Bleakley Financial Group LLC Has $1.17 Million Stock Holdings in Amcor PLC $AMCR

Key Points

• Bleakley Financial Group LLC significantly increased its stake in Amcor PLC by 283.5%, owning 127,117 shares worth approximately $1.17 million after acquiring an additional 93,972 shares in Q2.
• Amcor announced a quarterly dividend of $0.1275, yielding 6.3%, with a dividend payout ratio of 141.67%.
• Wall Street analysts have given Amcor a consensus rating of "Moderate Buy" with an average price target of $10.84, indicating positive outlook for the stock.

Bleakley Financial Group LLC increased its stake in shares of Amcor PLC (NYSE:AMCR - Free Report) by 283.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,117 shares of the company's stock after purchasing an additional 93,972 shares during the quarter. Bleakley Financial Group LLC's holdings in Amcor were worth $1,168,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. AdvisorNet Financial Inc increased its position in Amcor by 839.8% during the 2nd quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company's stock worth $28,000 after purchasing an additional 2,704 shares in the last quarter. Adirondack Trust Co. acquired a new position in Amcor during the 2nd quarter worth approximately $29,000. HM Payson & Co. acquired a new position in Amcor during the 1st quarter worth approximately $30,000. Brentview Investment Management LLC acquired a new position in Amcor during the 1st quarter worth approximately $31,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new position in Amcor during the 2nd quarter worth approximately $33,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Stephen E. Sterrett bought 10,000 shares of the firm's 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 transaction, the director directly owned 10,000 shares of the company's stock, valued at approximately $85,500. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.32% of the company's stock.

Wall Street Analysts Forecast Growth

AMCR has been the subject of a number of research analyst reports. Jefferies Financial Group began coverage on shares of Amcor in a research report on Wednesday, July 2nd. They set a "buy" rating and a $12.00 price objective for the company. The Goldman Sachs Group began coverage on shares of Amcor in a research report on Wednesday, September 10th. They issued a "buy" rating for the company. Wells Fargo & Company decreased 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, October 15th. Robert W. Baird decreased 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. Finally, JPMorgan Chase & Co. began coverage on shares of Amcor in a research report on Friday, September 19th. They issued an "overweight" rating and a $10.00 price target for the company. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Amcor presently has a consensus rating of "Moderate Buy" and an average price target of $10.84.

Amcor Trading Down 1.0%

AMCR opened at $8.15 on Friday. Amcor PLC has a twelve month low of $7.81 and a twelve month high of $11.24. The company has a quick ratio of 0.71, a current ratio of 1.21 and a debt-to-equity ratio of 1.18. The company has a fifty day moving average of $8.25 and a 200-day moving average of $8.96. The stock has a market cap of $18.78 billion, a PE ratio of 22.63, a price-to-earnings-growth ratio of 1.16 and a beta of 0.73.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported $0.20 earnings per share 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 firm had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.18 billion. During the same quarter last year, the company earned $0.21 earnings per share. The company's quarterly revenue 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, sell-side analysts predict that Amcor PLC will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Friday, September 5th were issued a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date was Friday, September 5th. Amcor's dividend payout ratio (DPR) is presently 141.67%.

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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