McIlrath & Eck LLC Grows Position in Amcor PLC $AMCR

Key Points

• McIlrath & Eck LLC dramatically increased its holdings in Amcor PLC by 119,244.6%, owning 66,833 shares valued at approximately $648,000 after purchasing a significant number of shares in the first quarter.
• Amcor recently announced a quarterly dividend of $0.1275, with a dividend yield of 6.2%, despite having a dividend payout ratio of 141.67%.
• Stock analysts have varied expectations for Amcor, with an average price target of $11.42 and a consensus rating of "Moderate Buy" from multiple analysts following recent ratings changes.

McIlrath & Eck LLC grew its position in Amcor PLC (NYSE:AMCR - Free Report) by 119,244.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,833 shares of the company's stock after purchasing an additional 66,777 shares during the period. McIlrath & Eck LLC's holdings in Amcor were worth $648,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CX Institutional bought a new position in shares of Amcor in the 1st quarter valued at about $111,000. SG Americas Securities LLC increased its position 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 purchasing an additional 95,314 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new position in Amcor in the 1st quarter valued at approximately $121,000. Wealth Enhancement Advisory Services LLC increased its position in Amcor by 16.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,256,497 shares of the company's stock valued at $12,188,000 after acquiring an additional 175,731 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of Amcor by 5.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 82,025 shares of the company's stock valued at $796,000 after purchasing an additional 4,591 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Trading Down 0.7%

AMCR traded down $0.06 during trading on Friday, reaching $8.27. The company had a trading volume of 12,939,915 shares, compared to its average volume of 20,812,420. Amcor PLC has a 52 week low of $8.16 and a 52 week high of $11.48. The stock has a market cap of $11.95 billion, a P/E ratio of 22.97, a PEG ratio of 1.07 and a beta of 0.72. The business has a 50 day simple moving average of $9.11 and a 200-day simple moving average of $9.28. 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 (NYSE:AMCR - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.01). The firm had revenue of $5.08 billion for the quarter, compared to analysts' expectations of $5.18 billion. Amcor had a net margin of 3.40% and a return on equity of 19.43%. The business's quarterly revenue was up 43.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.21 EPS. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. On average, equities analysts anticipate that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

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 issued a dividend of $0.1275 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.2%. Amcor's payout ratio is 141.67%.

Insider Activity at Amcor

In other news, Director Stephen E. Sterrett bought 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average price of $8.55 per share, with a total value of $85,500.00. Following the completion of the acquisition, the director directly owned 10,000 shares of the company's stock, valued at $85,500. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Jefferies Financial Group initiated coverage on shares of Amcor in a research note on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 price objective on the stock. Truist Financial set a $11.00 price objective on shares of Amcor and gave the company a "buy" rating in a research note on Friday, July 11th. Robert W. Baird lowered their price objective on shares of Amcor from $11.00 to $10.00 and set a "neutral" rating for the company in a report on Friday, August 15th. The Goldman Sachs Group initiated coverage on shares of Amcor in a research report on Wednesday. They set a "buy" rating on the stock. Finally, Wells Fargo & Company upped their price target on shares of Amcor from $10.00 to $11.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $11.42.

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.