Amcor PLC $AMCR Position Increased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lifted its holdings in Amcor PLC (NYSE:AMCR - Free Report) by 135.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,523,476 shares of the company's stock after buying an additional 875,994 shares during the quarter. Envestnet Portfolio Solutions Inc. owned approximately 0.11% of Amcor worth $14,001,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sequoia Financial Advisors LLC raised its stake in Amcor by 166.0% during the second quarter. Sequoia Financial Advisors LLC now owns 37,723 shares of the company's stock worth $347,000 after acquiring an additional 23,539 shares during the period. Yousif Capital Management LLC grew its holdings in shares of Amcor by 15.6% during the second quarter. Yousif Capital Management LLC now owns 932,340 shares of the company's stock valued at $8,568,000 after purchasing an additional 125,783 shares during the last quarter. MGO One Seven LLC acquired a new stake in shares of Amcor during the 2nd quarter worth approximately $127,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Amcor by 4,928.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,732,524 shares of the company's stock worth $44,817,000 after purchasing an additional 4,638,412 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in Amcor during the 2nd quarter valued at approximately $43,000. 45.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Amcor

In other news, Director Stephen E. Sterrett bought 10,000 shares of the firm's 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 purchase, the director directly owned 10,000 shares of the company's stock, 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 the SEC website. 0.32% of the stock is currently owned by company insiders.

Amcor Stock Up 0.8%

AMCR stock opened at $8.00 on Tuesday. The firm's 50-day moving average is $8.49 and its two-hundred day moving average is $9.03. The company has a market capitalization of $18.43 billion, a price-to-earnings ratio of 22.21, a price-to-earnings-growth ratio of 1.13 and a beta of 0.73. Amcor PLC has a 52 week low of $7.81 and a 52 week high of $11.46. 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 posted its quarterly earnings data on Thursday, August 14th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate 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 last year, the business earned $0.21 earnings per share. The company's 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, analysts forecast that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Friday, September 5th were paid a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend was Friday, September 5th. Amcor's payout ratio is currently 141.67%.

Analysts Set New Price Targets

A number of research firms have issued reports on AMCR. JPMorgan Chase & Co. started coverage on Amcor in a research note on Friday, September 19th. They issued an "overweight" rating and a $10.00 target price on the stock. The Goldman Sachs Group initiated coverage on shares of Amcor in a research report on Wednesday, September 10th. They issued a "buy" rating on the stock. Wells Fargo & Company boosted their target price on shares of Amcor from $10.00 to $11.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. UBS Group upgraded shares of Amcor from a "neutral" rating to a "buy" rating in a research report on Thursday, June 26th. Finally, Truist Financial set a $11.00 price target on Amcor and gave the company a "buy" rating in a 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 stock. According to data from MarketBeat.com, Amcor currently has a consensus rating of "Moderate Buy" and a consensus price target of $11.09.

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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