OLD Mission Capital LLC Sells 758,102 Shares of Amcor PLC $AMCR

Key Points

• OLD Mission Capital LLC has reduced its stake in Amcor PLC by 86.5%, selling 758,102 shares and holding 118,112 shares valued at approximately $1.15 million at the end of the first quarter.
• Amcor reported Q2 earnings of $0.20 per share, which was below analysts' expectations, and revenue of $5.08 billion, missing estimates of $5.18 billion.
• The company declared a quarterly dividend of $0.1275 per share, set to be paid on September 25th, with an annualized rate of $0.51 and a yield of 5.9%, although the dividend payout ratio is at 141.67%.

OLD Mission Capital LLC reduced its stake in Amcor PLC (NYSE:AMCR - Free Report) by 86.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 118,112 shares of the company's stock after selling 758,102 shares during the quarter. OLD Mission Capital LLC's holdings in Amcor were worth $1,146,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Rakuten Securities Inc. boosted its position in shares of Amcor by 18,725.0% in the first quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock valued at $29,000 after acquiring an additional 2,996 shares during the period. HM Payson & Co. bought a new stake in shares of Amcor in the first quarter valued at about $30,000. Brentview Investment Management LLC bought a new stake in shares of Amcor in the first quarter valued at about $31,000. CVA Family Office LLC boosted its position in shares of Amcor by 234.1% in the first quarter. CVA Family Office LLC now owns 3,254 shares of the company's stock valued at $32,000 after acquiring an additional 2,280 shares during the period. Finally, Quarry LP boosted its position in shares of Amcor by 2,064.5% in the fourth quarter. Quarry LP now owns 3,723 shares of the company's stock valued at $35,000 after acquiring an additional 3,551 shares during the period. Institutional investors own 45.14% of the company's stock.

Insider Transactions at Amcor

In other Amcor news, Director Stephen E. Sterrett bought 10,000 shares of the firm's stock in a transaction on Tuesday, August 19th. The shares were purchased at an average price of $8.55 per share, for a total transaction of $85,500.00. Following the completion of the transaction, the director directly owned 10,000 shares in the company, valued at approximately $85,500. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AMCR. Robert W. Baird reduced their price target on Amcor from $11.00 to $10.00 and set a "neutral" rating on the stock in a research report on Friday, August 15th. Jefferies Financial Group began coverage on Amcor in a research note on Wednesday, July 2nd. They set a "buy" rating and a $12.00 price objective on the stock. Wells Fargo & Company raised their price objective on Amcor from $10.00 to $11.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. UBS Group upgraded Amcor from a "neutral" rating to a "buy" rating in a research note on Thursday, June 26th. Finally, Truist Financial set a $11.00 price objective on shares of Amcor and gave the stock a "buy" rating in a research note on Friday, July 11th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.42.

Amcor Price Performance

Shares of Amcor stock traded down $0.07 on Friday, reaching $8.29. 20,276,021 shares of the stock were exchanged, compared to its average volume of 26,789,234. Amcor PLC has a one year low of $8.23 and a one year high of $11.48. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.71 and a current ratio of 1.21. The firm's 50 day moving average is $9.23 and its 200-day moving average is $9.36. The firm has a market cap of $11.97 billion, a PE ratio of 23.01, a P/E/G ratio of 1.08 and a beta of 0.72.

Amcor (NYSE:AMCR - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.01). Amcor had a net margin of 3.40% and a return on equity of 19.43%. 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 earned $0.21 EPS. The business's revenue 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, analysts anticipate that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Friday, September 5th will be given a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date is Friday, September 5th. Amcor's payout ratio is currently 141.67%.

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.