Perbak Capital Partners LLP Purchases Shares of 128,612 Amcor PLC $AMCR

Key Points

• Perbak Capital Partners LLP invested approximately $1.25 million in Amcor PLC, acquiring 128,612 shares during the first quarter, making Amcor the fund's 13th largest holding.
• Amcor's stock opened at $8.65 and has a market cap of $12.50 billion, with a price-to-earnings ratio of 24.03 and anticipated earnings per share of 0.74 for the current fiscal year.
• The company announced a quarterly dividend of $0.1275 per share, representing a yield of 5.9%, with an associated payout ratio of 141.67%.

Perbak Capital Partners LLP purchased a new stake in Amcor PLC (NYSE:AMCR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 128,612 shares of the company's stock, valued at approximately $1,248,000. Amcor accounts for about 0.9% of Perbak Capital Partners LLP's holdings, making the stock its 13th largest holding.

Other hedge funds have also recently bought and sold shares of the company. Rakuten Securities Inc. raised its holdings in 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 buying an additional 2,996 shares during the period. HM Payson & Co. purchased a new stake in shares of Amcor during the first quarter valued at approximately $30,000. Brentview Investment Management LLC purchased a new stake in shares of Amcor during the first quarter valued at approximately $31,000. CVA Family Office LLC raised its stake in shares of Amcor by 234.1% during the first quarter. CVA Family Office LLC now owns 3,254 shares of the company's stock valued at $32,000 after purchasing an additional 2,280 shares during the period. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of Amcor during the first quarter valued at approximately $36,000. Hedge funds and other institutional investors own 45.14% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AMCR. Jefferies Financial Group began coverage on shares of Amcor in a research note on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 price target for the company. Robert W. Baird dropped their price target on shares of Amcor from $11.00 to $10.00 and set a "neutral" rating for the company 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 stock an "overweight" rating in a report on Friday, July 18th. UBS Group raised shares of Amcor from a "neutral" rating to a "buy" rating in a report on Thursday, June 26th. Finally, Truist Financial set a $11.00 price target on shares of Amcor and gave the company a "buy" rating in a report on Friday, July 11th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Amcor currently has an average rating of "Moderate Buy" and an average price target of $11.42.

Insider Buying and Selling

In other Amcor news, Director Stephen E. Sterrett purchased 10,000 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were bought at an average cost of $8.55 per share, with a total value of $85,500.00. Following the transaction, the director directly owned 10,000 shares in the company, valued at approximately $85,500. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Amcor Price Performance

AMCR stock traded down $0.07 during trading on Friday, hitting $8.29. The company had a trading volume of 20,276,021 shares, compared to its average volume of 26,789,234. The firm has a market capitalization of $11.97 billion, a price-to-earnings ratio of 23.01, a P/E/G ratio of 1.07 and a beta of 0.72. The business has a 50 day moving average of $9.23 and a 200 day moving average of $9.36. Amcor PLC has a fifty-two week low of $8.23 and a fifty-two week high of $11.48. The company has a current ratio of 1.21, a quick ratio of 0.71 and a debt-to-equity ratio of 1.18.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported $0.20 earnings per share 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 analyst estimates of $5.18 billion. During the same period in the previous year, the company posted $0.21 earnings per share. Amcor's 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. As a group, research analysts predict that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The business 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 dividend yield of 6.2%. The ex-dividend date of this dividend is Friday, September 5th. Amcor's dividend payout ratio (DPR) is presently 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.