Bank Julius Baer & Co. Ltd Zurich Takes $44,000 Position in Amcor plc (NYSE:AMCR)

Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Amcor plc (NYSE:AMCR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,209 shares of the company’s stock, valued at approximately $44,000.

Several other hedge funds and other institutional investors have also made changes to their positions in AMCR. Principal Financial Group Inc. boosted its stake in shares of Amcor by 5.7% in the third quarter. Principal Financial Group Inc. now owns 1,969,613 shares of the company’s stock valued at $22,316,000 after purchasing an additional 105,457 shares during the period. CWA Asset Management Group LLC purchased a new position in shares of Amcor in the third quarter valued at approximately $353,000. Covestor Ltd raised its holdings in Amcor by 441.0% in the third quarter. Covestor Ltd now owns 7,963 shares of the company’s stock valued at $90,000 after acquiring an additional 6,491 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in Amcor by 77.8% in the third quarter. Crossmark Global Holdings Inc. now owns 208,758 shares of the company’s stock valued at $2,365,000 after acquiring an additional 91,321 shares in the last quarter. Finally, Entropy Technologies LP acquired a new stake in Amcor in the third quarter valued at approximately $345,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AMCR. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a 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 target price on the stock in a report on Wednesday, December 11th. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and raised their target price for the company from $11.00 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 equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $11.46.

Insider Activity

In other Amcor news, Director Achal Agarwal bought 10,000 shares of the business’s stock in a transaction dated 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 acquisition, the director now directly owns 88,967 shares of the company’s stock, valued at $898,566.70. The trade was a 12.66 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.60% of the company’s stock.

Amcor Stock Down 2.6 %

AMCR stock opened at $10.00 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. Amcor plc has a twelve month low of $8.80 and a twelve month high of $11.48. The company’s 50 day moving average is $9.88 and its two-hundred day moving average is $10.37. The stock has a market cap of $14.45 billion, a P/E ratio of 18.17, a PEG ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share 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 company had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter last year, the company earned $0.09 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. Research analysts expect that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be issued a $0.1275 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.10%. Amcor’s payout ratio is 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.