Analysts Set Amcor PLC (NYSE:AMCR) Target Price at $11.42

Key Points

• Amcor PLC has a consensus rating of “Moderate Buy” from nine research firms, with two hold ratings and seven buy ratings, and an average 1-year price target of $11.42.
• In a recent insider transaction, Director Stephen E. Sterrett purchased 10,000 shares at an average price of $8.55, indicating strong confidence in the company's prospects.
• Amcor plans to pay a quarterly dividend of $0.1275 per share, representing a dividend yield of six percent, which is noteworthy given its current payout ratio of 141.67%.

Amcor PLC (NYSE:AMCR - Get Free Report) has been assigned an average rating of "Moderate Buy" from the nine brokerages that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $11.4167.

Several analysts have issued reports on AMCR shares. Truist Financial set a $11.00 price objective on Amcor and gave the company a "buy" rating in a research note on Friday, July 11th. Robert W. Baird cut their price objective on Amcor from $11.00 to $10.00 and set a "neutral" rating on the stock in a research note on Friday, August 15th. Jefferies Financial Group started coverage on Amcor in a research note on Wednesday, July 2nd. They set a "buy" rating and a $12.00 price objective on the stock. UBS Group upgraded Amcor from a "neutral" rating to a "buy" rating in a research note on Thursday, June 26th. Finally, Wells Fargo & Company upped their target price on Amcor from $10.00 to $11.00 and gave the company an "overweight" rating in a report on Friday, July 18th.

Insider Activity at Amcor

In related news, Director Stephen E. Sterrett bought 10,000 shares of the stock in a transaction dated Tuesday, August 19th. The stock was bought at an average cost of $8.55 per share, with a total value of $85,500.00. Following the completion of the acquisition, the director owned 10,000 shares of the company's stock, valued at $85,500. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.60% of the company's stock.

Hedge Funds Weigh In On Amcor

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Amcor by 61.8% during the second quarter. Vanguard Group Inc. now owns 110,228,036 shares of the company's stock worth $1,012,996,000 after buying an additional 42,122,135 shares during the period. State Street Corp boosted its position in Amcor by 41.4% during the 2nd quarter. State Street Corp now owns 129,701,986 shares of the company's stock worth $1,191,961,000 after acquiring an additional 37,982,310 shares during the period. Norges Bank bought a new position in shares of Amcor in the second quarter worth $328,839,000. Charles Schwab Investment Management Inc. grew its stake in shares of Amcor by 62.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 80,770,303 shares of the company's stock worth $742,279,000 after purchasing an additional 30,938,660 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Amcor by 55.3% during the second quarter. Geode Capital Management LLC now owns 58,845,923 shares of the company's stock valued at $538,551,000 after purchasing an additional 20,946,520 shares during the period. 45.14% of the stock is owned by institutional investors.

Amcor Stock Up 1.2%

AMCR stock traded up $0.10 during mid-day trading on Friday, hitting $8.65. 15,932,277 shares of the company were exchanged, compared to its average volume of 27,843,796. The company has a market capitalization of $12.50 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.13 and a beta of 0.72. The company has a current ratio of 1.21, a quick ratio of 0.71 and a debt-to-equity ratio of 1.18. Amcor has a twelve month low of $8.37 and a twelve month high of $11.48. The firm has a fifty day simple moving average of $9.31 and a 200 day simple moving average of $9.42.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). Amcor had a net margin of 3.40% and a return on equity of 19.43%. The firm had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.18 billion. During the same quarter in the previous year, the company earned $0.21 EPS. The company's quarterly revenue was up 43.8% compared to the same quarter last year. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. On average, research analysts forecast that Amcor will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.1275 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.51 annualized dividend and a dividend yield of 5.9%. Amcor's dividend payout ratio is 141.67%.

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.