10,483 Shares in Amcor plc (NYSE:AMCR) Purchased by Savvy Advisors Inc.

Savvy Advisors Inc. acquired a new stake in shares of Amcor plc (NYSE:AMCR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,483 shares of the company’s stock, valued at approximately $99,000.

Several other large investors have also bought and sold shares of the company. Barclays PLC increased its position in shares of Amcor by 31.8% during the third quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock valued at $51,484,000 after acquiring an additional 1,096,664 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Amcor in the 3rd quarter worth $372,000. Sanctuary Advisors LLC raised its stake in shares of Amcor by 7.2% in the third quarter. Sanctuary Advisors LLC now owns 53,132 shares of the company’s stock worth $557,000 after purchasing an additional 3,559 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of Amcor by 292.5% during the third quarter. Tidal Investments LLC now owns 81,439 shares of the company’s stock valued at $923,000 after purchasing an additional 60,691 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Amcor by 39.3% during the third quarter. Franklin Resources Inc. now owns 719,749 shares of the company’s stock valued at $8,162,000 after buying an additional 203,166 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and upped their target price for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and increased their price objective for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Finally, Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. 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. Based on data from MarketBeat.com, Amcor presently has an average rating of “Moderate Buy” and an average price target of $11.46.

Insiders Place Their Bets

In other Amcor news, Director Achal Agarwal purchased 10,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were acquired at an average cost of $10.10 per share, with a total value of $101,000.00. Following the completion of the acquisition, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.60% of the company’s stock.

Amcor Trading Down 1.8 %

Shares of AMCR stock opened at $9.37 on Wednesday. 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 cap of $13.54 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 1.96 and a beta of 0.78. Amcor plc has a 1 year low of $8.37 and a 1 year high of $11.48. The firm has a fifty day moving average price of $9.76 and a 200-day moving average price of $10.06.

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 the consensus estimate 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 during the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the previous year, the company posted $0.09 earnings per share. Amcor’s revenue for the quarter was down .3% on a year-over-year basis. As a group, equities analysts predict that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were issued a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.45%. The ex-dividend date was Wednesday, February 26th. Amcor’s dividend payout ratio is currently 92.73%.

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.