Amcor PLC $AMCR Shares Purchased by Meiji Yasuda Asset Management Co Ltd.

Key Points

• Meiji Yasuda Asset Management Co Ltd. significantly increased its ownership in Amcor PLC by acquiring 1,423,653 shares, raising its stake by 3,001.7% during the first quarter.
• Several other institutional investors, including Vanguard Group and Charles Schwab Investment Management, also boosted their stakes in Amcor, contributing to institutional ownership of 45.14% of the stock.
• Amcor recently announced a quarterly dividend of $0.1275 per share, resulting in an annualized dividend yield of 6.2%.

Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Amcor PLC (NYSE:AMCR - Free Report) by 3,001.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,471,082 shares of the company's stock after buying an additional 1,423,653 shares during the quarter. Meiji Yasuda Asset Management Co Ltd. owned 0.10% of Amcor worth $14,269,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Rakuten Securities Inc. raised its position in Amcor by 18,725.0% during the 1st quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock worth $29,000 after buying an additional 2,996 shares during the last quarter. HM Payson & Co. purchased a new position in Amcor during the 1st quarter worth approximately $30,000. Brentview Investment Management LLC purchased a new position in Amcor during the 1st quarter worth approximately $31,000. CVA Family Office LLC raised its position in Amcor by 234.1% during the 1st quarter. CVA Family Office LLC now owns 3,254 shares of the company's stock worth $32,000 after buying an additional 2,280 shares during the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new position in Amcor during the 1st quarter worth approximately $36,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Price Performance

AMCR traded down $0.06 on Friday, hitting $8.27. 12,939,915 shares of the company's stock were exchanged, compared to its average volume of 23,443,192. Amcor PLC has a fifty-two week low of $8.16 and a fifty-two 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 firm has a 50-day moving average price of $9.11 and a 200-day moving average price of $9.30. The stock has a market cap of $11.95 billion, a price-to-earnings ratio of 22.97, a P/E/G ratio of 1.07 and a beta of 0.72.

Amcor (NYSE:AMCR - Get Free Report) last announced its 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 business had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.18 billion. During the same period last year, the firm earned $0.21 EPS. The company'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. As a group, equities analysts anticipate that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. UBS Group raised shares of Amcor from a "neutral" rating to a "buy" rating in a research report on Thursday, June 26th. The Goldman Sachs Group assumed coverage on shares of Amcor in a report on Wednesday. They set a "buy" rating for the company. Robert W. Baird cut their target price 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. Jefferies Financial Group assumed coverage on shares of Amcor in a report on Wednesday, July 2nd. They set a "buy" rating and a $12.00 target price for the company. Finally, Truist Financial set a $11.00 target price on shares of Amcor and gave the company a "buy" rating in a report on Friday, July 11th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $11.42.

Insider Buying and Selling at Amcor

In other news, Director Stephen E. Sterrett purchased 10,000 shares of the stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average price of $8.55 per share, with a total value of $85,500.00. Following the transaction, the director owned 10,000 shares in the company, valued at $85,500. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.60% of the company's stock.

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.