Drive Wealth Management LLC Acquires New Position in Amcor PLC $AMCR

Drive Wealth Management LLC acquired a new stake in shares of Amcor PLC (NYSE:AMCR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 17,916 shares of the company’s stock, valued at approximately $165,000.

Other hedge funds also recently made changes to their positions in the company. AdvisorNet Financial Inc grew its stake in shares of Amcor by 839.8% during the 2nd quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company’s stock valued at $28,000 after acquiring an additional 2,704 shares during the period. HM Payson & Co. bought a new position in shares of Amcor during the 1st quarter valued at approximately $30,000. Brentview Investment Management LLC bought a new position in Amcor in the 1st quarter worth approximately $31,000. Adirondack Trust Co. bought a new position in Amcor in the 2nd quarter worth approximately $29,000. Finally, Bartlett & CO. Wealth Management LLC bought a new position in Amcor in the 2nd quarter worth approximately $33,000. 45.14% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Stephen E. Sterrett acquired 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost 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. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AMCR. Robert W. Baird dropped their price target on Amcor from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Friday, August 15th. Stifel Nicolaus upgraded Amcor from a “hold” rating to a “buy” rating and set a $10.20 price target for the company in a research note on Friday, October 10th. Wells Fargo & Company dropped their price target on Amcor from $11.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, October 15th. Royal Bank Of Canada began coverage on Amcor in a research note on Monday, September 22nd. They issued a “sector perform” rating for the company. Finally, JPMorgan Chase & Co. began coverage on Amcor in a research note on Friday, September 19th. They issued an “overweight” rating and a $10.00 price target for the company. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $10.84.

Amcor Stock Down 0.2%

Shares of AMCR opened at $8.14 on Wednesday. The stock has a market capitalization of $18.75 billion, a price-to-earnings ratio of 22.60, a price-to-earnings-growth ratio of 1.16 and a beta of 0.73. Amcor PLC has a 1 year low of $7.81 and a 1 year high of $11.24. The business’s 50 day simple moving average is $8.31 and its 200-day simple moving average is $8.97. 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:AMCR) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). The firm had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $5.18 billion. Amcor had a return on equity of 19.43% and a net margin of 3.40%.The firm’s revenue was up 43.8% on a year-over-year basis. During the same period last year, the company earned $0.21 earnings per share. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. As a group, equities analysts expect that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

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

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.