Eminence Capital LP Has $34.15 Million Position in Amcor PLC $AMCR

Key Points

• Eminence Capital LP has increased its stake in Amcor PLC by 22.4%, now owning approximately 3.52 million shares worth around $34.15 million as per its latest SEC filing.
• Amcor recently missed earnings estimates with a reported $0.20 earnings per share, falling short of the expected $0.21, while quarterly revenue increased by 43.8% year-over-year, totaling $5.08 billion.
• The company declared a quarterly dividend of $0.1275 per share, which equates to an annualized yield of 6.1%, despite a high payout ratio of 141.67%.

Eminence Capital LP increased its stake in shares of Amcor PLC (NYSE:AMCR - Free Report) by 22.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,520,144 shares of the company's stock after purchasing an additional 643,964 shares during the period. Eminence Capital LP owned approximately 0.24% of Amcor worth $34,145,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMCR. Rakuten Securities Inc. boosted its position in shares of Amcor by 18,725.0% during the first quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock worth $29,000 after acquiring an additional 2,996 shares during the last quarter. HM Payson & Co. bought a new stake in shares of Amcor in the 1st quarter valued at about $30,000. Brentview Investment Management LLC acquired a new stake in Amcor in the 1st quarter worth approximately $31,000. CVA Family Office LLC lifted its stake in Amcor by 234.1% during the 1st quarter. CVA Family Office LLC now owns 3,254 shares of the company's stock valued at $32,000 after acquiring an additional 2,280 shares during the period. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Amcor during the 1st quarter valued at approximately $36,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Amcor Price Performance

Amcor stock traded down $0.03 during trading hours on Tuesday, hitting $8.20. 8,979,702 shares of the company traded hands, compared to its average volume of 28,630,213. The firm's 50-day simple moving average is $9.21 and its two-hundred day simple moving average is $9.34. The firm has a market cap of $11.84 billion, a P/E ratio of 22.76, a P/E/G ratio of 1.07 and a beta of 0.72. Amcor PLC has a 1-year low of $8.16 and a 1-year high of $11.48. 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 (NYSE:AMCR - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.01). Amcor had a net margin of 3.40% and a return on equity of 19.43%. The company had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same quarter last year, the business earned $0.21 EPS. The company's revenue for the quarter was up 43.8% compared to the same quarter last year. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. As a group, analysts forecast that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.1275 per share. The ex-dividend date is Friday, September 5th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.2%. Amcor's payout ratio is 141.67%.

Insider Activity at Amcor

In related news, Director Stephen E. Sterrett purchased 10,000 shares of the stock in a transaction on Tuesday, August 19th. The shares were purchased 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 directly owned 10,000 shares of the company's stock, valued at approximately $85,500. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is currently owned by company insiders.

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.