Ballentine Partners LLC Invests $4.02 Million in Amcor PLC $AMCR

Key Points

• Ballentine Partners LLC invested approximately $4.02 million in Amcor PLC by purchasing 436,997 shares in the second quarter.
• Amcor reported quarterly earnings of $0.20 per share, below analysts' expectations of $0.21, with a revenue of $5.08 billion, missing the forecast of $5.18 billion.
• The company declared a quarterly dividend of $0.1275 per share, which corresponds to an annualized dividend yield of 6.3% and a payout ratio of 141.67%.

Ballentine Partners LLC purchased a new stake in shares of Amcor PLC (NYSE:AMCR - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 436,997 shares of the company's stock, valued at approximately $4,016,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Amcor by 15.5% in the first quarter. Vanguard Group Inc. now owns 68,105,901 shares of the company's stock valued at $660,627,000 after acquiring an additional 9,119,308 shares during the period. Nuveen LLC bought a new stake in shares of Amcor in the first quarter worth about $37,522,000. Charles Schwab Investment Management Inc. increased its holdings in Amcor by 8.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 49,831,643 shares of the company's stock valued at $483,367,000 after purchasing an additional 3,778,714 shares during the period. Invesco Ltd. increased its holdings in Amcor by 9.5% during the 1st quarter. Invesco Ltd. now owns 33,314,287 shares of the company's stock valued at $323,149,000 after purchasing an additional 2,889,166 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Amcor by 34.9% during the 1st quarter. Bank of New York Mellon Corp now owns 10,613,159 shares of the company's stock valued at $102,948,000 after purchasing an additional 2,747,846 shares during the last quarter. Institutional investors own 45.14% of the company's stock.

Amcor Stock Down 2.0%

NYSE:AMCR opened at $8.09 on Wednesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.21 and a quick ratio of 0.71. The firm's 50-day moving average price is $8.91 and its 200-day moving average price is $9.20. The company has a market capitalization of $11.69 billion, a PE ratio of 22.46, a P/E/G ratio of 1.08 and a beta of 0.72. Amcor PLC has a 1-year low of $8.07 and a 1-year high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported $0.20 earnings per share (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 business had revenue of $5.08 billion for the quarter, compared to analysts' expectations of $5.18 billion. During the same period last year, the business earned $0.21 earnings per share. The company'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. On average, equities analysts predict that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend is Friday, September 5th. Amcor's payout ratio is currently 141.67%.

Insider Buying and Selling at Amcor

In related news, Director Stephen E. Sterrett acquired 10,000 shares of Amcor stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average price of $8.55 per share, with a total value of $85,500.00. Following the transaction, the director directly owned 10,000 shares in the company, valued at approximately $85,500. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Robert W. Baird dropped their price objective on Amcor from $11.00 to $10.00 and set a "neutral" rating for the company in a report on Friday, August 15th. Royal Bank Of Canada assumed coverage on Amcor in a research note on Monday. They issued a "sector perform" rating for the company. Jefferies Financial Group assumed coverage on shares of Amcor in a report on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 price target on the stock. Wells Fargo & Company upped their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Amcor in a research report on Friday, September 19th. They issued an "overweight" rating and a $10.00 target price for the company. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.21.

Amcor Company 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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