National Pension Service Sells 2,160,765 Shares of Amcor PLC $AMCR

Key Points

• The National Pension Service reduced its stake in Amcor PLC by 82.8% in the first quarter, selling 2,160,765 shares and holding only 448,648 shares worth $4.35 million afterward.
• Amcor reported $0.20 earnings per share for its latest quarter, missing the consensus estimate of $0.21, while revenue was $5.08 billion, also falling short of expectations.
• The company declared a quarterly dividend of $0.1275, which translates to an annualized dividend of $0.51 and a yield of 5.8%, despite having a high dividend payout ratio of 141.67%.

National Pension Service lessened its holdings in Amcor PLC (NYSE:AMCR - Free Report) by 82.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 448,648 shares of the company's stock after selling 2,160,765 shares during the period. National Pension Service's holdings in Amcor were worth $4,352,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AMCR. Rakuten Securities Inc. raised its position in Amcor by 18,725.0% in the first quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock worth $29,000 after acquiring an additional 2,996 shares during the period. HM Payson & Co. bought a new position in Amcor in the 1st quarter worth $30,000. Brentview Investment Management LLC bought a new position in Amcor in the 1st quarter worth $31,000. CVA Family Office LLC raised its holdings in Amcor by 234.1% in the 1st quarter. CVA Family Office LLC now owns 3,254 shares of the company's stock worth $32,000 after purchasing an additional 2,280 shares during the period. Finally, Quarry LP raised its holdings in Amcor by 2,064.5% in the 4th quarter. Quarry LP now owns 3,723 shares of the company's stock worth $35,000 after purchasing an additional 3,551 shares during the period. Institutional investors own 45.14% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AMCR. Jefferies Financial Group started coverage on 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 target price on Amcor and gave the company a "buy" rating in a research note on Friday, July 11th. Robert W. Baird decreased their target price on Amcor from $11.00 to $10.00 and set a "neutral" rating on the stock in a research note on Friday, August 15th. Wells Fargo & Company lifted their price objective on shares of Amcor from $10.00 to $11.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Finally, UBS Group upgraded shares of Amcor from a "neutral" rating to a "buy" rating in a research report on Thursday, June 26th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $11.42.

Amcor Price Performance

NYSE:AMCR traded up $0.0750 during trading hours on Thursday, reaching $8.6450. The stock had a trading volume of 16,832,991 shares, compared to its average volume of 29,219,797. The company has a 50 day moving average price of $9.38 and a two-hundred day moving average price of $9.49. Amcor PLC has a 52 week low of $8.37 and a 52 week high of $11.48. The stock has a market capitalization of $12.49 billion, a PE ratio of 23.99, a PEG ratio of 1.11 and a beta of 0.74. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.37 and a current ratio of 1.21.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported $0.20 earnings per share 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 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 EPS. The company's revenue for the quarter was up 43.8% on a year-over-year basis. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. As a group, sell-side analysts anticipate that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Friday, September 5th will be given a dividend of $0.1275 per share. The ex-dividend date is Friday, September 5th. This represents a $0.51 dividend on an annualized basis and a yield of 5.9%. Amcor's payout ratio is 141.67%.

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.