Wealth Enhancement Advisory Services LLC Sells 529,928 Shares of Amcor PLC $AMCR

Key Points

• Wealth Enhancement Advisory Services LLC has reduced its stake in Amcor PLC by 42.2%, selling 529,928 shares during the second quarter, leaving it with approximately 0.05% ownership worth $6,997,000.
• Amcor's recent earnings report revealed $0.20 earnings per share, missing estimates, with revenues of $5.08 billion, marking a 43.8% year-over-year increase.
• The company announced a quarterly dividend of $0.1275 per share, with an annualized yield of 6.3%, despite a high dividend payout ratio of 141.67%.

Wealth Enhancement Advisory Services LLC lowered its stake in shares of Amcor PLC (NYSE:AMCR - Free Report) by 42.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 726,569 shares of the company's stock after selling 529,928 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.05% of Amcor worth $6,997,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMCR. Woodline Partners LP bought a new position in Amcor during the fourth quarter worth about $817,000. Voloridge Investment Management LLC bought a new position in shares of Amcor in the fourth quarter valued at approximately $4,765,000. GTS Securities LLC boosted its position in shares of Amcor by 33.9% in the fourth quarter. GTS Securities LLC now owns 23,995 shares of the company's stock valued at $226,000 after acquiring an additional 6,074 shares during the period. Virtue Capital Management LLC boosted its position in shares of Amcor by 2.8% in the fourth quarter. Virtue Capital Management LLC now owns 45,924 shares of the company's stock valued at $432,000 after acquiring an additional 1,259 shares during the period. Finally, Jefferies Financial Group Inc. bought a new position in shares of Amcor in the fourth quarter valued at approximately $663,000. Institutional investors own 45.14% of the company's stock.

Amcor Trading Down 2.0%

AMCR stock opened at $8.09 on Wednesday. Amcor PLC has a 1-year low of $8.07 and a 1-year high of $11.48. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.21 and a quick ratio of 0.71. The company has a market capitalization of $11.69 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 1.08 and a beta of 0.72. The business has a 50 day simple moving average of $8.91 and a two-hundred day simple moving average of $9.20.

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). The business had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.18 billion. Amcor had a return on equity of 19.43% and a net margin of 3.40%.The company's revenue for the quarter was up 43.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.21 earnings per share. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. Research analysts anticipate that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently disclosed 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. 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 6.3%. Amcor's dividend payout ratio (DPR) is presently 141.67%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AMCR. Truist Financial set a $11.00 price objective on shares of Amcor and gave the company a "buy" rating in a research report on Friday, July 11th. JPMorgan Chase & Co. started coverage on shares of Amcor in a research note on Friday, September 19th. They set an "overweight" rating and a $10.00 price target on the stock. Robert W. Baird cut their target price 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. Jefferies Financial Group initiated coverage on shares of Amcor in a report on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 price target on the stock. Finally, Royal Bank Of Canada initiated coverage on shares of Amcor in a report on Monday. They set a "sector perform" rating on the stock. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Amcor currently has an average rating of "Moderate Buy" and a consensus price target of $11.21.

Insider Buying and Selling

In other Amcor news, Director Stephen E. Sterrett purchased 10,000 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was bought at an average cost of $8.55 per share, for a total transaction of $85,500.00. Following the completion of the purchase, the director owned 10,000 shares in the company, valued at $85,500. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.60% of the company's stock.

Amcor Company 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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