W.G. Shaheen & Associates DBA Whitney & Co Invests $114,000 in Amcor PLC $AMCR

W.G. Shaheen & Associates DBA Whitney & Co bought a new position in Amcor PLC (NYSE:AMCR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 12,421 shares of the company’s stock, valued at approximately $114,000.

Several other hedge funds have also recently modified their holdings of AMCR. Vanguard Group Inc. raised its stake in Amcor by 15.5% during 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 in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Amcor by 8.2% during 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 purchasing an additional 3,778,714 shares in the last quarter. Invesco Ltd. raised its stake in Amcor by 9.5% during the first quarter. Invesco Ltd. now owns 33,314,287 shares of the company’s stock valued at $323,149,000 after purchasing an additional 2,889,166 shares in the last quarter. Wellington Management Group LLP raised its stake in Amcor by 9.8% during the first quarter. Wellington Management Group LLP now owns 30,707,205 shares of the company’s stock valued at $297,860,000 after purchasing an additional 2,735,320 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Amcor by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 19,191,544 shares of the company’s stock valued at $186,142,000 after purchasing an additional 490,827 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Trading Up 0.7%

AMCR stock opened at $7.91 on Monday. The company has a quick ratio of 0.71, a current ratio of 1.21 and a debt-to-equity ratio of 1.18. Amcor PLC has a twelve month low of $7.66 and a twelve month high of $11.24. The stock has a market capitalization of $18.22 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 1.14 and a beta of 0.73. The firm’s fifty day simple moving average is $8.20 and its two-hundred day simple moving average is $8.92.

Amcor (NYSE:AMCR) last posted its quarterly earnings data 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 net margin of 3.40% and a return on equity of 19.43%. The firm had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.18 billion. During the same quarter last year, the firm 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, analysts anticipate that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Friday, September 5th were issued a $0.1275 dividend. The ex-dividend date was Friday, September 5th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.5%. Amcor’s dividend payout ratio is presently 141.67%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AMCR. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Amcor in a research note on Wednesday, October 8th. Robert W. Baird decreased their price target 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. Wells Fargo & Company decreased their price target on shares of Amcor from $11.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 15th. Truist Financial set a $11.00 price target on shares of Amcor and gave the company a “buy” rating in a research note on Friday, July 11th. Finally, Stifel Nicolaus raised shares of Amcor from a “hold” rating to a “buy” rating and set a $10.20 price target on the stock in a research note on Friday, October 10th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $10.84.

Insider Activity at Amcor

In related news, Director Stephen E. Sterrett purchased 10,000 shares of the business’s stock in a transaction dated 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 acquisition, the director owned 10,000 shares in the company, valued at approximately $85,500. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.32% 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.