Amcor PLC $AMCR Position Increased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. has increased its stake in Amcor PLC by 120.6% during the second quarter, owning 85,528 shares valued at approximately $786,000.
• Amcor reported an earnings per share (EPS) of $0.20 for the last quarter, missing analysts' expectations of $0.21, with quarterly revenue of $5.08 billion.
• The company recently declared a quarterly dividend of $0.1275 per share, resulting in an annualized yield of 6.3%.

Assenagon Asset Management S.A. raised its holdings in shares of Amcor PLC (NYSE:AMCR - Free Report) by 120.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 85,528 shares of the company's stock after purchasing an additional 46,763 shares during the period. Assenagon Asset Management S.A.'s holdings in Amcor were worth $786,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. UMB Bank n.a. increased its stake in Amcor by 20.0% during the first quarter. UMB Bank n.a. now owns 6,386 shares of the company's stock valued at $62,000 after purchasing an additional 1,066 shares during the last quarter. AlphaStar Capital Management LLC increased its stake in Amcor by 2.4% during the first quarter. AlphaStar Capital Management LLC now owns 50,472 shares of the company's stock valued at $490,000 after purchasing an additional 1,185 shares during the last quarter. Koshinski Asset Management Inc. increased its stake in Amcor by 10.1% during the first quarter. Koshinski Asset Management Inc. now owns 13,659 shares of the company's stock valued at $132,000 after purchasing an additional 1,252 shares during the last quarter. Private Trust Co. NA increased its stake in Amcor by 5.1% during the first quarter. Private Trust Co. NA now owns 27,301 shares of the company's stock valued at $265,000 after purchasing an additional 1,315 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its stake in Amcor by 0.9% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 157,588 shares of the company's stock valued at $1,529,000 after purchasing an additional 1,477 shares during the last quarter. Institutional investors own 45.14% of the company's stock.

Insiders Place Their Bets

In other Amcor news, Director Stephen E. Sterrett purchased 10,000 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was bought at an average cost of $8.55 per share, with a total value of $85,500.00. Following the acquisition, the director owned 10,000 shares of the company's stock, valued at $85,500. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.60% of the company's stock.

Amcor Stock Performance

Shares of AMCR opened at $8.06 on Friday. The firm has a 50-day moving average price of $8.82 and a 200 day moving average price of $9.16. The firm has a market capitalization of $11.65 billion, a PE ratio of 22.39, a P/E/G ratio of 1.05 and a beta of 0.72. 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 PLC has a 52-week low of $7.90 and a 52-week high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last announced its 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). Amcor had a net margin of 3.40% and a return on equity of 19.43%. The company had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.18 billion. During the same quarter in the prior year, the company earned $0.21 EPS. The business'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. On average, sell-side analysts anticipate that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Friday, September 5th were issued a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend was Friday, September 5th. Amcor's dividend payout ratio is presently 141.67%.

Analysts Set New Price Targets

Several research firms have recently commented on AMCR. UBS Group upgraded shares of Amcor from a "neutral" rating to a "buy" rating in a research report on Thursday, June 26th. Jefferies Financial Group began coverage on shares of Amcor in a research report on Wednesday, July 2nd. They set a "buy" rating and a $12.00 price target for the company. Royal Bank Of Canada began coverage on shares of Amcor in a research report on Monday, September 22nd. They set a "sector perform" rating for the company. Wells Fargo & Company upped their price target on shares of Amcor from $10.00 to $11.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Finally, Robert W. Baird lowered their price target 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. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $11.21.

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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