SVB Wealth LLC Increases Position in Amcor PLC $AMCR

Key Points

• SVB Wealth LLC significantly increased its stake in Amcor PLC by 225.0% in the first quarter, acquiring an additional 110,026 shares, bringing its total holding to 158,930 shares valued at approximately $1.54 million.
• Amcor recently declared a quarterly dividend of $0.1275 per share, which translates to an annualized yield of 5.9%, despite a payout ratio of 141.67%.
• The company reported quarterly earnings of $0.20 per share, missing analysts' estimates, with revenue of $5.08 billion, which was also below expectations.

SVB Wealth LLC grew its stake in Amcor PLC (NYSE:AMCR - Free Report) by 225.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 158,930 shares of the company's stock after acquiring an additional 110,026 shares during the quarter. SVB Wealth LLC's holdings in Amcor were worth $1,542,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. CX Institutional purchased a new position in shares of Amcor in the 1st quarter valued at $111,000. SG Americas Securities LLC increased its holdings in shares of Amcor by 174.3% in the 1st quarter. SG Americas Securities LLC now owns 149,983 shares of the company's stock valued at $1,455,000 after acquiring an additional 95,314 shares during the period. OneDigital Investment Advisors LLC purchased a new position in shares of Amcor in the 1st quarter valued at $121,000. Wealth Enhancement Advisory Services LLC increased 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 acquiring an additional 175,731 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its holdings 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 acquiring an additional 4,591 shares during the period. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Stephen E. Sterrett purchased 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, with a total value of $85,500.00. Following the transaction, the director owned 10,000 shares in the company, valued at $85,500. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company's stock.

Amcor Stock Up 0.8%

Amcor stock opened at $8.7150 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.21 and a quick ratio of 0.37. The stock has a market capitalization of $12.60 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 1.14 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 has a fifty day moving average price of $9.36 and a 200-day moving average price of $9.47.

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 business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.18 billion. Amcor had a return on equity of 19.43% and a net margin of 3.40%.The firm's revenue for the quarter was up 43.8% compared to the same quarter last year. During the same period in the previous year, the business earned $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 fiscal year.

Amcor Announces Dividend

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

Analyst Upgrades and Downgrades

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

About Amcor

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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