Kingsview Wealth Management LLC Buys 90,429 Shares of Amcor PLC (NYSE:AMCR)

Kingsview Wealth Management LLC increased its holdings in shares of Amcor PLC (NYSE:AMCR - Free Report) by 10.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 918,173 shares of the company's stock after purchasing an additional 90,429 shares during the period. Kingsview Wealth Management LLC owned 0.06% of Amcor worth $8,906,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of AMCR. Vanguard Group Inc. grew its holdings in Amcor by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company's stock worth $555,064,000 after acquiring an additional 1,249,868 shares during the period. Geode Capital Management LLC boosted its stake in Amcor by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 36,856,793 shares of the company's stock valued at $345,952,000 after purchasing an additional 539,756 shares during the last quarter. Invesco Ltd. lifted its position in shares of Amcor by 16.0% during the 4th quarter. Invesco Ltd. now owns 30,425,121 shares of the company's stock worth $286,300,000 after buying an additional 4,199,209 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Amcor by 25.1% during the 4th quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company's stock worth $263,215,000 after purchasing an additional 5,614,233 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Amcor by 11.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 18,700,717 shares of the company's stock valued at $175,967,000 after purchasing an additional 1,886,794 shares during the last quarter. 45.14% of the stock is owned by institutional investors.

Amcor Price Performance

Shares of NYSE:AMCR traded down $0.06 during midday trading on Monday, reaching $9.48. The company's stock had a trading volume of 1,142,981 shares, compared to its average volume of 29,480,215. The company has a market capitalization of $13.70 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.22 and a beta of 0.73. Amcor PLC has a fifty-two week low of $8.37 and a fifty-two week high of $11.48. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.70 and a quick ratio of 1.16. The business's fifty day simple moving average is $9.28 and its 200-day simple moving average is $9.53.

Amcor (NYSE:AMCR - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. Amcor had a return on equity of 26.49% and a net margin of 5.99%. The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same period in the previous year, the company earned $0.13 EPS. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, equities research analysts expect that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd were given a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date was Thursday, May 22nd. Amcor's dividend payout ratio (DPR) is currently 91.07%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AMCR shares. Raymond James Financial started coverage on shares of Amcor in a research note on Tuesday, April 22nd. They issued a "market perform" rating for the company. Jefferies Financial Group began coverage on shares of Amcor in a research note on Wednesday, July 2nd. They set a "buy" rating and a $12.00 target price on the stock. UBS Group upgraded shares of Amcor from a "neutral" rating to a "buy" rating in a report on Thursday, June 26th. Truist Financial set a $11.00 price objective on shares of Amcor and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, Wells Fargo & Company increased their target price on shares of Amcor from $10.00 to $11.00 and gave the company an "overweight" rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Amcor presently has an average rating of "Moderate Buy" and a consensus price target of $11.51.

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.