Sound Income Strategies LLC Acquires 603,961 Shares of Amcor PLC $AMCR

Key Points

• Sound Income Strategies LLC increased its stake in Amcor PLC by 54,855.7% during the second quarter, acquiring an additional 603,961 shares, bringing its total holdings to over 605,000 shares valued at $5.56 million.
• Amcor reported earnings per share of $0.20 for the last quarter, missing the expected $0.21, alongside a revenue of $5.08 billion—lower than the forecast of $5.18 billion.
• The company announced a quarterly dividend of $0.1275 per share, yielding about 6.3%, while its payout ratio stands at 141.67%.

Sound Income Strategies LLC boosted its holdings in Amcor PLC (NYSE:AMCR - Free Report) by 54,855.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 605,062 shares of the company's stock after purchasing an additional 603,961 shares during the quarter. Sound Income Strategies LLC's holdings in Amcor were worth $5,561,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its holdings in Amcor by 5.3% in the second quarter. Farther Finance Advisors LLC now owns 20,689 shares of the company's stock worth $190,000 after purchasing an additional 1,035 shares in the last quarter. UMB Bank n.a. increased its holdings in Amcor by 20.0% in the first quarter. UMB Bank n.a. now owns 6,386 shares of the company's stock worth $62,000 after purchasing an additional 1,066 shares in the last quarter. AlphaStar Capital Management LLC increased its holdings in shares of Amcor by 2.4% during the first quarter. AlphaStar Capital Management LLC now owns 50,472 shares of the company's stock valued at $490,000 after acquiring an additional 1,185 shares in the last quarter. Koshinski Asset Management Inc. increased its holdings in shares of Amcor by 10.1% during the first quarter. Koshinski Asset Management Inc. now owns 13,659 shares of the company's stock valued at $132,000 after acquiring an additional 1,252 shares in the last quarter. Finally, Private Trust Co. NA increased its holdings in shares of Amcor by 5.1% during the first quarter. Private Trust Co. NA now owns 27,301 shares of the company's stock valued at $265,000 after acquiring an additional 1,315 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Stock Up 1.1%

Shares of NYSE:AMCR opened at $8.06 on Monday. The stock has a market cap of $11.65 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 1.05 and a beta of 0.72. The company has a quick ratio of 0.71, a current ratio of 1.21 and a debt-to-equity ratio of 1.18. Amcor PLC has a 12-month low of $7.90 and a 12-month high of $11.48. The business's 50 day moving average is $8.82 and its 200 day moving average is $9.15.

Amcor (NYSE:AMCR - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). The company had revenue of $5.08 billion for 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 firm's quarterly revenue was up 43.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 EPS. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. On average, sell-side analysts forecast that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Friday, September 5th were given a dividend of $0.1275 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.51 annualized dividend and a dividend yield of 6.3%. Amcor's payout ratio is presently 141.67%.

Insider Activity

In related news, Director Stephen E. Sterrett bought 10,000 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average price of $8.55 per share, with a total value of $85,500.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AMCR shares. Royal Bank Of Canada started coverage on Amcor in a report on Monday, September 22nd. They set a "sector perform" rating for the company. Truist Financial set a $11.00 price objective on Amcor and gave the company a "buy" rating in a report on Friday, July 11th. UBS Group upgraded Amcor from a "neutral" rating to a "buy" rating in a report on Thursday, June 26th. The Goldman Sachs Group started coverage on Amcor in a report on Wednesday, September 10th. They set a "buy" rating for the company. Finally, Jefferies Financial Group started coverage on Amcor in a report on Wednesday, July 2nd. They set a "buy" rating and a $12.00 price objective for the company. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Amcor currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.21.

Amcor 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.

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