Pallas Capital Advisors LLC Purchases New Position in Amcor PLC $AMCR

Key Points

• Pallas Capital Advisors LLC has acquired a new position in Amcor PLC, purchasing 82,352 shares valued at approximately $757,000 in the second quarter.
• Amcor's recent quarterly earnings report showed a missed EPS estimate of $0.20, down from $0.21 in the previous year, with a revenue of $5.08 billion.
• The company announced a quarterly dividend of $0.1275 per share, translating to an annual yield of 6.2%, with a payout ratio of 141.67%.

Pallas Capital Advisors LLC purchased a new position in Amcor PLC (NYSE:AMCR - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 82,352 shares of the company's stock, valued at approximately $757,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMCR. Vanguard Group Inc. raised its holdings in shares of Amcor by 15.5% during the 1st quarter. Vanguard Group Inc. now owns 68,105,901 shares of the company's stock worth $660,627,000 after acquiring an additional 9,119,308 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Amcor by 8.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 49,831,643 shares of the company's stock valued at $483,367,000 after buying an additional 3,778,714 shares during the period. Invesco Ltd. raised its holdings in Amcor by 9.5% during the 1st quarter. Invesco Ltd. now owns 33,314,287 shares of the company's stock valued at $323,149,000 after buying an additional 2,889,166 shares during the period. Wellington Management Group LLP grew its position in Amcor by 9.8% in the 1st quarter. Wellington Management Group LLP now owns 30,707,205 shares of the company's stock valued at $297,860,000 after acquiring an additional 2,735,320 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Amcor by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 19,191,544 shares of the company's stock valued at $186,142,000 after acquiring an additional 490,827 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Stock Down 0.9%

Amcor stock traded down $0.08 during midday trading on Tuesday, reaching $8.18. The company's stock had a trading volume of 2,331,813 shares, compared to its average volume of 28,297,271. The stock's 50-day simple moving average is $8.94 and its 200-day simple moving average is $9.21. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.21 and a quick ratio of 0.71. Amcor PLC has a 52-week low of $8.16 and a 52-week high of $11.48. The stock has a market capitalization of $11.82 billion, a P/E ratio of 22.74, a PEG ratio of 1.06 and a beta of 0.72.

Amcor (NYSE:AMCR - Get Free Report) last released 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). 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 analysts' expectations of $5.18 billion. During the same quarter last year, the business posted $0.21 earnings per share. The company's quarterly revenue was up 43.8% compared to the same quarter last year. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. On average, sell-side analysts expect that Amcor PLC will post 0.74 EPS for the current year.

Amcor Dividend Announcement

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

Insider Activity

In other news, Director Stephen E. Sterrett bought 10,000 shares of the firm's stock in a transaction that occurred 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 acquisition, the director directly owned 10,000 shares of the company's stock, valued at $85,500. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AMCR shares. Wells Fargo & Company increased their price target on Amcor from $10.00 to $11.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. started coverage on Amcor in a research report on Friday. They set an "overweight" rating and a $10.00 price target on the stock. Royal Bank Of Canada started coverage on Amcor in a research report on Monday. They set a "sector perform" rating on the stock. Robert W. Baird dropped 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. Finally, Truist Financial set a $11.00 price target on Amcor and gave the stock a "buy" rating in a research report on Friday, July 11th. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $11.21.

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.