14,761 Shares in Amcor PLC $AMCR Purchased by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. acquired a new position in shares of Amcor PLC (NYSE:AMCR) during the 2nd quarter, HoldingsChannel reports. The firm acquired 14,761 shares of the company’s stock, valued at approximately $136,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rakuten Securities Inc. raised its stake in Amcor by 18,725.0% during the first quarter. Rakuten Securities Inc. now owns 3,012 shares of the company’s stock worth $29,000 after acquiring an additional 2,996 shares during the period. AdvisorNet Financial Inc raised its stake in Amcor by 839.8% during the second quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company’s stock worth $28,000 after acquiring an additional 2,704 shares during the period. HM Payson & Co. acquired a new stake in Amcor during the first quarter worth about $30,000. Brentview Investment Management LLC acquired a new stake in Amcor during the first quarter worth about $31,000. Finally, Adirondack Trust Co. acquired a new stake in Amcor during the second quarter worth about $29,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Robert W. Baird dropped their price objective 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. JPMorgan Chase & Co. initiated coverage on shares of Amcor in a research note on Friday, September 19th. They set an “overweight” rating and a $10.00 price objective on the stock. Truist Financial set a $11.00 target price on shares of Amcor and gave the stock a “buy” rating in a research report on Friday, July 11th. Royal Bank Of Canada initiated coverage on shares of Amcor in a research report on Monday, September 22nd. They issued a “sector perform” rating for the company. Finally, The Goldman Sachs Group initiated coverage on shares of Amcor in a research report on Wednesday, September 10th. They issued a “buy” rating for the company. Nine equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $11.21.

Insider Activity at Amcor

In related news, Director Stephen E. Sterrett acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average price of $8.55 per share, for a total transaction of $85,500.00. Following the completion of the purchase, the director directly owned 10,000 shares of the company’s stock, valued at $85,500. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.32% of the stock is owned by corporate insiders.

Amcor Price Performance

NYSE AMCR opened at $8.17 on Friday. Amcor PLC has a 12 month low of $7.90 and a 12 month 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. The firm has a market capitalization of $11.80 billion, a PE ratio of 22.68, a P/E/G ratio of 1.07 and a beta of 0.73. The company’s 50 day simple moving average is $8.67 and its 200 day simple moving average is $9.10.

Amcor (NYSE:AMCR) last posted 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). Amcor had a net margin of 3.40% and a return on equity of 19.43%. The company had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.18 billion. During the same quarter in the prior year, the business earned $0.21 EPS. Amcor’s revenue was up 43.8% compared to the same quarter last year. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. As a group, equities research analysts forecast that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Friday, September 5th were paid a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date was Friday, September 5th. Amcor’s dividend payout ratio (DPR) is currently 141.67%.

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.