Sound Income Strategies LLC Boosts Stock Position in Amcor PLC $AMCR

Sound Income Strategies LLC boosted its holdings in Amcor PLC (NYSE:AMCR) by 54,855.7% during the 2nd quarter, Holdings Channel reports. The firm owned 605,062 shares of the company’s stock after acquiring an additional 603,961 shares during the period. Sound Income Strategies LLC’s holdings in Amcor were worth $5,561,000 as of its most recent filing with the Securities and Exchange Commission.

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

Amcor Stock Performance

NYSE:AMCR opened at $8.06 on Monday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.71 and a current ratio of 1.21. Amcor PLC has a 52-week low of $7.90 and a 52-week high of $11.48. The firm has a market cap of $11.65 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 1.05 and a beta of 0.72. The business’s fifty day moving average is $8.82 and its 200 day moving average is $9.15.

Amcor (NYSE:AMCR) last released 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 the consensus estimate of $5.18 billion. During the same quarter in the previous year, the firm posted $0.21 earnings per share. The business’s revenue for the quarter was up 43.8% compared to the same quarter last year. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. Research analysts predict that Amcor PLC will post 0.74 EPS for the current 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 6.3%. The ex-dividend date was Friday, September 5th. Amcor’s payout ratio is presently 141.67%.

Insider Activity

In related news, Director Stephen E. Sterrett acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average cost 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 $85,500. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AMCR. Jefferies Financial Group began coverage on Amcor in a research report on Wednesday, July 2nd. They set a “buy” rating and a $12.00 price target on the stock. JPMorgan Chase & Co. began coverage on Amcor in a research report on Friday, September 19th. They set an “overweight” rating and a $10.00 price target on the stock. Truist Financial set a $11.00 price target on Amcor and gave the company a “buy” rating in a research report on Friday, July 11th. The Goldman Sachs Group began coverage on Amcor in a research report on Wednesday, September 10th. They set a “buy” rating on the stock. Finally, Royal Bank Of Canada began coverage on Amcor in a research report on Monday, September 22nd. They set a “sector perform” rating on the stock. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $11.21.

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.