Allstate Corp Increases Stock Position in Amcor PLC $AMCR

Key Points

• Allstate Corp increased its holdings in Amcor PLC by 73.4% during the first quarter, owning a total of 76,115 shares valued at $738,000 as per a recent SEC filing.
• The company's stock saw a slight increase, opening at $8.7150, with a market cap of $12.60 billion and a twelve-month range between $8.37 and $11.48.
• Amcor recently declared a quarterly dividend of $0.1275 per share, which represents an annualized dividend yield of 5.9% and a payout ratio of 141.67%.

Allstate Corp boosted its stake in Amcor PLC (NYSE:AMCR - Free Report) by 73.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,115 shares of the company's stock after acquiring an additional 32,220 shares during the period. Allstate Corp's holdings in Amcor were worth $738,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norinchukin Bank The lifted its position in Amcor by 18.2% in the first quarter. Norinchukin Bank The now owns 91,566 shares of the company's stock valued at $888,000 after acquiring an additional 14,111 shares during the last quarter. Alaska Permanent Fund Corp purchased a new stake in Amcor in the first quarter valued at $2,992,000. United Asset Strategies Inc. acquired a new position in Amcor in the first quarter valued at $396,000. Price T Rowe Associates Inc. MD increased its stake in Amcor by 1.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,643,651 shares of the company's stock valued at $122,644,000 after purchasing an additional 151,026 shares during the period. Finally, Capital Fund Management S.A. increased its stake in Amcor by 5,564.6% in the first quarter. Capital Fund Management S.A. now owns 1,492,180 shares of the company's stock valued at $14,474,000 after purchasing an additional 1,465,838 shares during the period. 45.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Amcor

In other news, Director Stephen E. Sterrett purchased 10,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average price of $8.55 per share, for a total transaction of $85,500.00. Following the completion of the transaction, the director directly owned 10,000 shares in the company, valued at $85,500. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on AMCR. Jefferies Financial Group began coverage on shares of Amcor in a research note on Wednesday, July 2nd. They issued 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. Wells Fargo & Company lifted their price objective on shares of Amcor from $10.00 to $11.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Robert W. Baird cut their price objective on shares of Amcor from $11.00 to $10.00 and set a "neutral" rating for the company in a research report on Friday, August 15th. Finally, Truist Financial set a $11.00 target price on shares of Amcor and gave the company a "buy" rating in a report on Friday, July 11th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Amcor has an average rating of "Moderate Buy" and a consensus target price of $11.42.

Amcor Price Performance

Shares of NYSE AMCR traded up $0.05 during midday trading on Thursday, hitting $8.56. The company had a trading volume of 21,097,636 shares, compared to its average volume of 29,048,258. The firm has a market capitalization of $12.36 billion, a price-to-earnings ratio of 23.76, a price-to-earnings-growth ratio of 1.10 and a beta of 0.74. Amcor PLC has a twelve month low of $8.37 and a twelve month high of $11.48. The business has a 50-day simple moving average of $9.33 and a two-hundred day simple moving average of $9.44. The company has a quick ratio of 0.71, a current ratio of 1.21 and a debt-to-equity ratio of 1.18.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.18 billion. Amcor had a net margin of 3.40% and a return on equity of 19.43%. Amcor's revenue was up 43.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.21 earnings per share. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. Equities research analysts anticipate that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Friday, September 5th will be given a $0.1275 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.0%. Amcor's dividend payout ratio (DPR) 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.