PDS Planning Inc Buys New Stake in Amcor PLC $AMCR

PDS Planning Inc bought a new stake in Amcor PLC (NYSE:AMCR) during the second quarter, Holdings Channel reports. The firm bought 10,560 shares of the company’s stock, valued at approximately $97,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMCR. Vanguard Group Inc. grew its position in shares of 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 purchasing an additional 9,119,308 shares during the last quarter. Nuveen LLC acquired a new stake in Amcor in the 1st quarter valued at approximately $37,522,000. Charles Schwab Investment Management Inc. grew its holdings in Amcor by 8.2% in the 1st 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 during the last quarter. Invesco Ltd. grew its holdings in Amcor by 9.5% in the 1st 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 during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Amcor by 34.9% in the first quarter. Bank of New York Mellon Corp now owns 10,613,159 shares of the company’s stock worth $102,948,000 after acquiring an additional 2,747,846 shares during the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AMCR. Truist Financial set a $11.00 price objective on shares of Amcor and gave the stock a “buy” rating in a research note on Friday, July 11th. Jefferies Financial Group started coverage on shares of Amcor in a research report on Wednesday, July 2nd. They issued a “buy” rating and a $12.00 price target on the stock. Royal Bank Of Canada started coverage on Amcor in a research report on Monday, September 22nd. They set a “sector perform” rating on the stock. Robert W. Baird decreased their target price on Amcor from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Friday, August 15th. Finally, UBS Group raised Amcor from a “neutral” rating to a “buy” rating in a research report on Thursday, June 26th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Amcor currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.09.

Amcor Stock Up 0.8%

NYSE AMCR opened at $8.00 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 0.71 and a debt-to-equity ratio of 1.18. The stock’s 50 day moving average is $8.49 and its two-hundred day moving average is $9.03. The company has a market capitalization of $18.43 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 1.13 and a beta of 0.73. Amcor PLC has a 1-year low of $7.81 and a 1-year high of $11.46.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Thursday, August 14th. The company reported $0.20 EPS for the quarter, missing the consensus estimate 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 net margin of 3.40% and a return on equity of 19.43%. Amcor’s quarterly revenue was up 43.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 EPS. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. Equities analysts forecast that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Friday, September 5th were paid a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 6.4%. The ex-dividend date was Friday, September 5th. Amcor’s payout ratio is currently 141.67%.

Insider Buying and Selling

In other news, Director Stephen E. Sterrett purchased 10,000 shares of Amcor stock in a transaction on Tuesday, August 19th. The shares were 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 directly owned 10,000 shares in the company, 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 currently owned by company insiders.

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.