HB Wealth Management LLC Acquires 97,903 Shares of Amcor PLC $AMCR

Key Points

• HB Wealth Management LLC increased its holdings in Amcor PLC by 112.3%, acquiring an additional 97,903 shares, bringing its total to 185,115 shares valued at approximately $1.7 million.
• Amcor's recent earnings report showed a missed EPS estimate of $0.20, below the expected $0.21, along with quarterly revenue of $5.08 billion against expectations of $5.18 billion.
• Amcor declared a quarterly dividend of $0.1275, with a yield of 6.2%, although the company's payout ratio is quite high at 141.67%.

HB Wealth Management LLC boosted its holdings in Amcor PLC (NYSE:AMCR - Free Report) by 112.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 185,115 shares of the company's stock after acquiring an additional 97,903 shares during the quarter. HB Wealth Management LLC's holdings in Amcor were worth $1,701,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Rakuten Securities Inc. lifted its position in Amcor by 18,725.0% in the 1st quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock valued at $29,000 after acquiring an additional 2,996 shares in the last quarter. AdvisorNet Financial Inc boosted its holdings in Amcor by 839.8% during the second quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company's stock worth $28,000 after purchasing an additional 2,704 shares during the last quarter. HM Payson & Co. purchased a new position in Amcor during the first quarter worth about $30,000. Brentview Investment Management LLC purchased a new position in Amcor during the first quarter worth about $31,000. Finally, Adirondack Trust Co. purchased a new position in Amcor during the second quarter worth about $29,000. Institutional investors own 45.14% of the company's stock.

Insider Activity

In other Amcor news, Director Stephen E. Sterrett purchased 10,000 shares of the stock in a transaction dated Tuesday, August 19th. The shares were bought at an average price of $8.55 per share, with a total value of $85,500.00. Following the completion of the transaction, the director directly owned 10,000 shares in the company, valued at approximately $85,500. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is currently owned by company insiders.

Amcor Trading Up 0.4%

Shares of AMCR stock opened at $8.23 on Friday. The company has a 50 day moving average of $8.70 and a 200-day moving average of $9.12. 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 12-month low of $7.90 and a 12-month high of $11.46. The firm has a market cap of $11.89 billion, a P/E ratio of 22.85, a PEG ratio of 1.07 and a beta of 0.73.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). Amcor had a return on equity of 19.43% and a net margin of 3.40%.The company had revenue of $5.08 billion for the quarter, compared to analysts' expectations of $5.18 billion. During the same quarter in the previous year, the business earned $0.21 EPS. The company's revenue for the quarter was up 43.8% on a year-over-year basis. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. Sell-side analysts anticipate that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Friday, September 5th were given a $0.1275 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.51 annualized dividend and a dividend yield of 6.2%. Amcor's payout ratio is 141.67%.

Wall Street Analysts Forecast Growth

AMCR has been the topic of several analyst reports. Robert W. Baird cut their price target on shares of Amcor from $11.00 to $10.00 and set a "neutral" rating on the stock in a report on Friday, August 15th. Truist Financial set a $11.00 price target on shares of Amcor and gave the stock a "buy" rating in a report on Friday, July 11th. JPMorgan Chase & Co. initiated coverage on shares of Amcor in a report on Friday, September 19th. They set an "overweight" rating and a $10.00 price target on the stock. Jefferies Financial Group initiated coverage on shares of Amcor in a report on Wednesday, July 2nd. They set a "buy" rating and a $12.00 price target on the stock. Finally, Royal Bank Of Canada assumed coverage on shares of Amcor in a report on Monday, September 22nd. They set a "sector perform" rating on the stock. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Amcor has a consensus rating of "Moderate Buy" and a consensus target price of $11.21.

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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