Apollon Wealth Management LLC Increases Position in Amcor PLC $AMCR

Key Points

• Apollon Wealth Management LLC increased its shareholding in Amcor PLC by 635.3% during the second quarter, now owning 83,119 shares valued at approximately $764,000.
• Amcor has recently reported a quarterly earnings miss with $0.20 EPS against a consensus estimate of $0.21, alongside a revenue of $5.08 billion, lower than expected.
• The company announced a quarterly dividend of $0.1275, representing an annualized dividend yield of 6.3%, despite a relatively high dividend payout ratio of 141.67%.

Apollon Wealth Management LLC lifted its position in shares of Amcor PLC (NYSE:AMCR - Free Report) by 635.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 83,119 shares of the company's stock after buying an additional 71,815 shares during the period. Apollon Wealth Management LLC's holdings in Amcor were worth $764,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Rakuten Securities Inc. lifted its stake in shares of Amcor by 18,725.0% during 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 during the period. AdvisorNet Financial Inc lifted its stake in shares of Amcor by 839.8% during the second quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company's stock valued at $28,000 after buying an additional 2,704 shares during the period. HM Payson & Co. purchased a new position in shares of Amcor during the first quarter valued at approximately $30,000. Brentview Investment Management LLC purchased a new position in shares of Amcor during the first quarter valued at approximately $31,000. Finally, Adirondack Trust Co. purchased a new position in shares of Amcor during the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 45.14% of the company's stock.

Amcor Price Performance

Amcor stock opened at $8.05 on Thursday. Amcor PLC has a 52-week low of $7.81 and a 52-week high of $11.38. The firm has a fifty day moving average of $8.44 and a 200-day moving average of $9.02. The firm has a market capitalization of $18.55 billion, a P/E ratio of 22.35, a PEG ratio of 1.16 and a beta of 0.73. The company has a quick ratio of 0.71, a current ratio of 1.21 and a debt-to-equity ratio of 1.18.

Amcor (NYSE:AMCR - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported $0.20 earnings per share (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 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 company earned $0.21 EPS. Amcor's 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, analysts predict that Amcor PLC will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Friday, September 5th were given a $0.1275 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.51 annualized dividend and a dividend yield of 6.3%. Amcor's dividend payout ratio is presently 141.67%.

Insider Activity

In other news, Director Stephen E. Sterrett purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average cost of $8.55 per share, with a total value of $85,500.00. Following the acquisition, the director owned 10,000 shares in the company, valued at approximately $85,500. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is owned by insiders.

Analyst Ratings Changes

AMCR has been the topic of several recent analyst reports. UBS Group raised shares of Amcor from a "neutral" rating to a "buy" rating in a research note on Thursday, June 26th. Royal Bank Of Canada began coverage on shares of Amcor in a research report on Monday, September 22nd. They set a "sector perform" rating for the company. Robert W. Baird dropped their price target on shares of Amcor from $11.00 to $10.00 and set a "neutral" rating for the company in a research report on Friday, August 15th. Truist Financial set a $11.00 price target on shares of Amcor and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, Wells Fargo & Company dropped their price target on shares of Amcor from $11.00 to $9.00 and set an "overweight" rating for the company in a research report on Wednesday. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $10.84.

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.

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