Koshinski Asset Management Inc. Has $132,000 Stock Position in Amcor PLC (NYSE:AMCR)

Koshinski Asset Management Inc. lifted its stake in Amcor PLC (NYSE:AMCR) by 10.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 13,659 shares of the company’s stock after buying an additional 1,252 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Amcor were worth $132,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Private Advisor Group LLC raised its stake in Amcor by 25.5% during the fourth quarter. Private Advisor Group LLC now owns 15,408 shares of the company’s stock worth $145,000 after acquiring an additional 3,131 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Amcor in the 4th quarter worth about $314,000. Jones Financial Companies Lllp grew its holdings in shares of Amcor by 247.4% in the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock worth $35,000 after purchasing an additional 2,660 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Amcor during the 4th quarter worth about $60,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in Amcor by 11,326.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company’s stock valued at $69,000 after purchasing an additional 7,249 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Raymond James Financial started coverage on shares of Amcor in a research note on Tuesday, April 22nd. They set a “market perform” rating on the stock. Wells Fargo & Company initiated coverage on Amcor in a report on Thursday, June 26th. They issued an “overweight” rating and a $10.00 target price on the stock. Truist Financial dropped their price target on Amcor from $12.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. UBS Group upgraded Amcor from a “neutral” rating to a “buy” rating in a research report on Thursday, June 26th. Finally, Jefferies Financial Group began coverage on Amcor in a report on Wednesday. They set a “buy” rating and a $12.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.30.

Amcor Stock Performance

AMCR stock opened at $9.57 on Friday. The company has a 50 day moving average price of $9.20 and a 200 day moving average price of $9.51. 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 stock has a market capitalization of $13.82 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 2.34 and a beta of 0.73.

Amcor (NYSE:AMCR) last released its earnings results on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.51 billion. Amcor had a return on equity of 26.49% and a net margin of 5.99%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the firm earned $0.13 EPS. Analysts forecast that Amcor PLC will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd were issued a dividend of $0.1275 per share. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $0.51 annualized dividend and a yield of 5.33%. Amcor’s dividend payout ratio is currently 91.07%.

Amcor 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.