Sumitomo Mitsui Trust Group Inc. Grows Holdings in Amcor PLC $AMCR

Sumitomo Mitsui Trust Group Inc. raised its position in Amcor PLC (NYSE:AMCR) by 62.2% in the second quarter, Holdings Channel reports. The institutional investor owned 6,658,569 shares of the company’s stock after purchasing an additional 2,552,174 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Amcor were worth $61,192,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Amcor by 15.5% in the first quarter. Vanguard Group Inc. now owns 68,105,901 shares of the company’s stock valued at $660,627,000 after buying an additional 9,119,308 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Amcor by 8.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 49,831,643 shares of the company’s stock valued at $483,367,000 after buying an additional 3,778,714 shares in the last quarter. Invesco Ltd. increased its holdings in Amcor by 9.5% in the first quarter. Invesco Ltd. now owns 33,314,287 shares of the company’s stock valued at $323,149,000 after buying an additional 2,889,166 shares in the last quarter. Wellington Management Group LLP increased its holdings in Amcor by 9.8% in the first quarter. Wellington Management Group LLP now owns 30,707,205 shares of the company’s stock valued at $297,860,000 after buying an additional 2,735,320 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Amcor by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 19,191,544 shares of the company’s stock valued at $186,142,000 after buying an additional 490,827 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Analyst Ratings Changes

AMCR has been the subject of a number of recent analyst reports. The Goldman Sachs Group assumed coverage on shares of Amcor in a report on Wednesday, September 10th. They issued a “buy” rating for the company. JPMorgan Chase & Co. assumed coverage on shares of Amcor in a research note on Friday, September 19th. They set an “overweight” rating and a $10.00 target price for the company. Royal Bank Of Canada started coverage on shares of Amcor in a research note on Monday, September 22nd. They issued a “sector perform” rating on the stock. Robert W. Baird lowered their price objective on Amcor from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Friday, August 15th. Finally, Jefferies Financial Group assumed coverage on Amcor in a report on Wednesday, July 2nd. They set a “buy” rating and a $12.00 target price for the company. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $10.84.

Amcor Price Performance

AMCR stock opened at $8.15 on Monday. Amcor PLC has a 1 year low of $7.81 and a 1 year high of $11.24. 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 firm has a market capitalization of $18.78 billion, a PE ratio of 22.63, a price-to-earnings-growth ratio of 1.16 and a beta of 0.73. The business has a 50 day simple moving average of $8.25 and a 200-day simple moving average of $8.96.

Amcor (NYSE:AMCR) last announced its quarterly earnings data 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 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 business’s quarterly revenue was up 43.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 EPS. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. Equities research analysts anticipate that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors 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 currently 141.67%.

Insider Transactions at Amcor

In other news, Director Stephen E. Sterrett acquired 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director owned 10,000 shares in the company, valued at approximately $85,500. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.32% of the company’s stock.

Amcor 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.