APG Asset Management N.V. Acquires 1,153,500 Shares of Amcor PLC $AMCR

Key Points

• APG Asset Management N.V. significantly increased its position in Amcor PLC by 103% during Q1, holding 2,273,370 shares worth approximately $20.4 million.
• Amcor recently announced a quarterly dividend of $0.1275 per share, representing a 5.9% dividend yield, with a payout ratio of 141.67%.
• Research analysts have given Amcor a consensus rating of "Moderate Buy" with target prices ranging from $10.00 to $12.00 following various adjustments from different firms.

APG Asset Management N.V. increased its holdings in shares of Amcor PLC (NYSE:AMCR - Free Report) by 103.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,273,370 shares of the company's stock after buying an additional 1,153,500 shares during the quarter. APG Asset Management N.V. owned about 0.16% of Amcor worth $20,414,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its position in shares of Amcor by 20.0% during the first quarter. UMB Bank n.a. now owns 6,386 shares of the company's stock worth $62,000 after purchasing an additional 1,066 shares during the period. AlphaStar Capital Management LLC raised its position in shares of Amcor by 2.4% during the first quarter. AlphaStar Capital Management LLC now owns 50,472 shares of the company's stock worth $490,000 after purchasing an additional 1,185 shares during the period. Koshinski Asset Management Inc. raised its position in shares of Amcor by 10.1% during the first quarter. Koshinski Asset Management Inc. now owns 13,659 shares of the company's stock worth $132,000 after purchasing an additional 1,252 shares during the period. Virtue Capital Management LLC raised its position in shares of Amcor by 2.8% during the fourth quarter. Virtue Capital Management LLC now owns 45,924 shares of the company's stock worth $432,000 after purchasing an additional 1,259 shares during the period. Finally, Utah Retirement Systems raised its position in shares of Amcor by 1.1% during the fourth quarter. Utah Retirement Systems now owns 120,076 shares of the company's stock worth $1,130,000 after purchasing an additional 1,300 shares during the period. Hedge funds and other institutional investors own 45.14% of the company's stock.

Analysts Set New Price Targets

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

Insider Transactions at Amcor

In other news, Director Stephen E. Sterrett purchased 10,000 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was purchased at an average price of $8.55 per share, with a total value of $85,500.00. Following the acquisition, the director directly owned 10,000 shares in the company, valued at approximately $85,500. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.60% of the stock is owned by corporate insiders.

Amcor Stock Up 1.1%

NYSE AMCR traded up $0.10 on Friday, reaching $8.65. The stock had a trading volume of 7,964,540 shares, compared to its average volume of 28,917,844. The business has a 50 day moving average price of $9.32 and a 200 day moving average price of $9.43. 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 1 year low of $8.37 and a 1 year high of $11.48. The company has a market capitalization of $12.49 billion, a price-to-earnings ratio of 23.99, a P/E/G ratio of 1.11 and a beta of 0.74.

Amcor (NYSE:AMCR - Get Free Report) last issued its earnings results 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 analysts' expectations of $5.18 billion. During the same quarter last year, the firm earned $0.21 EPS. The business's revenue for the quarter 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, analysts forecast that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Friday, September 5th will be paid a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.9%. The ex-dividend date is Friday, September 5th. Amcor's payout ratio is currently 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.