Rakuten Investment Management Inc. Acquires 82,986 Shares of Amcor PLC $AMCR

Key Points

• Rakuten Investment Management opened a new Amcor position, buying 82,986 shares worth approximately $3.52 million in the third quarter. Institutional investors collectively own 45.14% of the company’s stock.
• Amcor reported quarterly revenue of $6.13 billion, above the $5.75 billion consensus, but earnings per share of $0.95 slightly missed the $0.96 estimate.
• Amcor raised its quarterly dividend from $0.65 to $0.66 per share, equivalent to $2.64 annually and a stated yield of about 5.9%.

Rakuten Investment Management Inc. purchased a new position in shares of Amcor PLC (NYSE:AMCR - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 82,986 shares of the company's stock, valued at approximately $3,524,000.

Other large investors have also recently made changes to their positions in the company. Provenance Wealth Advisors LLC bought a new position in Amcor in the 3rd quarter worth about $56,000. Associated Banc Corp bought a new stake in shares of Amcor during the third quarter valued at approximately $1,817,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Amcor by 2.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,162,944 shares of the company's stock valued at $48,681,000 after acquiring an additional 22,471 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Amcor in the third quarter valued at approximately $6,768,000. Finally, Intrua Financial LLC purchased a new stake in shares of Amcor in the third quarter valued at approximately $503,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Stock Performance

Shares of NYSE:AMCR traded down $0.84 during trading on Friday, hitting $44.99. The stock had a trading volume of 4,385,140 shares, compared to its average volume of 3,182,710. The company has a quick ratio of 0.76, a current ratio of 1.25 and a debt-to-equity ratio of 1.17. Amcor PLC has a 12-month low of $36.25 and a 12-month high of $50.94. The stock has a market capitalization of $20.80 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 3.06 and a beta of 0.56. The stock has a 50-day simple moving average of $44.00 and a two-hundred day simple moving average of $43.17.

Amcor (NYSE:AMCR - Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.95 earnings per share for the quarter, missing analysts' consensus estimates of $0.96 by ($0.01). Amcor had a net margin of 4.71% and a return on equity of 15.92%. The company had revenue of $6.13 billion for the quarter, compared to analysts' expectations of $5.75 billion. During the same quarter in the previous year, the business posted $0.11 EPS. On average, equities research analysts expect that Amcor PLC will post 1.83 earnings per share for the current fiscal year.

Amcor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Wednesday, November 25th will be paid a $0.66 dividend. The ex-dividend date of this dividend is Wednesday, November 25th. This represents a $2.64 dividend on an annualized basis and a yield of 5.9%. This is a boost from Amcor's previous quarterly dividend of $0.65. Amcor's dividend payout ratio is 110.17%.

Amcor News Summary

Here are the key news stories impacting Amcor this week:

• Positive Sentiment: Amcor raised its quarterly dividend 1.5%, from $0.65 to $0.66 per share. The annualized payout is $2.64, equivalent to a yield of about 5.7% at the cited share price. Dividend information
• Positive Sentiment: Truist maintained a Buy rating and lifted its price target to $53 from $51, signaling continued confidence in Amcor’s prospects. Truist price-target update
• Positive Sentiment: Amcor reported revenue of $6.13 billion, above the $5.75 billion consensus estimate, and cited higher volumes. Its new lightweight closure and DecoFusion tube award also support its sustainability and product-innovation profile, though these developments may have limited near-term financial impact. Quarterly results Lightweight closure announcement DecoFusion award
• Neutral Sentiment: Amcor filed its quarterly report and confirmed listing compliance; the notice did not indicate a material change to its outlook. Quarterly filing notice
• Negative Sentiment: Quarterly EPS was $0.95, below the $0.96 consensus estimate. Amcor attributed pressure to higher costs and cut its transition-period EPS outlook, raising concerns about near-term earnings even as revenue exceeded expectations. Earnings and outlook report
• Negative Sentiment: Deutsche Bank downgraded AMCR from Buy to Hold, adding to caution around valuation and the near-term outlook. Deutsche Bank rating change

Analyst Ratings Changes

Several research analysts have commented on AMCR shares. BMO Capital Markets began coverage on Amcor in a report on Thursday, July 16th. They set a "market perform" rating and a $47.00 price objective on the stock. JPMorgan Chase & Co. cut Amcor from an "overweight" rating to a "neutral" rating and upped their target price for the stock from $44.00 to $47.00 in a report on Monday, August 17th. Weiss Ratings raised Amcor from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, October 29th. UBS Group restated a "buy" rating on shares of Amcor in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft downgraded Amcor from a "buy" rating to a "hold" rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $49.54.

Amcor Company Profile

Amcor plc NYSE: AMCR is a global packaging company that develops and produces packaging solutions for food, beverage, pharmaceutical, medical, personal care, household, and other consumer and industrial products. Its offerings include flexible packaging, rigid containers, closures, bottles, specialty cartons, and related packaging systems designed to protect products, support supply chains, and improve convenience and sustainability.

The company serves customers across North America, Latin America, Europe, Asia-Pacific, and other international markets.

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