Price T Rowe Associates Inc. MD Grows Stock Position in Amcor PLC $AMCR

Key Points

• Price T Rowe Associates Inc. increased its stake in Amcor PLC by 1.2%, owning approximately 12.6 million shares valued at $122.6 million after a purchase of 151,026 shares in the first quarter.
• Analysts are generally bullish on Amcor, with a consensus rating of "Moderate Buy" and a target price of $11.42, following several upgrades from firms like Truist Financial and UBS Group.
• Amcor recently announced a quarterly dividend of $0.1275 per share, yielding 5.9%, despite a high dividend payout ratio of 141.67%.

Price T Rowe Associates Inc. MD raised its holdings in shares of Amcor PLC (NYSE:AMCR - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,643,651 shares of the company's stock after acquiring an additional 151,026 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.87% of Amcor worth $122,644,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CX Institutional acquired a new stake in Amcor during the 1st quarter worth $111,000. SG Americas Securities LLC grew its holdings in shares of Amcor by 174.3% during the first quarter. SG Americas Securities LLC now owns 149,983 shares of the company's stock worth $1,455,000 after purchasing an additional 95,314 shares during the last quarter. OneDigital Investment Advisors LLC acquired a new stake in shares of Amcor during the first quarter worth about $121,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Amcor by 16.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,256,497 shares of the company's stock valued at $12,188,000 after purchasing an additional 175,731 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of Amcor by 5.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 82,025 shares of the company's stock valued at $796,000 after purchasing an additional 4,591 shares during the period. Institutional investors and hedge funds own 45.14% of the company's stock.

Analysts Set New Price Targets

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

Insider Activity at Amcor

In other news, Director Stephen E. Sterrett purchased 10,000 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average price of $8.55 per share, with a total value of $85,500.00. Following the purchase, the director directly owned 10,000 shares of the company's stock, valued at $85,500. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 0.60% of the stock is owned by company insiders.

Amcor Stock Performance

AMCR traded up $0.10 during trading on Friday, reaching $8.65. The company's stock had a trading volume of 15,932,277 shares, compared to its average volume of 28,185,606. The company has a market capitalization of $12.50 billion, a price-to-earnings ratio of 24.03, a price-to-earnings-growth ratio of 1.13 and a beta of 0.74. The company's fifty day moving average price is $9.31 and its 200-day moving average price is $9.42. Amcor PLC has a 52-week low of $8.37 and a 52-week 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.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly 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). The company had revenue of $5.08 billion during the quarter, compared to analysts' expectations of $5.18 billion. Amcor had a net margin of 3.40% and a return on equity of 19.43%. The business's revenue for the quarter was up 43.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 EPS. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. On average, equities analysts forecast that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Friday, September 5th will be given a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date 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.