Jacobs Levy Equity Management Inc. Makes New Investment in Amcor PLC $AMCR

Key Points

• Jacobs Levy Equity Management Inc. acquired 2,460,841 shares of Amcor PLC, valued at approximately $23.87 million, increasing its ownership to 0.17% of the company.
• Amcor's stock saw a recent price downgrade from Robert W. Baird, lowering its target from $11.00 to $10.00, but Wells Fargo raised its price objective to $11.00, overall indicating a "Moderate Buy" consensus among analysts.
• Amcor declared a quarterly dividend of $0.1275 per share, equating to a 6.2% yield, with the ex-dividend date set for September 5th.

Jacobs Levy Equity Management Inc. bought a new position in shares of Amcor PLC (NYSE:AMCR - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 2,460,841 shares of the company's stock, valued at approximately $23,870,000. Jacobs Levy Equity Management Inc. owned 0.17% of Amcor as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in AMCR. Vanguard Group Inc. boosted its position in Amcor by 15.5% during the first quarter. Vanguard Group Inc. now owns 68,105,901 shares of the company's stock worth $660,627,000 after purchasing an additional 9,119,308 shares during the period. Charles Schwab Investment Management Inc. boosted 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 purchasing an additional 3,778,714 shares during the period. Invesco Ltd. boosted its position in Amcor by 9.5% during the first quarter. Invesco Ltd. now owns 33,314,287 shares of the company's stock worth $323,149,000 after purchasing an additional 2,889,166 shares during the period. Wellington Management Group LLP boosted its position in Amcor by 9.8% during the first quarter. Wellington Management Group LLP now owns 30,707,205 shares of the company's stock worth $297,860,000 after purchasing an additional 2,735,320 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Amcor by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 19,191,544 shares of the company's stock worth $186,142,000 after purchasing an additional 490,827 shares during the period. 45.14% of the stock is owned by institutional investors.

Amcor Trading Up 1.0%

AMCR traded up $0.09 during trading on Thursday, hitting $8.32. The company's stock had a trading volume of 6,946,593 shares, compared to its average volume of 28,491,332. Amcor PLC has a twelve month low of $8.16 and a twelve month 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. The stock's fifty day moving average price is $9.16 and its 200-day moving average price is $9.32. The firm has a market capitalization of $12.02 billion, a P/E ratio of 23.10, a PEG ratio of 1.06 and a beta of 0.72.

Amcor (NYSE:AMCR - Get Free Report) last issued its 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 return on equity of 19.43% and a net margin of 3.40%.The firm had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.18 billion. During the same period in the previous year, the company earned $0.21 earnings per share. Amcor'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. Analysts anticipate that Amcor PLC will post 0.74 EPS for the current year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Friday, September 5th will be paid a $0.1275 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.51 annualized dividend and a yield of 6.1%. Amcor's dividend payout ratio (DPR) is currently 141.67%.

Analyst Upgrades and Downgrades

AMCR has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on Amcor in a report on Wednesday, July 2nd. They set a "buy" rating and a $12.00 target price for the company. Robert W. Baird dropped their price target on Amcor from $11.00 to $10.00 and set a "neutral" rating for the company in a research note on Friday, August 15th. UBS Group raised Amcor from a "neutral" rating to a "buy" rating in a research note on Thursday, June 26th. Wells Fargo & Company boosted their price target on Amcor from $10.00 to $11.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Finally, The Goldman Sachs Group initiated coverage on Amcor in a research note on Wednesday. They issued a "buy" rating for the company. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $11.42.

Insider Buying and Selling

In other Amcor news, Director Stephen E. Sterrett acquired 10,000 shares of the business's stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $8.55 per share, with a total value of $85,500.00. Following the purchase, the director owned 10,000 shares of the company's stock, valued at approximately $85,500. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.60% of the stock is currently owned by corporate 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.