Amcor PLC $AMCR Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd has increased its holdings in Amcor PLC by 41.5%, now owning 403,383 shares valued at approximately $3.7 million.
• Amcor recently reported $5.08 billion in revenue for the quarter, falling short of expectations, and missed earnings per share estimates with a reported EPS of $0.20.
• The company announced a quarterly dividend of $0.1275 per share, offering a yield of 6.2% with a payout ratio of 141.67%.

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Amcor PLC (NYSE:AMCR - Free Report) by 41.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 403,383 shares of the company's stock after acquiring an additional 118,323 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Amcor were worth $3,707,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Signal Advisors Wealth LLC acquired a new position in shares of Amcor in the second quarter worth about $180,000. Sivia Capital Partners LLC acquired a new position in shares of Amcor during the 2nd quarter worth about $138,000. Central Valley Advisors LLC acquired a new position in shares of Amcor during the 2nd quarter worth about $1,377,000. Procyon Advisors LLC raised its position in shares of Amcor by 78.0% during the 2nd quarter. Procyon Advisors LLC now owns 27,866 shares of the company's stock worth $256,000 after purchasing an additional 12,212 shares during the last quarter. Finally, Pallas Capital Advisors LLC acquired a new position in shares of Amcor during the 2nd quarter worth about $757,000. Institutional investors and hedge funds own 45.14% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. UBS Group upgraded shares of Amcor from a "neutral" rating to a "buy" rating in a research report on Thursday, June 26th. Jefferies Financial Group assumed coverage on shares of Amcor in a research report on Wednesday, July 2nd. They set a "buy" rating and a $12.00 price target for the company. Robert W. Baird reduced their price target on shares of Amcor from $11.00 to $10.00 and set a "neutral" rating for the company in a research report on Friday, August 15th. JPMorgan Chase & Co. initiated coverage on shares of Amcor in a research report on Friday. They set an "overweight" rating and a $10.00 price target for the company. Finally, Royal Bank Of Canada initiated coverage on shares of Amcor in a report on Monday. They issued a "sector perform" rating for the company. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $11.21.

Insider Transactions at Amcor

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

Amcor Trading Down 1.8%

Shares of NYSE:AMCR traded down $0.15 during mid-day trading on Tuesday, reaching $8.11. 14,804,212 shares of the company were exchanged, compared to its average volume of 28,368,932. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.21 and a quick ratio of 0.71. The firm has a market cap of $11.71 billion, a price-to-earnings ratio of 22.51, a P/E/G ratio of 1.06 and a beta of 0.72. The firm's 50-day simple moving average is $8.94 and its 200 day simple moving average is $9.21. Amcor PLC has a 1 year low of $8.12 and a 1 year high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $5.08 billion for 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%.The business's revenue for the quarter was up 43.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 EPS. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. Equities research analysts forecast that Amcor PLC will post 0.74 EPS for the current year.

Amcor Announces Dividend

The firm 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 6.3%. Amcor's dividend payout ratio is 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.