Amcor PLC $AMCR Shares Acquired by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in Amcor PLC by 6.5%, holding 2,695,733 shares worth approximately $26.15 million at the end of the first quarter.
• Amcor's stock price opened at $8.7150, with a market capitalization of $12.60 billion, and the company reported quarterly revenue of $5.08 billion, although it missed analyst estimates.
• Amcor has set a quarterly dividend of $0.1275 per share, indicating a yield of 5.9% with a dividend payout ratio of 141.67%.

Raymond James Financial Inc. lifted its position in shares of Amcor PLC (NYSE:AMCR - Free Report) by 6.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,695,733 shares of the company's stock after purchasing an additional 165,398 shares during the period. Raymond James Financial Inc. owned 0.19% of Amcor worth $26,149,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Tocqueville Asset Management L.P. boosted its holdings in Amcor by 52.5% in the first quarter. Tocqueville Asset Management L.P. now owns 519,977 shares of the company's stock valued at $5,044,000 after acquiring an additional 178,952 shares in the last quarter. Ethic Inc. lifted its position in Amcor by 5.6% during the first quarter. Ethic Inc. now owns 122,894 shares of the company's stock valued at $1,206,000 after buying an additional 6,534 shares during the period. Brandywine Global Investment Management LLC lifted its position in Amcor by 42.3% during the first quarter. Brandywine Global Investment Management LLC now owns 1,829,580 shares of the company's stock valued at $17,747,000 after buying an additional 543,492 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Amcor by 2.6% during the first 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 in the last quarter. Finally, Kovitz Investment Group Partners LLC increased its holdings in shares of Amcor by 13.8% during the first quarter. Kovitz Investment Group Partners LLC now owns 23,458 shares of the company's stock valued at $228,000 after acquiring an additional 2,852 shares in the last quarter. Institutional investors own 45.14% of the company's stock.

Wall Street Analyst Weigh In

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

Amcor Price Performance

Shares of NYSE:AMCR traded up $0.08 during mid-day trading on Friday, reaching $8.63. The stock had a trading volume of 6,812,747 shares, compared to its average volume of 28,909,227. The company has a current ratio of 1.21, a quick ratio of 0.71 and a debt-to-equity ratio of 1.18. The company has a market cap of $12.47 billion, a P/E ratio of 23.96, a price-to-earnings-growth ratio of 1.11 and a beta of 0.74. Amcor PLC has a 1 year low of $8.37 and a 1 year high of $11.48. The business's 50 day moving average price is $9.32 and its 200 day moving average price is $9.43.

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

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.1275 per share. The ex-dividend date is Friday, September 5th. This represents a $0.51 dividend on an annualized basis and a yield of 5.9%. Amcor's dividend payout ratio is currently 141.67%.

Insiders Place Their Bets

In related news, Director Stephen E. Sterrett bought 10,000 shares of the stock in a transaction on Tuesday, August 19th. The stock was bought at an average price of $8.55 per share, for a total transaction of $85,500.00. Following the completion of the acquisition, the director directly owned 10,000 shares in the company, valued at approximately $85,500. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

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.