Aberdeen Group plc Raises Stock Holdings in Amcor PLC $AMCR

Key Points

• Aberdeen Group plc significantly increased its stake in Amcor PLC by 59.5% in the second quarter, now owning 329,689 shares valued at approximately $3.04 million.
• Multiple institutional investors also adjusted their holdings, with the State of Alaska Department of Revenue raising its investment by 51.6% and Mirae Asset Global Investments boosting its stake by 71.4%.
• Amcor's quarterly earnings revealed an EPS of $0.20, falling short of expectations, alongside a dividend yield of 6.3% based on a recent payment of $0.1275 per share.

Aberdeen Group plc boosted its stake in shares of Amcor PLC (NYSE:AMCR - Free Report) by 59.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 329,689 shares of the company's stock after buying an additional 123,007 shares during the quarter. Aberdeen Group plc's holdings in Amcor were worth $3,041,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. State of Alaska Department of Revenue increased its position in shares of Amcor by 51.6% during the second quarter. State of Alaska Department of Revenue now owns 464,293 shares of the company's stock valued at $4,266,000 after acquiring an additional 158,082 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Amcor by 71.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,446,429 shares of the company's stock valued at $22,483,000 after acquiring an additional 1,019,306 shares during the last quarter. Sound Income Strategies LLC increased its position in shares of Amcor by 54,855.7% during the second quarter. Sound Income Strategies LLC now owns 605,062 shares of the company's stock valued at $5,561,000 after acquiring an additional 603,961 shares during the last quarter. OneDigital Investment Advisors LLC acquired a new stake in shares of Amcor during the first quarter valued at about $121,000. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Amcor by 16.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,256,497 shares of the company's stock valued at $12,188,000 after acquiring an additional 175,731 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Amcor

In related news, Director Stephen E. Sterrett acquired 10,000 shares of the stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average cost of $8.55 per share, with a total value of $85,500.00. Following the completion of the transaction, the director owned 10,000 shares in the company, valued at $85,500. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.32% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. UBS Group upgraded shares of Amcor from a "neutral" rating to a "buy" rating in a research report on Thursday, June 26th. JPMorgan Chase & Co. initiated coverage on Amcor in a research report on Friday, September 19th. They issued an "overweight" rating and a $10.00 target price for the company. Jefferies Financial Group initiated coverage on Amcor in a research report on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 target price for the company. Royal Bank Of Canada initiated coverage on Amcor in a research report on Monday, September 22nd. They issued a "sector perform" rating for the company. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Amcor in a research report on Wednesday, October 8th. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $10.84.

Amcor Stock Performance

NYSE AMCR opened at $8.15 on Friday. The company has a market cap of $18.79 billion, a P/E ratio of 22.64, a P/E/G ratio of 1.15 and a beta of 0.73. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.21 and a quick ratio of 0.71. The stock has a 50-day moving average of $8.41 and a two-hundred day moving average of $9.01. Amcor PLC has a 1-year low of $7.81 and a 1-year high of $11.34.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.21 by ($0.01). Amcor had a return on equity of 19.43% and a net margin of 3.40%.The company had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.18 billion. During the same period in the prior year, the firm posted $0.21 earnings per share. The business'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. As a group, analysts anticipate that Amcor PLC will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Friday, September 5th were given a dividend of $0.1275 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.3%. Amcor's payout ratio is currently 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.

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