Russell Investments Group Ltd. Raises Stock Holdings in Amcor PLC $AMCR

Key Points

• Russell Investments Group Ltd. increased its holdings in Amcor PLC by 31.8% in Q1, now owning 1,163,089 shares valued at $11.28 million.
• Research firms have mixed ratings on Amcor, with seven analysts giving a "buy" rating and a consensus target price of $11.42.
• Amcor recently declared a quarterly dividend of $0.1275 per share, representing an annual yield of 6.0%, with a high payout ratio of 141.67%.

Russell Investments Group Ltd. increased its holdings in shares of Amcor PLC (NYSE:AMCR - Free Report) by 31.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,163,089 shares of the company's stock after buying an additional 280,636 shares during the period. Russell Investments Group Ltd. owned about 0.08% of Amcor worth $11,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of 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 buying an additional 9,119,308 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of 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 buying an additional 3,778,714 shares in the last quarter. Invesco Ltd. lifted its position 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 buying an additional 2,889,166 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Amcor by 5.1% during the 1st quarter. Federated Hermes Inc. now owns 18,747,111 shares of the company's stock valued at $181,847,000 after buying an additional 916,739 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Amcor by 11.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 18,700,717 shares of the company's stock valued at $175,967,000 after buying an additional 1,886,794 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company's stock.

Insider Activity

In related news, Director Stephen E. Sterrett bought 10,000 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was acquired at an average cost of $8.55 per share, with a total value of $85,500.00. Following the purchase, the director directly 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Amcor Trading Up 0.8%

Shares of AMCR traded up $0.0650 during midday trading on Friday, reaching $8.7150. The company had a trading volume of 20,394,453 shares, compared to its average volume of 29,410,276. Amcor PLC has a 1-year low of $8.37 and a 1-year high of $11.48. The stock has a market cap of $12.60 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 1.14 and a beta of 0.74. The firm has a 50 day simple moving average of $9.36 and a 200-day simple moving average of $9.47. 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 (NYSE:AMCR - Get Free Report) last issued 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 return on equity of 19.43% and a net margin of 3.40%.The company had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same period last year, the business earned $0.21 earnings per share. The firm's revenue was up 43.8% compared to the same quarter last year. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. Research analysts forecast 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. Shareholders of record on Friday, September 5th will be paid a $0.1275 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.9%. Amcor's dividend payout ratio (DPR) is 141.67%.

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.