KLP Kapitalforvaltning AS Has $7.62 Million Position in Amcor PLC $AMCR

Key Points

• KLP Kapitalforvaltning AS increased its position in Amcor PLC by 56.4% during Q2, now holding 829,592 shares valued at $7.62 million.
• Various hedge funds, including SG Americas Securities LLC and Mirae Asset Global Investments, have significantly boosted their holdings in Amcor, indicating growing institutional interest.
• Amcor recently announced a quarterly dividend of $0.1275 per share, yielding about 6.5%, while its payout ratio stands at 141.67%.

KLP Kapitalforvaltning AS grew its position in shares of Amcor PLC (NYSE:AMCR - Free Report) by 56.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 829,592 shares of the company's stock after acquiring an additional 299,200 shares during the quarter. KLP Kapitalforvaltning AS owned 0.06% of Amcor worth $7,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. CX Institutional purchased a new position in Amcor during the 1st quarter worth $111,000. SG Americas Securities LLC boosted its holdings in Amcor by 174.3% during the 1st quarter. SG Americas Securities LLC now owns 149,983 shares of the company's stock worth $1,455,000 after acquiring an additional 95,314 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in Amcor by 51.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 464,293 shares of the company's stock worth $4,266,000 after acquiring an additional 158,082 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Amcor by 71.4% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,446,429 shares of the company's stock worth $22,483,000 after acquiring an additional 1,019,306 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its holdings in Amcor by 54,855.7% during the 2nd quarter. Sound Income Strategies LLC now owns 605,062 shares of the company's stock worth $5,561,000 after acquiring an additional 603,961 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Amcor

In other news, Director Stephen E. Sterrett acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average cost of $8.55 per share, for a total transaction of $85,500.00. Following the purchase, the director owned 10,000 shares of the company's stock, valued at approximately $85,500. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.32% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AMCR shares. Royal Bank Of Canada started coverage on shares of Amcor in a report on Monday, September 22nd. They set a "sector perform" rating on the stock. Robert W. Baird cut their price objective 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. The Goldman Sachs Group initiated coverage on shares of Amcor in a report on Wednesday, September 10th. They issued a "buy" rating on the stock. Weiss Ratings reissued a "hold (c-)" rating on shares of Amcor in a report on Wednesday. Finally, Wells Fargo & Company boosted their price target on shares of Amcor from $10.00 to $11.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.21.

Amcor Price Performance

Shares of NYSE:AMCR opened at $7.82 on Friday. The company's 50-day moving average is $8.54 and its 200 day moving average is $9.06. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.71 and a current ratio of 1.21. The company has a market capitalization of $18.03 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 1.04 and a beta of 0.73. Amcor PLC has a fifty-two week low of $7.81 and a fifty-two week high of $11.46.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings data 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 the consensus estimate of $5.18 billion. During the same quarter in the prior year, the firm posted $0.21 earnings per share. The company's revenue was up 43.8% on a year-over-year basis. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. On average, equities research analysts forecast that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Friday, September 5th were paid a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date was Friday, September 5th. Amcor's payout ratio is currently 141.67%.

About Amcor

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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