Synergy Asset Management LLC Invests $5.10 Million in Amcor PLC $AMCR

Key Points

• Synergy Asset Management LLC invested approximately $5.10 million in Amcor PLC by purchasing 554,367 shares as disclosed in their recent Form 13F filing.
• Amcor recently announced a quarterly dividend of $0.1275 per share, with an annualized dividend of $0.51, resulting in a dividend yield of 6.2%.
• Wall Street analysts have a favorable outlook on Amcor, with nine analysts rating the stock as "Buy" and targeting an average price of $11.21.

Synergy Asset Management LLC bought a new stake in Amcor PLC (NYSE:AMCR - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 554,367 shares of the company's stock, valued at approximately $5,095,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of AMCR. Parallel Advisors LLC lifted its stake in shares of Amcor by 53.2% in the 1st quarter. Parallel Advisors LLC now owns 6,114 shares of the company's stock valued at $59,000 after acquiring an additional 2,122 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Amcor by 10.2% in the 1st quarter. Rhumbline Advisers now owns 2,800,798 shares of the company's stock valued at $27,168,000 after acquiring an additional 259,233 shares during the last quarter. Czech National Bank lifted its stake in shares of Amcor by 5.9% in the 1st quarter. Czech National Bank now owns 331,973 shares of the company's stock valued at $3,220,000 after acquiring an additional 18,594 shares during the last quarter. NBC Securities Inc. lifted its stake in shares of Amcor by 105,725.0% in the 1st quarter. NBC Securities Inc. now owns 8,466 shares of the company's stock valued at $82,000 after acquiring an additional 8,458 shares during the last quarter. Finally, Merit Financial Group LLC lifted its stake in shares of Amcor by 20.0% in the 1st quarter. Merit Financial Group LLC now owns 16,144 shares of the company's stock valued at $157,000 after acquiring an additional 2,686 shares during the last quarter. Institutional investors own 45.14% of the company's stock.

Insider Buying and Selling at Amcor

In other news, Director Stephen E. Sterrett bought 10,000 shares of Amcor stock in a transaction on Tuesday, August 19th. The shares were purchased at an average price of $8.55 per share, for a total transaction of $85,500.00. Following the acquisition, the director owned 10,000 shares of the company's stock, valued at approximately $85,500. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.32% of the company's stock.

Amcor Stock Up 0.4%

AMCR stock opened at $8.23 on Friday. Amcor PLC has a fifty-two week low of $7.90 and a fifty-two week high of $11.46. The business's 50 day moving average price is $8.70 and its two-hundred day moving average price is $9.12. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.71 and a current ratio of 1.21. The company has a market capitalization of $11.89 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 1.07 and a beta of 0.73.

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

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Friday, September 5th were issued a dividend of $0.1275 per share. The ex-dividend date was Friday, September 5th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.2%. Amcor's dividend payout ratio is 141.67%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AMCR shares. JPMorgan Chase & Co. started coverage on Amcor in a research note on Friday, September 19th. They issued an "overweight" rating and a $10.00 target price for the company. Jefferies Financial Group started coverage on Amcor in a research report on Wednesday, July 2nd. They set a "buy" rating and a $12.00 price target for the company. UBS Group raised Amcor from a "neutral" rating to a "buy" rating in a research report on Thursday, June 26th. Truist Financial set a $11.00 price target on Amcor and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, Royal Bank Of Canada started coverage on Amcor in a research report on Monday, September 22nd. They set a "sector perform" rating for the company. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $11.21.

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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