Amcor PLC $AMCR Stock Holdings Raised by Dark Forest Capital Management LP

Key Points

• Dark Forest Capital Management LP significantly increased its stake in Amcor PLC by 962.2%, owning over 1.3 million shares after acquiring 1.2 million additional shares in the first quarter.
• Amcor recently revealed a quarterly dividend of $0.1275 per share, which equates to an annual yield of 5.9%, despite having a high dividend payout ratio of 141.67%.
• Analysts have given Amcor a consensus rating of "Moderate Buy" with a target price of $11.42, with multiple firms adjusting their ratings and target prices in recent reports.

Dark Forest Capital Management LP boosted its stake in Amcor PLC (NYSE:AMCR - Free Report) by 962.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,369,104 shares of the company's stock after purchasing an additional 1,240,210 shares during the period. Amcor makes up approximately 0.6% of Dark Forest Capital Management LP's holdings, making the stock its 4th largest position. Dark Forest Capital Management LP owned about 0.09% of Amcor worth $13,280,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. PDT Partners LLC bought a new stake in Amcor in the 1st quarter worth approximately $4,736,000. Troluce Capital Advisors LLC grew its position in Amcor by 214.4% in the 1st quarter. Troluce Capital Advisors LLC now owns 2,098,820 shares of the company's stock worth $20,359,000 after purchasing an additional 1,431,197 shares during the period. Quarry LP grew its position in Amcor by 164.5% in the 1st quarter. Quarry LP now owns 9,847 shares of the company's stock worth $96,000 after purchasing an additional 6,124 shares during the period. DRW Securities LLC bought a new stake in shares of Amcor during the 1st quarter valued at $130,000. Finally, Vident Advisory LLC increased its stake in shares of Amcor by 38.0% in the 1st quarter. Vident Advisory LLC now owns 202,473 shares of the company's stock worth $1,964,000 after purchasing an additional 55,714 shares in the last quarter. Institutional investors own 45.14% of the company's stock.

Amcor Price Performance

Shares of NYSE AMCR traded down $0.07 during mid-day trading on Friday, reaching $8.29. The company's stock had a trading volume of 20,276,021 shares, compared to its average volume of 27,031,174. The firm has a market capitalization of $11.97 billion, a PE ratio of 23.01, a P/E/G ratio of 1.07 and a beta of 0.72. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.21 and a quick ratio of 0.71. The stock has a fifty day moving average of $9.23 and a two-hundred day moving average of $9.35. Amcor PLC has a 52 week low of $8.23 and a 52 week high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported $0.20 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 analysts' expectations of $5.18 billion. Amcor had a return on equity of 19.43% and a net margin of 3.40%.Amcor's quarterly revenue was up 43.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 earnings per share. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. As a group, sell-side analysts anticipate that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Friday, September 5th will be given a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date is Friday, September 5th. Amcor's payout ratio is currently 141.67%.

Analysts Set New Price Targets

Several research firms recently weighed in on AMCR. Wells Fargo & Company lifted their target price on Amcor from $10.00 to $11.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Robert W. Baird cut their price target on Amcor from $11.00 to $10.00 and set a "neutral" rating for the company in a report on Friday, August 15th. Truist Financial set a $11.00 price target on Amcor and gave the company a "buy" rating in a report on Friday, July 11th. Jefferies Financial Group began coverage on Amcor in a report on Wednesday, July 2nd. They set a "buy" rating and a $12.00 price target for the company. Finally, UBS Group raised Amcor from a "neutral" rating to a "buy" rating in a report on Thursday, June 26th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $11.42.

Insider Activity at Amcor

In other news, Director Stephen E. Sterrett bought 10,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director owned 10,000 shares of the company's stock, valued at approximately $85,500. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.60% of the company's stock.

Amcor 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.