Eminence Capital LP Purchases 643,964 Shares of Amcor PLC $AMCR

Eminence Capital LP raised its position in shares of Amcor PLC (NYSE:AMCR) by 22.4% during the first quarter, HoldingsChannel.com reports. The fund owned 3,520,144 shares of the company’s stock after buying an additional 643,964 shares during the quarter. Eminence Capital LP’s holdings in Amcor were worth $34,145,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of AMCR. AXA S.A. boosted its position in Amcor by 102.2% during the fourth quarter. AXA S.A. now owns 353,594 shares of the company’s stock valued at $3,327,000 after acquiring an additional 178,711 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Amcor by 39.2% during the fourth quarter. BNP Paribas Financial Markets now owns 3,053,774 shares of the company’s stock valued at $28,736,000 after acquiring an additional 860,446 shares during the last quarter. Centiva Capital LP boosted its position in Amcor by 89.0% during the fourth quarter. Centiva Capital LP now owns 180,577 shares of the company’s stock valued at $1,699,000 after acquiring an additional 85,030 shares during the last quarter. Caption Management LLC bought a new stake in Amcor during the fourth quarter valued at $2,060,000. Finally, Crestline Management LP bought a new stake in Amcor during the fourth quarter valued at $1,391,000. Institutional investors own 45.14% of the company’s stock.

Amcor Trading Down 0.9%

AMCR opened at $8.35 on Thursday. 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 PLC has a fifty-two week low of $8.31 and a fifty-two week high of $11.48. The firm has a market capitalization of $12.06 billion, a PE ratio of 23.18, a P/E/G ratio of 1.13 and a beta of 0.72. The company’s 50-day moving average is $9.27 and its 200 day moving average is $9.39.

Amcor (NYSE:AMCR) last posted 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). Amcor had a return on equity of 19.43% and a net margin of 3.40%.The business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same quarter in the prior year, the company earned $0.21 EPS. The company’s revenue was up 43.8% on a year-over-year basis. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. As a group, research analysts predict 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 will be paid on Thursday, September 25th. Shareholders of record on Friday, September 5th will be paid a $0.1275 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.51 annualized dividend and a yield of 6.1%. Amcor’s dividend payout ratio (DPR) is 141.67%.

Wall Street Analyst Weigh In

A number of analysts have commented on AMCR shares. Robert W. Baird cut their price target on shares of Amcor from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Friday, August 15th. UBS Group upgraded shares of Amcor from a “neutral” rating to a “buy” rating in a report on Thursday, June 26th. Wells Fargo & Company upped their price objective on shares of Amcor from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Friday, July 18th. 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 price objective on the stock. Finally, Truist Financial set a $11.00 price objective on shares of Amcor and gave the company a “buy” rating in a report on Friday, July 11th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.42.

Insider Buying and Selling

In other news, Director Stephen E. Sterrett acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was purchased at an average price of $8.55 per share, for a total transaction of $85,500.00. Following the purchase, the director owned 10,000 shares in the company, valued at approximately $85,500. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.60% of the company’s stock.

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.