US Bancorp DE Grows Position in Amcor PLC $AMCR

Key Points

• US Bancorp DE increased its ownership in Amcor PLC by 6.0% during the second quarter, now holding approximately 0.06% of the company, valued at $7.48 million.
• Amcor recently reported quarterly earnings of $0.20 per share, missing estimates, with a revenue of $5.08 billion, compared to a forecast of $5.18 billion.
• The company announced a quarterly dividend of $0.1275 per share, translating to an annual yield of 6.4%, despite a high payout ratio of 141.67%.

US Bancorp DE boosted its stake in Amcor PLC (NYSE:AMCR - Free Report) by 6.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 814,112 shares of the company's stock after buying an additional 46,340 shares during the quarter. US Bancorp DE owned approximately 0.06% of Amcor worth $7,482,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. CX Institutional purchased a new stake in Amcor in the 1st quarter valued at $111,000. SG Americas Securities LLC boosted 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 worth $1,455,000 after buying an additional 95,314 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Amcor by 51.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 464,293 shares of the company's stock worth $4,266,000 after buying an additional 158,082 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Amcor by 71.4% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,446,429 shares of the company's stock worth $22,483,000 after buying an additional 1,019,306 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its holdings in shares of Amcor by 54,855.7% in the 2nd quarter. Sound Income Strategies LLC now owns 605,062 shares of the company's stock worth $5,561,000 after buying an additional 603,961 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Stephen E. Sterrett bought 10,000 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was acquired at an average price of $8.55 per share, for a total transaction of $85,500.00. Following the purchase, the director directly owned 10,000 shares in the company, valued at $85,500. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is currently owned by corporate insiders.

Amcor Stock Up 1.6%

AMCR stock opened at $7.95 on Monday. 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 $18.32 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 1.13 and a beta of 0.73. Amcor PLC has a fifty-two week low of $7.81 and a fifty-two week high of $11.46. The stock has a fifty day moving average of $8.52 and a 200-day moving average of $9.04.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $5.18 billion. During the same quarter in the previous year, the company posted $0.21 EPS. The firm's revenue was up 43.8% compared to the same quarter last year. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. As a group, equities research analysts predict 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 was paid on Thursday, September 25th. Shareholders of record on Friday, September 5th were paid a $0.1275 dividend. The ex-dividend date was Friday, September 5th. This represents a $0.51 annualized dividend and a yield of 6.4%. Amcor's dividend payout ratio (DPR) is currently 141.67%.

Analysts Set New Price Targets

AMCR has been the topic of a number of research analyst reports. UBS Group raised shares of Amcor from a "neutral" rating to a "buy" rating in a report on Thursday, June 26th. Robert W. Baird cut their price target on shares of Amcor from $11.00 to $10.00 and set a "neutral" rating on the stock in a report on Friday, August 15th. Truist Financial set a $11.00 price target on shares of Amcor and gave the stock a "buy" rating in a report on Friday, July 11th. Wells Fargo & Company boosted their price target on shares of Amcor from $10.00 to $11.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Finally, The Goldman Sachs Group initiated coverage on Amcor in a research note on Wednesday, September 10th. They set a "buy" rating for the company. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Amcor has an average rating of "Moderate Buy" and a consensus target price of $11.09.

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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