Appian Way Asset Management LP Sells 872,369 Shares of Amcor PLC $AMCR

Key Points

• Appian Way Asset Management LP has reduced its holdings in Amcor PLC by 48.3%, now owning 933,729 shares, which accounts for 2.0% of its total portfolio.
• Despite recent challenges, Amcor reported revenues of $5.08 billion for the last quarter, albeit missing expectations, with a net margin of 3.40% and a return on equity of 19.43%.
• The company has announced a quarterly dividend of $0.1275 per share, offering a 5.9% yield, although its current payout ratio stands at 141.67%.

Appian Way Asset Management LP decreased its holdings in shares of Amcor PLC (NYSE:AMCR - Free Report) by 48.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 933,729 shares of the company's stock after selling 872,369 shares during the quarter. Amcor comprises approximately 2.0% of Appian Way Asset Management LP's portfolio, making the stock its 14th biggest holding. Appian Way Asset Management LP owned approximately 0.06% of Amcor worth $9,057,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMCR. AXA S.A. raised its holdings in Amcor by 102.2% during the 4th quarter. AXA S.A. now owns 353,594 shares of the company's stock valued at $3,327,000 after acquiring an additional 178,711 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Amcor by 39.2% in the fourth quarter. BNP Paribas Financial Markets now owns 3,053,774 shares of the company's stock worth $28,736,000 after purchasing an additional 860,446 shares during the period. Bridgefront Capital LLC bought a new position in shares of Amcor in the fourth quarter worth $618,000. Centiva Capital LP increased its holdings in shares of Amcor by 89.0% in the fourth quarter. Centiva Capital LP now owns 180,577 shares of the company's stock worth $1,699,000 after purchasing an additional 85,030 shares during the period. Finally, Caption Management LLC bought a new position in shares of Amcor in the fourth quarter worth $2,060,000. Institutional investors own 45.14% of the company's stock.

Amcor Trading Down 0.8%

Shares of Amcor stock traded down $0.07 during trading on Friday, reaching $8.29. 20,276,021 shares of the stock were exchanged, compared to its average volume of 26,789,234. The company has a quick ratio of 0.71, a current ratio of 1.21 and a debt-to-equity ratio of 1.18. The stock's fifty day moving average is $9.23 and its 200 day moving average is $9.36. The firm has a market cap of $11.97 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 1.07 and a beta of 0.72. Amcor PLC has a 1 year low of $8.23 and a 1 year high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.20 EPS for the quarter, missing the consensus estimate 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 analysts' expectations of $5.18 billion. During the same quarter last year, the business earned $0.21 earnings per share. The business'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. As a group, equities research analysts expect that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Friday, September 5th will be issued a $0.1275 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.51 annualized dividend and a yield of 6.2%. Amcor's dividend payout ratio (DPR) is currently 141.67%.

Insider Transactions at Amcor

In other Amcor news, Director Stephen E. Sterrett purchased 10,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average price of $8.55 per share, for a total transaction 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on AMCR. Robert W. Baird decreased their price target on shares of Amcor from $11.00 to $10.00 and set a "neutral" rating on the stock in a report on Friday, August 15th. Truist Financial set a $11.00 target price on Amcor and gave the company a "buy" rating in a research note on Friday, July 11th. Wells Fargo & Company increased their target price 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. Finally, Jefferies Financial Group began coverage on Amcor in a research note on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Amcor presently has a consensus rating of "Moderate Buy" and a consensus 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.