Allspring Global Investments Holdings LLC Has $44.82 Million Stock Position in Amcor PLC $AMCR

Key Points

• Allspring Global Investments Holdings LLC significantly increased its stake in Amcor PLC by 4,928.6% during Q2, owning approximately 4.7 million shares worth $44.82 million.
• Amcor recently announced a quarterly dividend of $0.1275 per share, representing an annualized dividend of $0.51 with a yield of 6.3%.
• Wall Street analysts have generally rated Amcor's stock positively, with an average target price of $11.09 and ten analysts recommending a "Buy" rating.

Allspring Global Investments Holdings LLC grew its stake in shares of Amcor PLC (NYSE:AMCR - Free Report) by 4,928.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,732,524 shares of the company's stock after purchasing an additional 4,638,412 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.33% of Amcor worth $44,817,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Rakuten Securities Inc. raised its holdings in shares of Amcor by 18,725.0% during the first quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock valued at $29,000 after purchasing an additional 2,996 shares during the period. AdvisorNet Financial Inc increased its position in shares of Amcor by 839.8% during the second quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company's stock worth $28,000 after acquiring an additional 2,704 shares in the last quarter. HM Payson & Co. bought a new stake in shares of Amcor during the first quarter worth about $30,000. Brentview Investment Management LLC bought a new stake in shares of Amcor during the first quarter worth about $31,000. Finally, Adirondack Trust Co. bought a new stake in shares of Amcor during the second quarter worth about $29,000. Institutional investors and hedge funds own 45.14% of the company's stock.

Insider Buying and Selling at Amcor

In related news, Director Stephen E. Sterrett bought 10,000 shares of Amcor stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average cost of $8.55 per share, with a total value of $85,500.00. Following the transaction, the director directly owned 10,000 shares of the company's stock, valued at approximately $85,500. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AMCR shares. UBS Group raised shares of Amcor from a "neutral" rating to a "buy" rating in a research report on Thursday, June 26th. Weiss Ratings reissued a "hold (c-)" rating on shares of Amcor in a research report on Wednesday, October 8th. JPMorgan Chase & Co. started coverage on shares of Amcor in a research report on Friday, September 19th. They set an "overweight" rating and a $10.00 target price for the company. Stifel Nicolaus raised shares of Amcor from a "hold" rating to a "buy" rating and set a $10.20 target price for the company in a research report on Friday, October 10th. Finally, Truist Financial set a $11.00 price objective on shares of Amcor and gave the stock a "buy" rating in a research report on Friday, July 11th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $11.09.

Amcor Trading Up 1.6%

Shares of AMCR stock opened at $8.11 on Wednesday. Amcor PLC has a 52-week low of $7.81 and a 52-week high of $11.46. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.71 and a current ratio of 1.21. The company has a 50-day simple moving average of $8.46 and a two-hundred day simple moving average of $9.02. The company has a market capitalization of $18.68 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 1.14 and a beta of 0.73.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.20 earnings per share (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 firm had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.18 billion. During the same period in the previous year, the company posted $0.21 earnings per share. The company's revenue for the quarter was up 43.8% on a year-over-year basis. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. Research analysts anticipate that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently announced 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. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend was Friday, September 5th. Amcor's dividend payout ratio is currently 141.67%.

Amcor Company 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.

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