Adage Capital Partners GP L.L.C. Raises Stock Position in Amcor PLC $AMCR

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in Amcor PLC by 121.9%, owning 4,019,090 shares valued at approximately $39 million following the acquisition of an additional 2.2 million shares in the first quarter.
• Amcor reported Q2 earnings of $0.20 per share, slightly missing expectations, with revenue of $5.08 billion, marking a 43.8% year-over-year increase.
• The company announced a quarterly dividend of $0.1275, with a 6.1% dividend yield and a payout ratio of 141.67% for the fiscal year.

Adage Capital Partners GP L.L.C. boosted its position in shares of Amcor PLC (NYSE:AMCR - Free Report) by 121.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,019,090 shares of the company's stock after buying an additional 2,207,746 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.28% of Amcor worth $38,985,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Rakuten Securities Inc. lifted its holdings in Amcor by 18,725.0% during the first quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock worth $29,000 after acquiring an additional 2,996 shares in the last quarter. HM Payson & Co. bought a new position in Amcor during the first quarter worth about $30,000. Brentview Investment Management LLC bought a new position in Amcor during the first quarter worth about $31,000. CVA Family Office LLC lifted its holdings in Amcor by 234.1% during the first quarter. CVA Family Office LLC now owns 3,254 shares of the company's stock worth $32,000 after acquiring an additional 2,280 shares in the last quarter. Finally, N.E.W. Advisory Services LLC bought a new position in Amcor during the first quarter worth about $36,000. Institutional investors and hedge funds own 45.14% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AMCR. Robert W. Baird dropped their price target on Amcor from $11.00 to $10.00 and set a "neutral" rating on the stock in a research note on Friday, August 15th. Wells Fargo & Company lifted their price target on Amcor from $10.00 to $11.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. UBS Group raised Amcor from a "neutral" rating to a "buy" rating in a research note on Thursday, June 26th. Truist Financial set a $11.00 price target on Amcor and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, 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 target for the company. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $11.42.

Insider Buying and Selling

In other news, Director Stephen E. Sterrett bought 10,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was bought at an average cost of $8.55 per share, for a total transaction of $85,500.00. Following the completion of the acquisition, the director owned 10,000 shares in the company, valued at approximately $85,500. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.60% of the stock is owned by corporate insiders.

Amcor Price Performance

NYSE AMCR traded down $0.07 on Monday, hitting $8.24. 20,448,850 shares of the company's stock were exchanged, compared to its average volume of 28,749,592. The stock has a market cap of $11.90 billion, a price-to-earnings ratio of 22.88, a P/E/G ratio of 1.07 and a beta of 0.72. 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 52 week low of $8.16 and a 52 week high of $11.48. The stock has a 50-day moving average of $9.23 and a 200-day moving average of $9.35.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). The business had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.18 billion. Amcor had a net margin of 3.40% and a return on equity of 19.43%. Amcor's revenue was up 43.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.21 EPS. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. Analysts expect that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

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 given a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 6.2%. The ex-dividend date is Friday, September 5th. Amcor's dividend payout ratio is presently 141.67%.

Amcor Company 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.