Northern Trust Corp Has $120.13 Million Stake in Amcor PLC $AMCR

Key Points

• Northern Trust Corp increased its stake in Amcor PLC by 0.4%, owning approximately 12.4 million shares valued at $120.13 million as of the latest SEC filing.
• Analysts have positive sentiments about Amcor, with multiple firms assigning buy ratings and target prices ranging from $10.00 to $12.00, indicating a consensus price target of $11.42.
• Amcor announced a quarterly dividend of $0.1275, with a yield of 5.9%, expected to be paid on September 25th to investors of record on September 5th.

Northern Trust Corp raised its stake in shares of Amcor PLC (NYSE:AMCR - Free Report) by 0.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 12,384,781 shares of the company's stock after purchasing an additional 49,655 shares during the period. Northern Trust Corp owned approximately 0.86% of Amcor worth $120,132,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AMCR. Rakuten Securities Inc. boosted its stake in Amcor by 18,725.0% during the 1st quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock valued at $29,000 after purchasing an additional 2,996 shares during the last quarter. HM Payson & Co. acquired a new position in Amcor during the 1st quarter valued at about $30,000. Brentview Investment Management LLC bought a new position in shares of Amcor during the 1st quarter worth approximately $31,000. CVA Family Office LLC lifted its position in shares of 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 in the last quarter. Finally, Quarry LP lifted its position in shares of Amcor by 2,064.5% during the 4th quarter. Quarry LP now owns 3,723 shares of the company's stock worth $35,000 after buying an additional 3,551 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company's stock.

Insiders Place Their Bets

In other Amcor news, Director Stephen E. Sterrett acquired 10,000 shares of Amcor stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average cost of $8.55 per share, for a total transaction of $85,500.00. Following the purchase, the director owned 10,000 shares of the company's stock, valued at approximately $85,500. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.60% of the company's stock.

Analysts Set New Price Targets

AMCR has been the topic of several recent analyst reports. UBS Group raised shares of Amcor from a "neutral" rating to a "buy" rating in a research report on Thursday, June 26th. Jefferies Financial Group initiated coverage on shares of Amcor in a research report on Wednesday, July 2nd. They set a "buy" rating and a $12.00 target price on the stock. Robert W. Baird dropped their target price on shares of Amcor from $11.00 to $10.00 and set a "neutral" rating on the stock in a research report on Friday, August 15th. Truist Financial set a $11.00 target price on shares of Amcor and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, Wells Fargo & Company lifted their target price on shares of Amcor from $10.00 to $11.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Amcor has an average rating of "Moderate Buy" and a consensus price target of $11.42.

Amcor Trading Up 0.8%

NYSE:AMCR opened at $8.7150 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.37 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $12.60 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 1.14 and a beta of 0.74. The firm's 50 day moving average is $9.36 and its 200 day moving average is $9.47. Amcor PLC has a 12 month low of $8.37 and a 12 month high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.21 by ($0.01). The company had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.18 billion. Amcor had a return on equity of 19.43% and a net margin of 3.40%.The company's revenue for the quarter was up 43.8% compared to the same quarter last year. During the same period last year, the firm posted $0.21 EPS. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. Sell-side analysts expect that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

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

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