activity at Amcor

In other news, Director Achal Agarwal acquired 10,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the transaction, the director now directly owns 88,967 shares in the company, valued at approximately $898,566.70. This represents a 12.66 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.60% of the stock is currently owned by insiders.

Amcor Stock Performance

Shares of AMCR opened at $9.95 on Wednesday. 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 $14.37 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80. The company’s 50 day simple moving average is $9.81 and its 200-day simple moving average is $10.40. Amcor plc has a 12-month low of $8.80 and a 12-month high of $11.48.

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

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be given a $0.1275 dividend. 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 5.13%. Amcor’s dividend payout ratio (DPR) is 92.73%.

Analyst Upgrades and Downgrades

AMCR has been the topic of several research reports. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock in a research report on Wednesday, December 11th. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and raised their target price for the company from $10.00 to $12.00 in a report on Monday, January 6th. Finally, Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $11.46.

Amcor Company 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.