Allspring Global Investments Holdings LLC Increases Stock Position in Amcor PLC $AMCR

Allspring Global Investments Holdings LLC lifted its holdings in shares of Amcor PLC (NYSE:AMCRFree Report) by 4,928.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,732,524 shares of the company’s stock after buying an additional 4,638,412 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Amcor were worth $44,817,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. LRI Investments LLC purchased a new stake in shares of Amcor during the 2nd quarter valued at approximately $43,000. Alta Advisers Ltd purchased a new stake in shares of Amcor during the 2nd quarter valued at approximately $107,000. CWM LLC lifted its stake in shares of Amcor by 554.0% during the 2nd quarter. CWM LLC now owns 243,126 shares of the company’s stock valued at $2,234,000 after buying an additional 205,950 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Amcor by 105.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 175,269 shares of the company’s stock valued at $1,611,000 after buying an additional 90,022 shares in the last quarter. Finally, waypoint wealth counsel purchased a new stake in shares of Amcor during the 2nd quarter valued at approximately $115,000. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMCR has been the topic of a number of recent research reports. Royal Bank Of Canada initiated coverage on shares of Amcor in a research note on Monday, September 22nd. They set a “sector perform” rating on the stock. Jefferies Financial Group began coverage on shares of Amcor in a research note on Wednesday, July 2nd. They issued a “buy” rating and a $12.00 target price on the stock. Wells Fargo & Company increased their target price 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. 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. Finally, Truist Financial set a $11.00 target price on shares of Amcor and gave the stock a “buy” rating in a research note on Friday, July 11th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.09.

Check Out Our Latest Stock Report on AMCR

Insider Activity at Amcor

In related news, Director Stephen E. Sterrett purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average price of $8.55 per share, with a total value of $85,500.00. Following the acquisition, the director directly owned 10,000 shares of the company’s stock, valued at approximately $85,500. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is owned by insiders.

Amcor Price Performance

Shares of NYSE:AMCR opened at $8.11 on Wednesday. The company’s fifty day moving average price is $8.46 and its 200-day moving average price is $9.02. The firm has a market capitalization of $18.68 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 1.14 and a beta of 0.73. Amcor PLC has a one year low of $7.81 and a one year high of $11.46. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.21 and a quick ratio of 0.71.

Amcor (NYSE:AMCRGet Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported $0.20 EPS 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 the consensus estimate of $5.18 billion. Amcor had a return on equity of 19.43% and a net margin of 3.40%.Amcor’s quarterly revenue was up 43.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 EPS. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. On average, equities research analysts anticipate that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Friday, September 5th were issued a $0.1275 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.3%. Amcor’s dividend payout ratio is presently 141.67%.

Amcor Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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