Kingsview Wealth Management LLC Reduces Holdings in Amcor PLC $AMCR

Kingsview Wealth Management LLC reduced its holdings in Amcor PLC (NYSE:AMCR) by 96.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,471 shares of the company’s stock after selling 924,201 shares during the period. Kingsview Wealth Management LLC’s holdings in Amcor were worth $257,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Quent Capital LLC purchased a new stake in Amcor during the 3rd quarter worth approximately $27,000. DecisionPoint Financial LLC acquired a new stake in shares of Amcor in the 2nd quarter valued at approximately $34,000. CYBER HORNET ETFs LLC purchased a new position in Amcor in the 2nd quarter valued at approximately $36,000. LSV Asset Management acquired a new position in shares of Amcor in the second quarter worth $37,000. Finally, Huntington National Bank boosted its holdings in shares of Amcor by 81.8% during the third quarter. Huntington National Bank now owns 4,490 shares of the company’s stock worth $37,000 after purchasing an additional 2,020 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Trading Up 1.0%

AMCR stock opened at $42.53 on Thursday. The business has a fifty day moving average price of $45.54 and a 200 day moving average price of $42.82. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.30 and a quick ratio of 0.77. Amcor PLC has a fifty-two week low of $38.33 and a fifty-two week high of $50.94. The stock has a market capitalization of $19.65 billion, a price-to-earnings ratio of 27.80, a P/E/G ratio of 0.98 and a beta of 0.65.

Amcor (NYSE:AMCR) last announced its earnings results on Tuesday, February 3rd. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. Amcor had a return on equity of 15.57% and a net margin of 3.04%.The company had revenue of $3.24 billion during the quarter, compared to analyst estimates of $5.53 billion. During the same period last year, the company posted $0.80 earnings per share. The firm’s quarterly revenue was up 68.1% compared to the same quarter last year. Amcor has set its FY 2026 guidance at 4.000-4.150 EPS. Analysts expect that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 17th. Shareholders of record on Wednesday, February 25th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.1%. Amcor’s payout ratio is currently 169.93%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AMCR shares. Wells Fargo & Company upped their target price on Amcor from $9.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Truist Financial lifted their price objective on shares of Amcor from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Amcor in a research report on Wednesday, January 21st. Robert W. Baird set a $54.00 price objective on Amcor in a research note on Wednesday, February 4th. Finally, Citigroup reaffirmed a “buy” rating on shares of Amcor in a report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Amcor currently has an average rating of “Moderate Buy” and an average price target of $52.88.

Amcor Company Profile

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.