D.A. Davidson & CO. Acquires 26,538 Shares of Amcor PLC $AMCR

Key Points

• D.A. Davidson & Co. raised its stake in Amcor by 22.1%, buying 26,538 shares to hold 146,765 shares valued at about $1.224 million at the end of the quarter.
• Research consensus is a “Moderate Buy” with a target price of $50.89, though several analysts have recently cut ratings or lowered targets (e.g., Wells Fargo and Truist).
• Amcor pays a quarterly dividend of $0.65 (annualized $2.60) for a yield around 6.9%, but the payout ratio is very high at 169.93%, suggesting potential sustainability concerns.

D.A. Davidson & CO. raised its holdings in Amcor PLC (NYSE:AMCR - Free Report) by 22.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 146,765 shares of the company's stock after buying an additional 26,538 shares during the quarter. D.A. Davidson & CO.'s holdings in Amcor were worth $1,224,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. State Street Corp grew its position in shares of Amcor by 7.2% in the 3rd quarter. State Street Corp now owns 139,077,241 shares of the company's stock worth $1,137,652,000 after buying an additional 9,375,255 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Amcor by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company's stock worth $945,222,000 after buying an additional 1,845,627 shares during the last quarter. M&G PLC lifted its stake in shares of Amcor by 26.6% in the 3rd quarter. M&G PLC now owns 108,333,984 shares of the company's stock valued at $866,672,000 after purchasing an additional 22,737,979 shares during the period. Invesco Ltd. lifted its stake in shares of Amcor by 29.9% in the 3rd 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 during the period. Finally, Federated Hermes Inc. lifted its stake in shares of Amcor by 103.9% in the 3rd quarter. Federated Hermes Inc. now owns 39,344,317 shares of the company's stock valued at $321,837,000 after purchasing an additional 20,052,979 shares during the period. 45.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on AMCR shares. Wells Fargo & Company cut Amcor from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $48.00 to $43.00 in a research note on Friday, March 20th. Citigroup restated a "buy" rating on shares of Amcor in a research note on Thursday, February 12th. Truist Financial lowered their target price on Amcor from $60.00 to $50.00 and set a "buy" rating for the company in a research note on Wednesday, April 15th. Weiss Ratings cut Amcor from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, April 27th. Finally, Robert W. Baird set a $54.00 target price on Amcor in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $50.89.

Amcor Stock Down 0.7%

Shares of NYSE:AMCR opened at $37.77 on Friday. The stock has a fifty day simple moving average of $41.81 and a two-hundred day simple moving average of $42.51. The stock has a market capitalization of $17.45 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 1.05 and a beta of 0.64. Amcor PLC has a 12-month low of $37.22 and a 12-month high of $50.94. The company has a current ratio of 1.30, a quick ratio of 0.77 and a debt-to-equity ratio of 1.26.

Amcor (NYSE:AMCR - Get Free Report) last announced 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 business had revenue of $3.24 billion during the quarter, compared to analysts' expectations of $5.53 billion. Amcor had a return on equity of 15.57% and a net margin of 3.04%.The firm's quarterly revenue was up 68.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.80 earnings per share. Amcor has set its FY 2026 guidance at 4.000-4.150 EPS. On average, research analysts anticipate that Amcor PLC will post 3.94 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Wednesday, February 25th were paid a dividend of $0.65 per share. The ex-dividend date was Wednesday, February 25th. This represents a $2.60 dividend on an annualized basis and a yield of 6.9%. Amcor's payout ratio is presently 169.93%.

Amcor Company Profile

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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