Alliancebernstein L.P. Boosts Position in Amcor PLC $AMCR

Key Points

• Alliancebernstein L.P. increased its holdings in Amcor PLC by 19.9%, owning approximately 0.15% of the company valued at $21.3 million as of the most recent filing.
• Amcor has received multiple price target revisions, with a consensus rating of "Moderate Buy" and a target price of $11.42 from analysts.
• The company recently declared a quarterly dividend of $0.1275 per share, resulting in an annualized yield of 6.2%, despite a dividend payout ratio of 141.67%.

Alliancebernstein L.P. raised its holdings in shares of Amcor PLC (NYSE:AMCR - Free Report) by 19.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,200,243 shares of the company's stock after purchasing an additional 365,307 shares during the period. Alliancebernstein L.P. owned 0.15% of Amcor worth $21,342,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Amcor by 15.5% during the 1st quarter. Vanguard Group Inc. now owns 68,105,901 shares of the company's stock valued at $660,627,000 after purchasing an additional 9,119,308 shares during the period. Charles Schwab Investment Management Inc. increased its position 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 purchasing an additional 3,778,714 shares during the period. Invesco Ltd. increased its position in 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 purchasing an additional 2,889,166 shares during the period. Wellington Management Group LLP increased its position in Amcor by 9.8% during the 1st quarter. Wellington Management Group LLP now owns 30,707,205 shares of the company's stock valued at $297,860,000 after purchasing an additional 2,735,320 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Amcor by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 19,191,544 shares of the company's stock valued at $186,142,000 after purchasing an additional 490,827 shares during the period. Hedge funds and other institutional investors own 45.14% of the company's stock.

Insider Buying and Selling

In related news, Director Stephen E. Sterrett bought 10,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average cost of $8.55 per share, for a total transaction of $85,500.00. Following the purchase, the director directly owned 10,000 shares of the company's stock, valued at approximately $85,500. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.60% of the stock is owned by company insiders.

Amcor Stock Down 0.7%

Shares of NYSE:AMCR traded down $0.06 during trading on Friday, reaching $8.27. The stock had a trading volume of 12,939,915 shares, compared to its average volume of 23,443,192. Amcor PLC has a one year low of $8.16 and a one year high of $11.48. The company has a market capitalization of $11.95 billion, a P/E ratio of 22.97, a PEG ratio of 1.07 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. The firm's 50-day simple moving average is $9.11 and its 200 day simple moving average is $9.30.

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

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Friday, September 5th will be paid a $0.1275 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.51 dividend on an annualized basis and a yield of 6.2%. Amcor's dividend payout ratio (DPR) is 141.67%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AMCR. Robert W. Baird cut their target price on shares of Amcor from $11.00 to $10.00 and set a "neutral" rating on the stock in a research report on Friday, August 15th. Truist Financial set a $11.00 target price on shares of Amcor and gave the company a "buy" rating in a research report on Friday, July 11th. The Goldman Sachs Group initiated coverage on shares of Amcor in a report on Wednesday. They issued a "buy" rating on the stock. UBS Group upgraded shares of Amcor from a "neutral" rating to a "buy" rating in a report on Thursday, June 26th. Finally, Jefferies Financial Group initiated coverage on shares of Amcor in a report on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 price target on the stock. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $11.42.

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.