Amcor PLC $AMCR Holdings Decreased by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC reduced its stake in Amcor PLC by 35.1%, now owning approximately 775,333 shares worth $7.49 million.
• Amcor recently announced a quarterly dividend of $0.1275 per share, with an annualized rate of $0.51, yielding 5.9%.
• The company reported Q2 earnings of $0.20 per share, missing expectations, with revenue of $5.08 billion, falling short of analyst estimates of $5.18 billion.

Hsbc Holdings PLC cut its position in shares of Amcor PLC (NYSE:AMCR - Free Report) by 35.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 775,333 shares of the company's stock after selling 419,785 shares during the quarter. Hsbc Holdings PLC owned 0.05% of Amcor worth $7,494,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Amcor by 15.5% during the first quarter. Vanguard Group Inc. now owns 68,105,901 shares of the company's stock worth $660,627,000 after acquiring an additional 9,119,308 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Amcor by 8.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 49,831,643 shares of the company's stock valued at $483,367,000 after acquiring an additional 3,778,714 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Amcor by 9.5% during the 1st quarter. Invesco Ltd. now owns 33,314,287 shares of the company's stock valued at $323,149,000 after acquiring an additional 2,889,166 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Amcor by 9.8% during the 1st quarter. Wellington Management Group LLP now owns 30,707,205 shares of the company's stock worth $297,860,000 after purchasing an additional 2,735,320 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Amcor by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 19,191,544 shares of the company's stock valued at $186,142,000 after acquiring an additional 490,827 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company's stock.

Insider Activity at Amcor

In related news, Director Stephen E. Sterrett purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average price of $8.55 per share, with a total value of $85,500.00. Following the completion of the acquisition, the director directly owned 10,000 shares in the company, valued at approximately $85,500. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is owned by company insiders.

Amcor Stock Up 0.8%

NYSE AMCR opened at $8.7150 on Monday. Amcor PLC has a 1-year low of $8.37 and a 1-year high of $11.48. The company has a market capitalization of $12.60 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 1.14 and a beta of 0.74. The stock's 50 day moving average is $9.36 and its two-hundred day moving average is $9.47. 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 (NYSE:AMCR - Get Free Report) last released its quarterly earnings results 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 net margin of 3.40% and a return on equity of 19.43%. The firm had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same quarter last year, the firm earned $0.21 earnings per share. Amcor's quarterly revenue was up 43.8% on a year-over-year basis. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. Equities analysts forecast that Amcor PLC 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 given a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date is Friday, September 5th. Amcor's dividend payout ratio is presently 141.67%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Robert W. Baird dropped their target price on shares of Amcor from $11.00 to $10.00 and set a "neutral" rating on the stock in a report on Friday, August 15th. Truist Financial set a $11.00 price objective on shares of Amcor and gave the stock a "buy" rating in a report on Friday, July 11th. Jefferies Financial Group assumed coverage on shares of Amcor in a research report on Wednesday, July 2nd. They set a "buy" rating and a $12.00 price objective for the company. Wells Fargo & Company lifted their target price on Amcor from $10.00 to $11.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Finally, UBS Group raised Amcor from a "neutral" rating to a "buy" rating in a report on Thursday, June 26th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Amcor currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.42.

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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