Amcor PLC $AMCR Shares Purchased by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. increased its Amcor PLC shares by 141.4% in the second quarter, owning 1,549,056 shares valued at approximately $14.24 million.
• Amcor reported quarterly earnings of $0.20 per share, missing the consensus estimate and showcasing a 43.8% year-over-year revenue increase despite a revenue of $5.08 billion against a $5.18 billion estimate.
• The company announced a quarterly dividend of $0.1275 per share, reflecting an annual yield of 6.3% with a current payout ratio of 141.67%.

First Citizens Bank & Trust Co. boosted its position in shares of Amcor PLC (NYSE:AMCR - Free Report) by 141.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,549,056 shares of the company's stock after acquiring an additional 907,326 shares during the period. First Citizens Bank & Trust Co. owned about 0.11% of Amcor worth $14,236,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. State of Alaska Department of Revenue lifted its position in shares of Amcor by 51.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 464,293 shares of the company's stock worth $4,266,000 after purchasing an additional 158,082 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Amcor by 71.4% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,446,429 shares of the company's stock worth $22,483,000 after buying an additional 1,019,306 shares during the last quarter. Sound Income Strategies LLC boosted its position in shares of Amcor by 54,855.7% during the 2nd quarter. Sound Income Strategies LLC now owns 605,062 shares of the company's stock worth $5,561,000 after acquiring an additional 603,961 shares in the last quarter. OneDigital Investment Advisors LLC purchased a new position in shares of Amcor in the 1st quarter valued at about $121,000. Finally, Wedge Capital Management L L P NC raised its position in shares of Amcor by 20.6% during the 2nd quarter. Wedge Capital Management L L P NC now owns 772,904 shares of the company's stock worth $7,103,000 after acquiring an additional 132,002 shares in the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Stock Performance

NYSE AMCR opened at $8.15 on Thursday. The business has a 50 day moving average price of $8.28 and a 200 day moving average price of $8.97. The company has a market capitalization of $18.78 billion, a P/E ratio of 22.63, a PEG ratio of 1.16 and a beta of 0.73. Amcor PLC has a 1-year low of $7.81 and a 1-year high of $11.24. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.21 and a quick ratio of 0.71.

Amcor (NYSE:AMCR - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $5.08 billion for 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 company's quarterly revenue was up 43.8% compared to the same quarter last year. During the same period last year, the firm earned $0.21 EPS. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. Sell-side analysts expect that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

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

Analyst Upgrades and Downgrades

AMCR has been the topic of several recent research reports. UBS Group upgraded Amcor from a "neutral" rating to a "buy" rating in a research report on Thursday, June 26th. Weiss Ratings restated a "hold (c-)" rating on shares of Amcor in a research note on Wednesday, October 8th. The Goldman Sachs Group started coverage on shares of Amcor in a research report on Wednesday, September 10th. They issued a "buy" rating on the stock. 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. Finally, Robert W. Baird reduced their target price on shares of Amcor from $11.00 to $10.00 and set a "neutral" rating for the company in a research note on Friday, August 15th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $10.84.

Insiders Place Their Bets

In other Amcor news, Director Stephen E. Sterrett purchased 10,000 shares of Amcor stock in a transaction on Tuesday, August 19th. The shares were bought at an average price of $8.55 per share, with a total value of $85,500.00. Following the purchase, the director directly owned 10,000 shares in the company, valued at $85,500. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.32% of the company's stock.

Amcor 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.

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