Wedmont Private Capital Acquires 80,991 Shares of Amcor PLC $AMCR

Key Points

• Wedmont Private Capital increased its stake in Amcor PLC by 677.0% during Q2, acquiring a total of 92,955 shares worth $911,000.
• Amcor recently announced a quarterly dividend of $0.1275 per share, yielding 6.2% annually, with the ex-dividend date set for September 5.
• Analysts have a consensus rating of "Moderate Buy" on Amcor, with an average price target of $11.21, reflecting optimism about the company's performance.

Wedmont Private Capital lifted its position in Amcor PLC (NYSE:AMCR - Free Report) by 677.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 92,955 shares of the company's stock after buying an additional 80,991 shares during the quarter. Wedmont Private Capital's holdings in Amcor were worth $911,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMCR. Rakuten Securities Inc. lifted its stake 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 valued at $29,000 after purchasing an additional 2,996 shares during the last quarter. HM Payson & Co. acquired a new position in shares of Amcor during the first quarter worth approximately $30,000. Brentview Investment Management LLC bought a new stake in Amcor in the 1st quarter valued at $31,000. CVA Family Office LLC lifted its stake in shares of Amcor by 234.1% in the first 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 during the period. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of Amcor during the 1st quarter worth approximately $36,000. Institutional investors own 45.14% of the company's stock.

Wall Street Analysts Forecast Growth

AMCR has been the topic of a number of analyst reports. Robert W. Baird lowered their target price on shares of Amcor from $11.00 to $10.00 and set a "neutral" rating on the stock in a research note on Friday, August 15th. JPMorgan Chase & Co. initiated coverage on shares of 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 research note on Wednesday, September 10th. They issued a "buy" rating for the company. 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 research note on Friday, July 18th. Finally, Jefferies Financial Group initiated coverage on shares of Amcor in a report on Wednesday, July 2nd. They set a "buy" rating and a $12.00 target price for the company. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $11.21.

Amcor Stock Down 0.2%

Shares of AMCR traded down $0.02 on Tuesday, hitting $8.24. The company's stock had a trading volume of 4,229,909 shares, compared to its average volume of 28,306,730. The firm's fifty day moving average price is $8.94 and its 200-day moving average price is $9.21. The company has a quick ratio of 0.71, a current ratio of 1.21 and a debt-to-equity ratio of 1.18. Amcor PLC has a fifty-two week low of $8.16 and a fifty-two week high of $11.48. The firm has a market capitalization of $11.90 billion, a price-to-earnings ratio of 22.82, a P/E/G ratio of 1.06 and a beta of 0.72.

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 analysts' consensus estimates of $0.21 by ($0.01). The company had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.18 billion. Amcor had a return on equity of 19.43% and a net margin of 3.40%.Amcor's revenue for the quarter was up 43.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 earnings per share. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. On average, equities research analysts expect 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 dividend of $0.1275 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.51 annualized dividend and a yield of 6.2%. Amcor's payout ratio is 141.67%.

Insider Buying and Selling

In related news, Director Stephen E. Sterrett purchased 10,000 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was purchased 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 directly owned 10,000 shares in the company, valued at $85,500. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.60% of the company's stock.

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.