Cresset Asset Management LLC Cuts Holdings in Amcor PLC $AMCR

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Cresset Asset Management LLC lessened its stake in shares of Amcor PLC (NYSE:AMCR - Free Report) by 36.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 525,133 shares of the company's stock after selling 298,269 shares during the period. Cresset Asset Management LLC's holdings in Amcor were worth $5,094,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Amcor by 15.5% during the first quarter. Vanguard Group Inc. now owns 68,105,901 shares of the company's stock worth $660,627,000 after buying an additional 9,119,308 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Amcor by 8.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 49,831,643 shares of the company's stock worth $483,367,000 after purchasing an additional 3,778,714 shares in the last quarter. Invesco Ltd. increased its stake in shares of Amcor by 9.5% in the first quarter. Invesco Ltd. now owns 33,314,287 shares of the company's stock worth $323,149,000 after purchasing an additional 2,889,166 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Amcor by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 19,191,544 shares of the company's stock worth $186,142,000 after purchasing an additional 490,827 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in shares of Amcor by 5.1% in the first quarter. Federated Hermes Inc. now owns 18,747,111 shares of the company's stock worth $181,847,000 after purchasing an additional 916,739 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company's stock.

Amcor Price Performance

Shares of AMCR stock traded up $0.0650 during trading hours on Friday, reaching $8.7150. The stock had a trading volume of 20,394,453 shares, compared to its average volume of 29,410,276. The stock's fifty day simple moving average is $9.36 and its 200 day simple moving average is $9.47. 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 PLC has a 12 month low of $8.37 and a 12 month high of $11.48. The firm has a market capitalization of $12.60 billion, a PE ratio of 24.21, a PEG ratio of 1.14 and a beta of 0.74.

Amcor (NYSE:AMCR - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported $0.20 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 firm 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 posted $0.21 earnings per share. Amcor'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. On average, equities research analysts predict that Amcor PLC will post 0.74 EPS for the current year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Friday, September 5th will be given a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date is Friday, September 5th. Amcor's dividend payout ratio (DPR) is 141.67%.

Insider Transactions at Amcor

In related news, Director Stephen E. Sterrett purchased 10,000 shares of the business's stock in a transaction 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 purchase, the director directly owned 10,000 shares in the company, valued at approximately $85,500. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AMCR shares. UBS Group upgraded shares of Amcor from a "neutral" rating to a "buy" rating in a research note on Thursday, June 26th. Truist Financial set a $11.00 target price on shares of Amcor and gave the stock a "buy" rating in a research note on Friday, July 11th. Jefferies Financial Group started coverage on shares of Amcor in a research note on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 target price for the company. 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. Finally, Wells Fargo & Company lifted their target price on shares of Amcor from $10.00 to $11.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Amcor has an average rating of "Moderate Buy" and an average target price of $11.42.

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.