Voya Investment Management LLC Sells 333,661 Shares of Amcor PLC $AMCR

Key Points

• Voya Investment Management LLC reduced its stake in Amcor PLC by 38.1%, selling 333,661 shares and leaving it with 542,226 shares valued at $5.26 million.
• Amcor announced a quarterly dividend of $0.1275 per share, with an annualized yield of 6.1%, set to be paid on September 25th.
• Analysts maintain a consensus rating of "Moderate Buy" for Amcor, with an average price target of $11.42 per share.

Voya Investment Management LLC reduced its stake in Amcor PLC (NYSE:AMCR - Free Report) by 38.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 542,226 shares of the company's stock after selling 333,661 shares during the period. Voya Investment Management LLC's holdings in Amcor were worth $5,260,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in AMCR. Rakuten Securities Inc. lifted its position in shares of Amcor by 18,725.0% in the 1st quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock worth $29,000 after purchasing an additional 2,996 shares during the period. HM Payson & Co. purchased a new stake in shares of Amcor in the 1st quarter worth approximately $30,000. Brentview Investment Management LLC purchased a new stake in shares of Amcor in the 1st quarter worth approximately $31,000. CVA Family Office LLC lifted its position in shares of Amcor by 234.1% in the 1st quarter. CVA Family Office LLC now owns 3,254 shares of the company's stock worth $32,000 after purchasing an additional 2,280 shares during the period. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of Amcor in the 1st quarter worth approximately $36,000. 45.14% of the stock is currently owned by institutional investors.

Insider Transactions at Amcor

In other Amcor news, Director Stephen E. Sterrett bought 10,000 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased 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. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Truist Financial set a $11.00 price objective on shares of Amcor and gave the stock a "buy" rating in a research note on Friday, July 11th. The Goldman Sachs Group assumed coverage on shares of Amcor in a research note on Wednesday, September 10th. They set a "buy" rating for the company. Robert W. Baird reduced their price objective on shares of Amcor from $11.00 to $10.00 and set a "neutral" rating for the company in a research note on Friday, August 15th. Jefferies Financial Group assumed coverage on shares of Amcor in a research note on Wednesday, July 2nd. They set a "buy" rating and a $12.00 price objective for the company. Finally, UBS Group upgraded shares of Amcor from a "neutral" rating to a "buy" rating in a research note on Thursday, June 26th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Amcor presently has a consensus rating of "Moderate Buy" and an average price target of $11.42.

Amcor Price Performance

Shares of NYSE AMCR opened at $8.31 on Friday. The firm has a market capitalization of $12.01 billion, a P/E ratio of 23.08, a PEG ratio of 1.07 and a beta of 0.72. Amcor PLC has a one year low of $8.16 and a one year high of $11.48. The company's fifty day moving average is $8.99 and its two-hundred day moving average is $9.25. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.71 and a current ratio of 1.21.

Amcor (NYSE:AMCR - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported $0.20 EPS 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 business had revenue of $5.08 billion during the quarter, compared to analysts' expectations of $5.18 billion. During the same quarter in the prior year, the firm earned $0.21 earnings per share. Amcor's quarterly revenue was up 43.8% on a year-over-year basis. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. Analysts forecast that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Friday, September 5th will be given a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend is Friday, September 5th. Amcor's dividend payout ratio is 141.67%.

Amcor 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.

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