Gabelli Funds LLC Acquires 104,247 Shares of Amcor PLC $AMCR

Key Points

• Gabelli Funds LLC increased its Amcor stake by 128.1% in the fourth quarter, buying 104,247 additional shares to bring its total holdings to 185,656 shares worth about $1.55 million.
• Amcor reported quarterly earnings of $0.96 per share, matching estimates, while revenue of $5.91 billion came in above expectations. The company also posted year-over-year revenue growth of 77.4%.
• The company declared a quarterly dividend of $0.65 per share, equal to an annualized yield of about 6.8%. Analyst sentiment remains constructive overall, with a Moderate Buy consensus and average target price of $49.33.

Gabelli Funds LLC raised its holdings in shares of Amcor PLC (NYSE:AMCR - Free Report) by 128.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 185,656 shares of the company's stock after purchasing an additional 104,247 shares during the period. Gabelli Funds LLC's holdings in Amcor were worth $1,548,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in AMCR. Brown Lisle Cummings Inc. grew its holdings in shares of Amcor by 137.9% during the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company's stock valued at $29,000 after buying an additional 2,000 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new stake in shares of Amcor during the second quarter valued at approximately $36,000. N.E.W. Advisory Services LLC grew its holdings in shares of Amcor by 10.1% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company's stock valued at $34,000 after buying an additional 373 shares during the last quarter. Huntington National Bank grew its holdings in shares of Amcor by 81.8% during the third quarter. Huntington National Bank now owns 4,490 shares of the company's stock valued at $37,000 after buying an additional 2,020 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in Amcor by 1,915.0% in the second quarter. Geneos Wealth Management Inc. now owns 4,554 shares of the company's stock worth $42,000 after purchasing an additional 4,328 shares during the last quarter. Institutional investors own 45.14% of the company's stock.

Amcor Trading Down 0.2%

Shares of Amcor stock opened at $38.43 on Friday. The company's fifty day simple moving average is $39.59 and its 200-day simple moving average is $42.32. The stock has a market capitalization of $17.77 billion, a PE ratio of 26.87, a P/E/G ratio of 1.16 and a beta of 0.63. Amcor PLC has a 1-year low of $36.25 and a 1-year high of $50.94. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting the consensus estimate of $0.96. The business had revenue of $5.91 billion for the quarter, compared to analysts' expectations of $5.71 billion. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The company's revenue was up 77.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.90 EPS. As a group, equities analysts anticipate that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date is Thursday, May 28th. Amcor's payout ratio is currently 181.82%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Amcor in a report on Wednesday, April 1st. They issued a "buy" rating and a $50.00 target price on the stock. Citigroup dropped their target price on shares of Amcor from $54.00 to $47.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Weiss Ratings upgraded shares of Amcor from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 11th. Morgan Stanley cut shares of Amcor from an "overweight" rating to an "equal weight" rating and set a $46.00 target price on the stock. in a report on Wednesday, January 28th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Amcor from $50.00 to $44.00 and set an "overweight" rating on the stock in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Amcor presently has an average rating of "Moderate Buy" and an average target price of $49.33.

Key Headlines Impacting Amcor

Here are the key news stories impacting Amcor this week:

• Positive Sentiment: Amcor announced a global startup challenge, “Lift-Off -- Rigids,” which could support longer-term innovation and new packaging solutions. Amcor launches global call for startups for Amcor Lift-Off -- Rigids challenge
• Neutral Sentiment: Analysts still expect Amcor to earn $3.97 per share for the current full year, so the company remains close to consensus despite the revisions.
• Negative Sentiment: Zacks Research lowered FY2026, Q1 2027, Q2 2027, Q3 2027, Q4 2027, Q1 2028, Q2 2028, Q3 2028, FY2027, and FY2028 EPS estimates, signaling modestly weaker earnings expectations ahead. Amcor Seeks Startups for Lift-Off Rigids Challenge

About Amcor

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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