Moran Wealth Management LLC Sells 652,010 Shares of Amcor PLC $AMCR

Key Points

• Moran Wealth Management LLC reduced its holdings in Amcor PLC by 36.5%, selling 652,010 shares during the second quarter, leaving it with 1,134,746 shares valued at approximately $10.4 million.
• Amcor recently announced a quarterly dividend of $0.1275 per share, demonstrating a 6.4% yield, though its payout ratio is notably high at 141.67%.
• Despite a strong revenue increase of 43.8% year-over-year, Amcor reported earnings per share of $0.20, missing expectations by $0.01, leading analysts to revise price targets with a consensus "Moderate Buy" rating.

Moran Wealth Management LLC lessened its holdings in Amcor PLC (NYSE:AMCR - Free Report) by 36.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,134,746 shares of the company's stock after selling 652,010 shares during the quarter. Moran Wealth Management LLC owned 0.08% of Amcor worth $10,428,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. CX Institutional bought a new stake in shares of Amcor in the first quarter valued at about $111,000. SG Americas Securities LLC boosted its position in shares of Amcor by 174.3% in the first quarter. SG Americas Securities LLC now owns 149,983 shares of the company's stock valued at $1,455,000 after acquiring an additional 95,314 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Amcor by 51.6% in the second quarter. State of Alaska Department of Revenue now owns 464,293 shares of the company's stock valued at $4,266,000 after acquiring an additional 158,082 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Amcor by 71.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,446,429 shares of the company's stock worth $22,483,000 after purchasing an additional 1,019,306 shares during the period. Finally, Sound Income Strategies LLC lifted its position in Amcor by 54,855.7% during the second quarter. Sound Income Strategies LLC now owns 605,062 shares of the company's stock worth $5,561,000 after purchasing an additional 603,961 shares during the period. Institutional investors own 45.14% of the company's stock.

Insider Buying and Selling

In other Amcor news, Director Stephen E. Sterrett bought 10,000 shares of the stock in a transaction 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 purchase, the director owned 10,000 shares in the company, valued at $85,500. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.32% of the company's stock.

Amcor Stock Up 0.8%

Shares of NYSE AMCR opened at $8.00 on Tuesday. 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 company has a market cap of $18.43 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 1.13 and a beta of 0.73. Amcor PLC has a 12 month low of $7.81 and a 12 month high of $11.46. The stock has a 50-day moving average price of $8.49 and a two-hundred day moving average price of $9.03.

Amcor (NYSE:AMCR - Get Free Report) last issued its 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 business had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.18 billion. Amcor had a return on equity of 19.43% and a net margin of 3.40%.The firm's revenue was up 43.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 EPS. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. As a group, analysts forecast that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Friday, September 5th were paid a dividend of $0.1275 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.51 annualized dividend and a yield of 6.4%. Amcor's payout ratio is presently 141.67%.

Analysts Set New Price Targets

Several research firms recently weighed in on AMCR. Jefferies Financial Group began coverage on shares of Amcor in a research report on Wednesday, July 2nd. They set a "buy" rating and a $12.00 price objective for the company. The Goldman Sachs Group began coverage on shares of Amcor in a research report on Wednesday, September 10th. They set a "buy" rating for the company. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Amcor in a research report on Wednesday, October 8th. Truist Financial set a $11.00 price objective on shares of Amcor and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, UBS Group raised shares of Amcor from a "neutral" rating to a "buy" rating in a research report on Thursday, June 26th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Amcor has a consensus rating of "Moderate Buy" and an average target price of $11.09.

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.

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