Dakota Wealth Management Purchases Shares of 197,920 Amcor PLC $AMCR

Key Points

• Dakota Wealth Management has acquired 197,920 shares of Amcor PLC valued at approximately $1.8 million during Q2.
• Amcor reported Q2 earnings of $0.20 EPS, missing estimates by $0.01, with a revenue of $5.08 billion, below the expected $5.18 billion.
• The company recently announced a quarterly dividend of $0.1275 per share, yielding 6.3%, despite a high dividend payout ratio of 141.67%.

Dakota Wealth Management purchased a new stake in Amcor PLC (NYSE:AMCR - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 197,920 shares of the company's stock, valued at approximately $1,819,000.

A number of other hedge funds also recently bought and sold shares of AMCR. AdvisorNet Financial Inc raised its position in Amcor by 839.8% in the 2nd quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company's stock valued at $28,000 after purchasing an additional 2,704 shares in the last quarter. Rakuten Securities Inc. raised its position in shares of Amcor by 18,725.0% during the 1st quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock worth $29,000 after acquiring an additional 2,996 shares in the last quarter. Adirondack Trust Co. acquired a new stake in shares of Amcor during the 2nd quarter worth about $29,000. HM Payson & Co. acquired a new stake in shares of Amcor during the 1st quarter worth about $30,000. Finally, Brentview Investment Management LLC acquired a new stake in shares of Amcor during the 1st quarter worth about $31,000. Institutional investors and hedge funds own 45.14% of the company's stock.

Insider Buying and Selling at Amcor

In related news, Director Stephen E. Sterrett bought 10,000 shares of the stock in a transaction on Tuesday, August 19th. The shares were bought at an average cost of $8.55 per share, for a total transaction of $85,500.00. Following the purchase, the director owned 10,000 shares of the company's stock, valued at $85,500. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AMCR shares. Royal Bank Of Canada started coverage on Amcor in a research report on Monday. They set a "sector perform" rating on the stock. The Goldman Sachs Group started coverage on Amcor in a research report on Wednesday, September 10th. They set a "buy" rating on the stock. Jefferies Financial Group started coverage on Amcor in a research report on Wednesday, July 2nd. They set a "buy" rating and a $12.00 target price on the stock. Truist Financial set a $11.00 target price on Amcor and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, UBS Group raised Amcor from a "neutral" rating to a "buy" rating in a research report on Thursday, June 26th. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Amcor has a consensus rating of "Moderate Buy" and a consensus target price of $11.21.

Amcor Trading Up 1.1%

NYSE:AMCR opened at $8.06 on Friday. The stock's 50 day moving average price is $8.82 and its 200 day moving average price is $9.16. The company has a market capitalization of $11.65 billion, a PE ratio of 22.39, a P/E/G ratio of 1.04 and a beta of 0.72. 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 $7.90 and a 52-week high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last released its quarterly 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 for the quarter, compared to analysts' expectations of $5.18 billion. Amcor had a return on equity of 19.43% and a net margin of 3.40%.The company's quarterly revenue was up 43.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 EPS. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. On average, research analysts anticipate that Amcor PLC will post 0.74 EPS for the current year.

Amcor Announces Dividend

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

Want to see what other hedge funds are holding AMCR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amcor PLC (NYSE:AMCR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.