Wedge Capital Management L L P NC Has $7.10 Million Holdings in Amcor PLC $AMCR

Key Points

• Wedge Capital Management L L P NC increased its holdings in Amcor PLC by 20.6%, acquiring an additional 132,002 shares, bringing their total to 772,904 shares valued at approximately $7.1 million.
• Amcor has seen positive analyst sentiment, with multiple firms assigning a "buy" rating and a consensus target price of $11.21.
• The company recently announced a quarterly dividend of $0.1275 per share, representing an annualized yield of 6.2%, with a high dividend payout ratio of 141.67%.

Wedge Capital Management L L P NC lifted its position in shares of Amcor PLC (NYSE:AMCR - Free Report) by 20.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 772,904 shares of the company's stock after buying an additional 132,002 shares during the period. Wedge Capital Management L L P NC owned about 0.05% of Amcor worth $7,103,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Rakuten Securities Inc. increased its stake in 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. Adirondack Trust Co. bought a new stake in shares of Amcor during the second quarter valued at approximately $29,000. HM Payson & Co. bought a new stake in shares of Amcor during the first quarter valued at approximately $30,000. Brentview Investment Management LLC bought a new stake in Amcor in the first quarter worth $31,000. Finally, CVA Family Office LLC lifted its holdings in shares of Amcor by 234.1% during the first quarter. CVA Family Office LLC now owns 3,254 shares of the company's stock valued at $32,000 after purchasing an additional 2,280 shares in 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 firm's stock in a transaction on Tuesday, August 19th. The stock was bought at an average price of $8.55 per share, with a total value of $85,500.00. Following the purchase, the director directly owned 10,000 shares of the company's stock, valued at approximately $85,500. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company's stock.

Amcor Trading Down 1.8%

Shares of AMCR stock traded down $0.15 on Tuesday, reaching $8.11. 17,210,383 shares of the stock were exchanged, compared to its average volume of 28,381,922. Amcor PLC has a 1-year low of $8.08 and a 1-year high of $11.48. The stock has a market cap of $11.71 billion, a P/E ratio of 22.51, a price-to-earnings-growth ratio of 1.06 and a beta of 0.72. The company has a quick ratio of 0.71, a current ratio of 1.21 and a debt-to-equity ratio of 1.18. The firm has a 50 day moving average of $8.94 and a two-hundred day moving average of $9.21.

Amcor (NYSE:AMCR - Get Free Report) last announced its 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 net margin of 3.40% and a return on equity of 19.43%. The business had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.18 billion. During the same quarter in the prior year, the business earned $0.21 earnings per share. 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. On average, research analysts anticipate that Amcor PLC will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Friday, September 5th will be given a $0.1275 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.51 annualized dividend and a yield of 6.3%. Amcor's payout ratio is 141.67%.

Wall Street Analyst Weigh In

A number of analysts have commented on AMCR shares. UBS Group upgraded 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 stock a "buy" rating in a research note on Friday, July 11th. JPMorgan Chase & Co. assumed coverage on Amcor in a report on Friday. They set an "overweight" rating and a $10.00 price objective on the stock. The Goldman Sachs Group started coverage on Amcor in a report on Wednesday, September 10th. They issued a "buy" rating on the stock. Finally, Jefferies Financial Group started coverage on Amcor in a research report on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 price objective for the company. Nine equities research 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.com, Amcor has a consensus rating of "Moderate Buy" and a consensus target price of $11.21.

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.