Chevy Chase Trust Holdings LLC Raises Holdings in Amcor PLC $AMCR

Key Points

• Chevy Chase Trust Holdings LLC has increased its stake in Amcor PLC by 59.7%, now holding approximately 1.21 million shares valued at $11.1 million.
• Insider Director Stephen E. Sterrett purchased 10,000 shares of Amcor stock, indicating confidence in the company's performance.
• Amcor reported a net margin of 3.40% and a return on equity of 19.43% in its latest earnings results, with revenue up 43.8% year-over-year.

Chevy Chase Trust Holdings LLC boosted its stake in shares of Amcor PLC (NYSE:AMCR - Free Report) by 59.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,210,316 shares of the company's stock after purchasing an additional 452,300 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.08% of Amcor worth $11,123,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. State of Alaska Department of Revenue increased its holdings in Amcor by 51.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 464,293 shares of the company's stock worth $4,266,000 after purchasing an additional 158,082 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Amcor by 71.4% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,446,429 shares of the company's stock worth $22,483,000 after purchasing an additional 1,019,306 shares during the period. Sound Income Strategies LLC increased its holdings in shares of Amcor by 54,855.7% in the 2nd quarter. Sound Income Strategies LLC now owns 605,062 shares of the company's stock valued at $5,561,000 after acquiring an additional 603,961 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new position in shares of Amcor in the 1st quarter valued at about $121,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Amcor by 16.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,256,497 shares of the company's stock valued at $12,188,000 after acquiring an additional 175,731 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company's stock.

Insiders Place Their Bets

In related news, Director Stephen E. Sterrett acquired 10,000 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was bought at an average cost of $8.55 per share, with a total value of $85,500.00. Following the transaction, the director owned 10,000 shares of the company's stock, valued at $85,500. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.32% of the company's stock.

Amcor Price Performance

Shares of NYSE AMCR opened at $8.14 on Monday. The stock has a market cap of $18.77 billion, a PE ratio of 22.61, a price-to-earnings-growth 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 PLC has a 52-week low of $7.81 and a 52-week high of $11.33. The business has a 50-day moving average price of $8.38 and a 200 day moving average price of $8.99.

Amcor (NYSE:AMCR - Get Free Report) last announced its 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). 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%. The firm's revenue for the quarter was up 43.8% compared to the same quarter last year. During the same period last year, the company earned $0.21 earnings per share. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. Equities research analysts forecast that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

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

Analyst Upgrades and Downgrades

AMCR has been the topic of a number of recent analyst reports. Royal Bank Of Canada initiated coverage on Amcor in a report on Monday, September 22nd. They issued a "sector perform" rating on the stock. Weiss Ratings reiterated a "hold (c-)" rating on shares of Amcor in a report on Wednesday, October 8th. UBS Group upgraded Amcor from a "neutral" rating to a "buy" rating in a report on Thursday, June 26th. The Goldman Sachs Group initiated coverage on Amcor in a report on Wednesday, September 10th. They issued a "buy" rating on the stock. Finally, Jefferies Financial Group initiated coverage on Amcor in a report on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 price objective on the stock. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.84.

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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