Cinctive Capital Management LP Takes $646,000 Position in Amcor PLC $AMCR

Key Points

• Cinctive Capital Management LP invested $646,000 in Amcor PLC by acquiring 66,639 shares during the first quarter.
• Analysts have set an average price target of $11.42 for Amcor, with several ratings indicating it is a "Moderate Buy."
• Amcor recently announced a quarterly dividend of $0.1275 per share, resulting in an annualized dividend yield of 6.2%.

Cinctive Capital Management LP bought a new stake in shares of Amcor PLC (NYSE:AMCR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 66,639 shares of the company's stock, valued at approximately $646,000.

Other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. boosted its holdings in shares of Amcor by 20.0% in the first quarter. UMB Bank n.a. now owns 6,386 shares of the company's stock worth $62,000 after buying an additional 1,066 shares during the period. AlphaStar Capital Management LLC raised its holdings in shares of Amcor by 2.4% during the first quarter. AlphaStar Capital Management LLC now owns 50,472 shares of the company's stock valued at $490,000 after acquiring an additional 1,185 shares during the period. Koshinski Asset Management Inc. lifted its position in shares of Amcor by 10.1% in the 1st quarter. Koshinski Asset Management Inc. now owns 13,659 shares of the company's stock valued at $132,000 after acquiring an additional 1,252 shares in the last quarter. Virtue Capital Management LLC boosted its stake in Amcor by 2.8% in the 4th quarter. Virtue Capital Management LLC now owns 45,924 shares of the company's stock worth $432,000 after purchasing an additional 1,259 shares during the period. Finally, Private Trust Co. NA grew its position in Amcor by 5.1% during the 1st quarter. Private Trust Co. NA now owns 27,301 shares of the company's stock worth $265,000 after purchasing an additional 1,315 shares in the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMCR has been the subject of a number of research analyst reports. Truist Financial set a $11.00 target price on Amcor and gave the company a "buy" rating in a report on Friday, July 11th. Wells Fargo & Company raised their price objective on Amcor from $10.00 to $11.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Robert W. Baird dropped their target price on Amcor from $11.00 to $10.00 and set a "neutral" rating on the stock in a report on Friday, August 15th. UBS Group raised shares of Amcor from a "neutral" rating to a "buy" rating in a research report on Thursday, June 26th. Finally, The Goldman Sachs Group assumed coverage on shares of Amcor in a report on Wednesday. They set a "buy" rating for the company. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $11.42.

Insider Activity at Amcor

In other Amcor news, Director Stephen E. Sterrett purchased 10,000 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were acquired 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 $85,500. This trade 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 currently owned by company insiders.

Amcor Stock Up 1.3%

AMCR stock traded up $0.11 during mid-day trading on Thursday, hitting $8.34. The stock had a trading volume of 25,432,576 shares, compared to its average volume of 26,832,020. Amcor PLC has a 1-year low of $8.16 and a 1-year high of $11.48. The company has a fifty day moving average of $9.14 and a 200 day moving average of $9.31. The company has a current ratio of 1.21, a quick ratio of 0.71 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $12.05 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 1.06 and a beta of 0.72.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly 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). Amcor had a net margin of 3.40% and a return on equity of 19.43%. The firm had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.18 billion. During the same quarter in the prior year, the firm earned $0.21 earnings per share. The firm'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, equities analysts expect that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

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