Amcor PLC $AMCR Shares Sold by USS Investment Management Ltd

Key Points

• USS Investment Management Ltd reduced its holdings in Amcor PLC by 47.4%, selling 223,500 shares and leaving them with 248,104 shares valued at approximately $2.4 million.
• Amcor announced a quarterly dividend of $0.1275 per share, reflecting an annualized yield of 6.2%, with a payout ratio of 141.67%.
• Recent analyst ratings show mixed sentiments, with seven analysts rating Amcor as a "buy" and a consensus target price of $11.42.

USS Investment Management Ltd lowered its position in Amcor PLC (NYSE:AMCR - Free Report) by 47.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 248,104 shares of the company's stock after selling 223,500 shares during the quarter. USS Investment Management Ltd's holdings in Amcor were worth $2,403,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Rakuten Securities Inc. increased its position in shares of Amcor by 18,725.0% in the first quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock valued at $29,000 after buying an additional 2,996 shares in the last quarter. HM Payson & Co. purchased a new position in shares of Amcor in the first quarter valued at $30,000. Brentview Investment Management LLC purchased a new position in shares of Amcor in the first quarter valued at $31,000. CVA Family Office LLC increased its position in shares of Amcor by 234.1% in the first quarter. CVA Family Office LLC now owns 3,254 shares of the company's stock valued at $32,000 after buying an additional 2,280 shares in the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Amcor in the first quarter valued at $36,000. Hedge funds and other institutional investors own 45.14% of the company's stock.

Analyst Ratings Changes

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

Insider Transactions at Amcor

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

Amcor Trading Down 0.7%

NYSE:AMCR traded down $0.06 during mid-day trading on Friday, reaching $8.27. The company's stock had a trading volume of 12,939,915 shares, compared to its average volume of 20,812,420. The company's fifty day simple moving average is $9.11 and its two-hundred day simple moving average is $9.28. 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 PLC has a twelve month low of $8.16 and a twelve month high of $11.48. The stock has a market cap of $11.95 billion, a P/E ratio of 22.97, a P/E/G ratio of 1.07 and a beta of 0.72.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly 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 business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same period in the previous year, the business posted $0.21 earnings per share. The firm'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, equities analysts predict that Amcor PLC will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The firm also recently declared 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. This represents a $0.51 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date of this dividend is Friday, September 5th. Amcor's dividend payout ratio (DPR) is presently 141.67%.

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.