Kingsview Wealth Management LLC Has $257,000 Stock Position in Amcor PLC $AMCR

Kingsview Wealth Management LLC lowered its position in shares of Amcor PLC (NYSE:AMCR) by 96.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,471 shares of the company’s stock after selling 924,201 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Amcor were worth $257,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Quent Capital LLC acquired a new stake in Amcor in the third quarter valued at $27,000. DecisionPoint Financial LLC bought a new stake in shares of Amcor during the 2nd quarter worth about $34,000. CYBER HORNET ETFs LLC acquired a new position in Amcor in the 2nd quarter valued at about $36,000. LSV Asset Management bought a new position in Amcor in the 2nd quarter valued at about $37,000. Finally, Huntington National Bank lifted its holdings in Amcor by 81.8% during the 3rd 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 own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AMCR. Wells Fargo & Company boosted their price objective on shares of Amcor from $9.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Citigroup restated a “buy” rating on shares of Amcor in a research note on Thursday, February 12th. Morgan Stanley lowered Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price objective on the stock. in a research note on Wednesday, January 28th. Robert W. Baird set a $54.00 price target on shares of Amcor in a report on Wednesday, February 4th. Finally, Truist Financial upped their price target on shares of Amcor from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.88.

Amcor Price Performance

AMCR stock opened at $42.53 on Thursday. 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 1 year low of $38.33 and a 1 year high of $50.94. The company’s 50-day moving average is $45.54 and its 200-day moving average is $42.82. The stock has a market capitalization of $19.65 billion, a PE ratio of 27.80, a price-to-earnings-growth ratio of 0.98 and a beta of 0.65.

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

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 17th. Investors of record on Wednesday, February 25th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend is Wednesday, February 25th. Amcor’s dividend payout ratio (DPR) is presently 169.93%.

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.