Great Lakes Advisors LLC Purchases New Shares in Amcor PLC $AMCR

Key Points

• Great Lakes Advisors LLC has acquired 76,655 shares of Amcor PLC, valued at approximately $744,000, marking a significant institutional investment in the company.
• Amcor's stock is currently rated as a "Moderate Buy" by analysts, with eight analysts recommending buying and an average target price of $11.42.
• The company recently announced a quarterly dividend of $0.1275 per share, indicating a dividend yield of 6.1% despite having a high payout ratio of 141.67%.

Great Lakes Advisors LLC purchased a new position in Amcor PLC (NYSE:AMCR - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 76,655 shares of the company's stock, valued at approximately $744,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Amcor by 15.5% in the 1st quarter. Vanguard Group Inc. now owns 68,105,901 shares of the company's stock valued at $660,627,000 after acquiring an additional 9,119,308 shares during the period. Charles Schwab Investment Management Inc. raised its position in Amcor by 8.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 49,831,643 shares of the company's stock worth $483,367,000 after acquiring an additional 3,778,714 shares during the period. Invesco Ltd. lifted its holdings in Amcor by 9.5% during the first quarter. Invesco Ltd. now owns 33,314,287 shares of the company's stock valued at $323,149,000 after purchasing an additional 2,889,166 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Amcor by 9.8% in the first quarter. Wellington Management Group LLP now owns 30,707,205 shares of the company's stock valued at $297,860,000 after purchasing an additional 2,735,320 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Amcor by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 19,191,544 shares of the company's stock valued at $186,142,000 after purchasing an additional 490,827 shares during the period. 45.14% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Stephen E. Sterrett acquired 10,000 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were bought at an average cost of $8.55 per share, with a total value of $85,500.00. Following the transaction, the director owned 10,000 shares in the company, valued at approximately $85,500. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AMCR has been the subject of several research reports. UBS Group upgraded Amcor from a "neutral" rating to a "buy" rating in a research note on Thursday, June 26th. The Goldman Sachs Group assumed coverage on Amcor in a research note on Wednesday. They issued a "buy" rating on the stock. Jefferies Financial Group started coverage on Amcor in a research note on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 price objective for the company. Truist Financial set a $11.00 price objective on Amcor and gave the company a "buy" rating in a report on Friday, July 11th. Finally, Robert W. Baird lowered 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. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $11.42.

Amcor Stock Performance

NYSE AMCR opened at $8.34 on Friday. The stock has a market cap of $12.05 billion, a PE ratio of 23.17, a P/E/G ratio of 1.06 and a beta of 0.72. The company has a current ratio of 1.21, a quick ratio of 0.71 and a debt-to-equity ratio of 1.18. Amcor PLC has a twelve month low of $8.16 and a twelve month high of $11.48. The stock has a fifty day simple moving average of $9.14 and a 200-day simple moving average of $9.31.

Amcor (NYSE:AMCR - Get Free Report) last announced its 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). Amcor had a net margin of 3.40% and a return on equity of 19.43%. The firm had revenue of $5.08 billion during the quarter, compared to analysts' expectations of $5.18 billion. During the same period in the previous year, the firm earned $0.21 EPS. The firm'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. Equities analysts anticipate that Amcor PLC will post 0.74 earnings per share for the current 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 paid a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date is Friday, September 5th. Amcor's dividend payout ratio is presently 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.

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