Stoneridge Investment Partners LLC Lowers Stake in Amcor PLC $AMCR

Stoneridge Investment Partners LLC reduced its position in Amcor PLC (NYSE:AMCR) by 58.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,942 shares of the company’s stock after selling 13,995 shares during the quarter. Stoneridge Investment Partners LLC’s holdings in Amcor were worth $446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp raised its position in shares of Amcor by 1.7% during the 4th quarter. State Street Corp now owns 141,509,581 shares of the company’s stock valued at $1,180,190,000 after purchasing an additional 2,432,340 shares during the period. M&G PLC increased its stake in Amcor by 6.1% in the 4th quarter. M&G PLC now owns 114,989,595 shares of the company’s stock worth $919,917,000 after buying an additional 6,655,611 shares in the last quarter. Vanguard Group Inc. increased its stake in Amcor by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock worth $945,222,000 after buying an additional 1,845,627 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Amcor by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 84,095,399 shares of the company’s stock worth $701,356,000 after buying an additional 2,036,667 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Amcor by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 64,202,708 shares of the company’s stock valued at $533,487,000 after acquiring an additional 262,418 shares during the period. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor News Summary

Here are the key news stories impacting Amcor this week:

• Positive Sentiment: Amcor received two AmeriStar packaging awards, highlighting product innovation and design capabilities. The recognition is strategically positive, although it is unlikely to materially affect near-term earnings. Amcor Garners Two AmeriStar Awards
• Positive Sentiment: Management outlined a transition-period adjusted EPS range of $1.80 to $1.90 and is targeting $650 million in synergies over three years. Successful execution could improve margins, cash flow and earnings visibility. Amcor outlines transition-period EPS range and synergies
• Positive Sentiment: Amcor declared a quarterly dividend of $0.65 per share, equivalent to approximately $2.60 annually and a yield near 5.6%. The payout supports the stock’s appeal to income-focused investors, although the ex-dividend date is September 4.
• Positive Sentiment: The latest quarterly results exceeded expectations, with EPS of $1.23 versus the $1.19 consensus and revenue of $6.40 billion versus $6.05 billion expected. Revenue increased 25.9% year over year, providing fundamental support for the shares.
• Neutral Sentiment: RBC Capital assigned a “Hold” rating, while UBS began coverage; neither development signals a strong change in institutional sentiment. RBC Capital gives Amcor a Hold rating
• Negative Sentiment: Wells Fargo raised its price target only to $44 from $43 while maintaining an “Equal Weight” rating. The new target remains below the recent $46.04 reference price, suggesting limited upside and potentially weighing on sentiment.

Amcor Stock Down 0.7%

NYSE AMCR opened at $46.04 on Friday. The stock has a 50 day moving average price of $43.57 and a 200-day moving average price of $42.62. Amcor PLC has a one year low of $36.25 and a one year high of $50.94. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.95 and a current ratio of 0.74. The company has a market capitalization of $21.29 billion, a P/E ratio of 19.51, a P/E/G ratio of 1.44 and a beta of 0.62.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.04. The company had revenue of $6.40 billion for the quarter, compared to analysts’ expectations of $6.05 billion. Amcor had a net margin of 4.71% and a return on equity of 15.92%. Amcor’s quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.20 earnings per share. As a group, equities analysts predict that Amcor PLC will post 4.24 EPS for the current fiscal year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Friday, September 4th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend is Friday, September 4th. Amcor’s dividend payout ratio (DPR) is presently 110.17%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Citigroup restated a “buy” rating and issued a $52.00 price objective (up from $47.00) on shares of Amcor in a research report on Friday. Wells Fargo & Company increased their target price on Amcor from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Friday. BMO Capital Markets initiated coverage on Amcor in a research note on Thursday, July 16th. They set a “market perform” rating and a $47.00 target price on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Amcor in a report on Friday, August 7th. Finally, Truist Financial reissued a “buy” rating and issued a $51.00 price target (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.24.

Amcor Company Profile

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.