Amcor PLC $AMCR Shares Purchased by Korea Investment CORP

Key Points

• Korea Investment CORP has increased its stake in Amcor PLC by 18.5% to a total of approximately $12.3 million, owning about 0.09% of the company.
• After a recent quarterly report, Amcor's earnings per share fell slightly short of expectations at $0.20, with revenues of $5.08 billion for the quarter.
• Amcor has announced a quarterly dividend of $0.1275 per share, reflecting a 5.9% dividend yield, with a payout ratio currently at 141.67%.

Korea Investment CORP raised its stake in Amcor PLC (NYSE:AMCR - Free Report) by 18.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,267,261 shares of the company's stock after buying an additional 197,586 shares during the quarter. Korea Investment CORP owned about 0.09% of Amcor worth $12,292,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Amcor by 15.5% during the 1st 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. Nuveen LLC acquired a new stake in shares of Amcor in the first quarter valued at $37,522,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Amcor by 8.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 49,831,643 shares of the company's stock valued at $483,367,000 after buying an additional 3,778,714 shares during the period. Point72 Asset Management L.P. acquired a new position in Amcor during the 4th quarter worth about $31,485,000. Finally, Invesco Ltd. boosted its holdings in Amcor by 9.5% during the 1st quarter. Invesco Ltd. now owns 33,314,287 shares of the company's stock valued at $323,149,000 after acquiring an additional 2,889,166 shares during the period. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Stock Down 0.8%

Shares of NYSE AMCR traded down $0.07 during mid-day trading on Tuesday, reaching $8.47. The company had a trading volume of 10,086,963 shares, compared to its average volume of 29,065,951. The firm has a 50 day simple moving average of $9.35 and a two-hundred day simple moving average of $9.46. Amcor PLC has a 52-week low of $8.37 and a 52-week high of $11.48. The company has a current ratio of 1.21, a quick ratio of 0.71 and a debt-to-equity ratio of 1.18. The stock has a market cap of $12.23 billion, a P/E ratio of 23.51, a PEG ratio of 1.14 and a beta of 0.74.

Amcor (NYSE:AMCR - Get Free Report) last released its quarterly earnings data 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 net margin of 3.40% and a return on equity of 19.43%. The company had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same quarter in the prior year, the company earned $0.21 EPS. The business'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. Sell-side analysts predict 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 will be paid on Thursday, September 25th. Stockholders of record on Friday, September 5th will be issued a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend is Friday, September 5th. Amcor's dividend payout ratio is presently 141.67%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AMCR shares. Truist Financial set a $11.00 price target on shares of Amcor and gave the stock a "buy" rating in a research report on Friday, July 11th. UBS Group upgraded shares of Amcor from a "neutral" rating to a "buy" rating in a research note on Thursday, June 26th. Jefferies Financial Group started coverage on shares of Amcor in a report on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 price objective on the stock. Robert W. Baird lowered their target price on shares of Amcor from $11.00 to $10.00 and set a "neutral" rating for the company in a research note on Friday, August 15th. Finally, Wells Fargo & Company raised 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. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.42.

Insider Activity

In other Amcor news, Director Stephen E. Sterrett bought 10,000 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $8.55 per share, with a total value of $85,500.00. Following the acquisition, the director directly owned 10,000 shares of the company's stock, valued at $85,500. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.60% of the company's stock.

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.