Code Waechter LLC Acquires 7,823 Shares of Amcor PLC $AMCR

Code Waechter LLC grew its holdings in shares of Amcor PLC (NYSE:AMCR) by 42.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,392 shares of the company’s stock after purchasing an additional 7,823 shares during the quarter. Code Waechter LLC’s holdings in Amcor were worth $243,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMCR. State of Alaska Department of Revenue raised its stake in shares of Amcor by 51.6% during the second quarter. State of Alaska Department of Revenue now owns 464,293 shares of the company’s stock worth $4,266,000 after acquiring an additional 158,082 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Amcor by 71.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,446,429 shares of the company’s stock worth $22,483,000 after acquiring an additional 1,019,306 shares in the last quarter. Sound Income Strategies LLC raised its stake in shares of Amcor by 54,855.7% during the second quarter. Sound Income Strategies LLC now owns 605,062 shares of the company’s stock worth $5,561,000 after acquiring an additional 603,961 shares in the last quarter. Focus Partners Advisor Solutions LLC purchased a new position in shares of Amcor during the second quarter worth approximately $463,000. Finally, OneDigital Investment Advisors LLC purchased a new position in shares of Amcor during the first quarter worth approximately $121,000. Institutional investors own 45.14% of the company’s stock.

Amcor Trading Down 0.6%

Shares of AMCR opened at $7.86 on Tuesday. 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 1 year low of $7.66 and a 1 year high of $10.70. The company has a 50 day simple moving average of $8.19 and a two-hundred day simple moving average of $8.91. The firm has a market cap of $18.11 billion, a P/E ratio of 21.82, a price-to-earnings-growth ratio of 1.14 and a beta of 0.73.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Thursday, August 14th. The company reported $0.20 earnings per share (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 analysts’ expectations of $5.18 billion. During the same period last year, the business earned $0.21 earnings per share. The company’s quarterly 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. On average, equities analysts expect that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

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

Insider Transactions at Amcor

In related news, Director Stephen E. Sterrett acquired 10,000 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was acquired at an average cost of $8.55 per share, with a total value of $85,500.00. Following the acquisition, the director directly owned 10,000 shares in the company, valued at $85,500. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AMCR. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Amcor in a research note on Wednesday, October 8th. Wells Fargo & Company decreased their target price 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. Stifel Nicolaus raised shares of Amcor from a “hold” rating to a “buy” rating and set a $10.20 target price on the stock in a research note on Friday, October 10th. Truist Financial set a $11.00 target price on shares of Amcor and gave the stock a “buy” rating in a research note on Friday, July 11th. Finally, The Goldman Sachs Group began coverage on shares of Amcor in a report on Wednesday, September 10th. They issued a “buy” rating on the stock. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Amcor presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.84.

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.