Amcor PLC $AMCR Stock Position Cut by OVERSEA CHINESE BANKING Corp Ltd

Key Points

• OVERSEA CHINESE BANKING Corp cut its stake in Amcor by 30.2% in Q4, selling 172,888 shares and now holds 400,000 shares (about 0.09% of the company) valued at roughly $3.34 million; institutional investors own about 45.14% of Amcor.
• Analyst sentiment is mixed but mildly positive with a consensus rating of "Moderate Buy" and an average target price of $50.89, even as several firms have recently reduced price targets and downgraded the stock.
• Amcor pays a quarterly dividend of $0.65 (annualized $2.60) for a yield of 6.5%, but the dividend payout ratio is high at about 170%, raising questions about sustainability.

OVERSEA CHINESE BANKING Corp Ltd lessened its stake in Amcor PLC (NYSE:AMCR - Free Report) by 30.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 400,000 shares of the company's stock after selling 172,888 shares during the period. OVERSEA CHINESE BANKING Corp Ltd owned 0.09% of Amcor worth $3,336,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Shayne & Jacobs LLC grew its position in Amcor by 0.6% in the 4th quarter. Shayne & Jacobs LLC now owns 129,101 shares of the company's stock valued at $1,077,000 after buying an additional 755 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in Amcor by 3.2% in the 4th quarter. Stratos Wealth Partners LTD. now owns 26,857 shares of the company's stock valued at $224,000 after buying an additional 832 shares in the last quarter. Brookstone Capital Management boosted its position in shares of Amcor by 3.1% during the 4th quarter. Brookstone Capital Management now owns 31,231 shares of the company's stock valued at $260,000 after purchasing an additional 938 shares in the last quarter. Patton Fund Management Inc. boosted its position in shares of Amcor by 4.3% during the 4th quarter. Patton Fund Management Inc. now owns 26,109 shares of the company's stock valued at $218,000 after purchasing an additional 1,080 shares in the last quarter. Finally, New York Life Investment Management LLC boosted its position in shares of Amcor by 0.4% during the 3rd quarter. New York Life Investment Management LLC now owns 312,447 shares of the company's stock valued at $2,556,000 after purchasing an additional 1,314 shares in the last quarter. Institutional investors own 45.14% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Citigroup restated a "buy" rating on shares of Amcor in a research report on Thursday, February 12th. Wells Fargo & Company lowered shares of Amcor from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $48.00 to $43.00 in a research report on Friday, March 20th. Truist Financial reduced their price objective on shares of Amcor from $60.00 to $50.00 and set a "buy" rating for the company in a research report on Wednesday, April 15th. Morgan Stanley lowered shares of Amcor from an "overweight" rating to an "equal weight" rating and set a $46.00 price objective for the company. in a research report on Wednesday, January 28th. Finally, Robert W. Baird set a $54.00 price objective on shares of Amcor in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Amcor presently has a consensus rating of "Moderate Buy" and an average target price of $50.89.

Amcor Stock Performance

Shares of AMCR opened at $40.26 on Thursday. Amcor PLC has a one year low of $37.94 and a one year high of $50.94. The company has a 50-day moving average of $43.15 and a two-hundred day moving average of $42.56. The stock has a market cap of $18.60 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 0.97 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.30 and a quick ratio of 0.77.

Amcor (NYSE:AMCR - Get Free Report) last announced its earnings results on Tuesday, February 3rd. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.83 by $0.03. Amcor had a net margin of 3.04% and a return on equity of 15.57%. The company had revenue of $3.24 billion during the quarter, compared to analysts' expectations of $5.53 billion. During the same period last year, the company posted $0.80 earnings per share. The business's revenue for the quarter was up 68.1% on a year-over-year basis. Amcor has set its FY 2026 guidance at 4.000-4.150 EPS. On average, equities research analysts expect that Amcor PLC will post 3.95 earnings per share for the current year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Wednesday, February 25th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 6.5%. The ex-dividend date was Wednesday, February 25th. Amcor's dividend payout ratio (DPR) is presently 169.93%.

About Amcor

Amcor NYSE: AMCR is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company's product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor's packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.

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