AQR Capital Management LLC Boosts Stake in Amcor PLC $AMCR

AQR Capital Management LLC boosted its stake in Amcor PLC (NYSE:AMCR - Free Report) by 123.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,211,937 shares of the company's stock after acquiring an additional 1,773,065 shares during the quarter. AQR Capital Management LLC owned 0.22% of Amcor worth $31,043,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Adage Capital Partners GP L.L.C. grew its position in Amcor by 121.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 4,019,090 shares of the company's stock worth $38,985,000 after acquiring an additional 2,207,746 shares during the period. Perbak Capital Partners LLP acquired a new position in Amcor in the first quarter valued at about $1,248,000. Dark Forest Capital Management LP boosted its stake in Amcor by 962.2% during the first quarter. Dark Forest Capital Management LP now owns 1,369,104 shares of the company's stock worth $13,280,000 after buying an additional 1,240,210 shares during the period. PDT Partners LLC purchased a new stake in shares of Amcor in the 1st quarter valued at approximately $4,736,000. Finally, Troluce Capital Advisors LLC lifted its holdings in shares of Amcor by 214.4% in the 1st quarter. Troluce Capital Advisors LLC now owns 2,098,820 shares of the company's stock worth $20,359,000 after acquiring an additional 1,431,197 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company's stock.

Insider Activity at Amcor

In other news, Director Stephen E. Sterrett acquired 10,000 shares of the firm's stock in a transaction on Tuesday, August 19th. The shares were bought at an average price of $8.55 per share, for a total transaction of $85,500.00. Following the acquisition, the director owned 10,000 shares of the company's stock, 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 through this hyperlink. Insiders own 0.60% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on AMCR. Robert W. Baird decreased their target price on Amcor from $11.00 to $10.00 and set a "neutral" rating on the stock in a research note on Friday, August 15th. Jefferies Financial Group initiated coverage on shares of Amcor in a report on Wednesday, July 2nd. They set a "buy" rating and a $12.00 target price on the stock. Truist Financial set a $11.00 target price on Amcor and gave the company a "buy" rating in a report on Friday, July 11th. The Goldman Sachs Group started coverage on Amcor in a research report on Wednesday. They set a "buy" rating for the company. Finally, Wells Fargo & Company boosted their price target on shares of Amcor from $10.00 to $11.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $11.42.

Amcor Stock Down 0.3%

AMCR traded down $0.03 during trading on Friday, hitting $8.31. The stock had a trading volume of 5,073,318 shares, compared to its average volume of 28,464,359. Amcor PLC has a twelve month low of $8.16 and a twelve month high of $11.48. The stock has a 50 day simple moving average of $9.14 and a two-hundred day simple moving average of $9.31. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.71 and a current ratio of 1.21. The company has a market capitalization of $12.00 billion, a PE ratio of 23.07, a PEG ratio of 1.06 and a beta of 0.72.

Amcor (NYSE:AMCR - Get Free Report) last released its earnings results 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). The firm had revenue of $5.08 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 earnings per share. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. On average, research analysts predict that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Friday, September 5th will be given a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 6.1%. The ex-dividend date is Friday, September 5th. Amcor's dividend payout ratio (DPR) is 141.67%.

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.