Tocqueville Asset Management L.P. Raises Stock Holdings in Amcor PLC $AMCR

Key Points

• Tocqueville Asset Management L.P. increased its holdings in Amcor PLC by 52.5% during the first quarter, acquiring an additional 178,952 shares to reach a total of 519,977 shares, valued at approximately $5.04 million.
• Amcor's recent quarterly earnings showed an EPS of $0.20, missing analysts' expectations by $0.01, with revenue reaching $5.08 billion, falling short of projections by $0.1 billion.
• The company declared a quarterly dividend of $0.1275 per share, translating to an annualized yield of 5.8%, with the payout reflecting a high payout ratio of 141.67%.

Tocqueville Asset Management L.P. grew its stake in shares of Amcor PLC (NYSE:AMCR - Free Report) by 52.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 519,977 shares of the company's stock after purchasing an additional 178,952 shares during the quarter. Tocqueville Asset Management L.P.'s holdings in Amcor were worth $5,044,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rakuten Securities Inc. increased its holdings in shares of Amcor by 18,725.0% during the first quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock valued at $29,000 after acquiring an additional 2,996 shares in the last quarter. HM Payson & Co. purchased a new position in shares of Amcor during the 1st quarter valued at about $30,000. Brentview Investment Management LLC purchased a new position in shares of Amcor during the 1st quarter valued at about $31,000. CVA Family Office LLC lifted its position in shares of Amcor by 234.1% during the 1st quarter. CVA Family Office LLC now owns 3,254 shares of the company's stock valued at $32,000 after buying an additional 2,280 shares in the last quarter. Finally, Quarry LP lifted its holdings in Amcor by 2,064.5% in the 4th quarter. Quarry LP now owns 3,723 shares of the company's stock worth $35,000 after purchasing an additional 3,551 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Robert W. Baird reduced their price objective on Amcor from $11.00 to $10.00 and set a "neutral" rating on the stock in a research note on Friday, August 15th. 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 target price on Amcor and gave the stock a "buy" rating in a report on Friday, July 11th. Jefferies Financial Group started coverage on Amcor in a research note on Wednesday, July 2nd. They set a "buy" rating and a $12.00 price objective for the company. Finally, Wells Fargo & Company upped their target price on Amcor from $10.00 to $11.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $11.42.

Amcor Stock Performance

Shares of AMCR stock traded up $0.0660 during mid-day trading on Thursday, reaching $8.6360. The stock had a trading volume of 26,625,320 shares, compared to its average volume of 29,287,986. The business's fifty day moving average is $9.38 and its 200-day moving average is $9.49. The company has a current ratio of 1.21, a quick ratio of 0.37 and a debt-to-equity ratio of 1.18. The firm has a market cap of $12.48 billion, a price-to-earnings ratio of 23.99, a PEG 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.

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

Amcor Announces Dividend

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

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.