Burney Co. Sells 41,900 Shares of Amcor PLC $AMCR

Key Points

• Burney Co. sold 41,900 shares of Amcor, cutting its position by 18.6% to 182,861 shares worth $1.525 million at the end of the quarter.
• Analysts are generally positive: AMCR carries a consensus "Moderate Buy" rating with an average target of $52.00 and recent price targets ranging as high as $60.00.
• Amcor pays a quarterly dividend of $0.65 (annualized $2.60) for a yield of 6.3%, but the dividend payout ratio is elevated at 169.93%.

Burney Co. lessened its position in shares of Amcor PLC (NYSE:AMCR - Free Report) by 18.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 182,861 shares of the company's stock after selling 41,900 shares during the period. Burney Co.'s holdings in Amcor were worth $1,525,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AMCR. M&G PLC raised its stake in Amcor by 26.6% during the third quarter. M&G PLC now owns 108,333,984 shares of the company's stock worth $866,672,000 after buying an additional 22,737,979 shares during the last quarter. Federated Hermes Inc. grew its holdings in Amcor by 103.9% in the third quarter. Federated Hermes Inc. now owns 39,344,317 shares of the company's stock worth $321,837,000 after purchasing an additional 20,052,979 shares during the period. AQR Capital Management LLC increased its stake in Amcor by 398.6% in the second quarter. AQR Capital Management LLC now owns 16,015,722 shares of the company's stock valued at $147,184,000 after purchasing an additional 12,803,785 shares in the last quarter. Invesco Ltd. increased its stake in Amcor by 29.9% in the third quarter. Invesco Ltd. now owns 47,111,558 shares of the company's stock valued at $385,373,000 after purchasing an additional 10,846,351 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Amcor by 7.2% during the third quarter. State Street Corp now owns 139,077,241 shares of the company's stock valued at $1,137,652,000 after purchasing an additional 9,375,255 shares during the period. Institutional investors own 45.14% of the company's stock.

Wall Street Analyst Weigh In

AMCR has been the subject of several research reports. Deutsche Bank Aktiengesellschaft began coverage on Amcor in a research note on Wednesday, April 1st. They issued a "buy" rating and a $50.00 target price for the company. Morgan Stanley downgraded Amcor from an "overweight" rating to an "equal weight" rating and set a $46.00 price target on the stock. in a research note on Wednesday, January 28th. Truist Financial increased their price target on Amcor from $55.00 to $60.00 and gave the stock a "buy" rating in a report on Tuesday, January 6th. Robert W. Baird set a $54.00 price objective on Amcor in a research note on Wednesday, February 4th. Finally, Citigroup restated a "buy" rating on shares of Amcor in a report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $52.00.

Amcor Stock Down 0.5%

Shares of NYSE AMCR opened at $40.95 on Tuesday. The stock has a market capitalization of $18.92 billion, a P/E ratio of 26.77, a P/E/G ratio of 0.96 and a beta of 0.71. The company has a 50-day moving average price of $44.12 and a 200-day moving average price of $42.56. Amcor PLC has a 1 year low of $37.94 and a 1 year high of $50.94. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.30 and a quick ratio of 0.77.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.03. The firm had revenue of $3.24 billion during the quarter, compared to analysts' expectations of $5.53 billion. Amcor had a net margin of 3.04% and a return on equity of 15.57%. The business's revenue was up 68.1% on a year-over-year basis. During the same period last year, the company earned $0.80 earnings per share. Amcor has set its FY 2026 guidance at 4.000-4.150 EPS. On average, equities research analysts forecast that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Stockholders of record on Wednesday, February 25th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date was Wednesday, February 25th. Amcor's dividend payout ratio (DPR) is currently 169.93%.

About Amcor

Amcor NYSE: AMCR is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company's product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor's packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.

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