Mirae Asset Global Investments Co. Ltd. Has $22.48 Million Stock Position in Amcor PLC $AMCR

Mirae Asset Global Investments Co. Ltd. lifted its position in Amcor PLC (NYSE:AMCR) by 71.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,446,429 shares of the company’s stock after buying an additional 1,019,306 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Amcor were worth $22,483,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Rakuten Securities Inc. lifted its stake in shares of 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 buying an additional 2,996 shares during the last quarter. AdvisorNet Financial Inc raised its stake in Amcor by 839.8% during the 2nd quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company’s stock valued at $28,000 after purchasing an additional 2,704 shares during the last quarter. HM Payson & Co. acquired a new position in Amcor during the 1st quarter valued at $30,000. Brentview Investment Management LLC acquired a new position in Amcor during the 1st quarter valued at $31,000. Finally, Adirondack Trust Co. acquired a new position in Amcor during the 2nd quarter valued at $29,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. UBS Group upgraded shares of Amcor from a “neutral” rating to a “buy” rating in a research note on Thursday, June 26th. Robert W. Baird cut their target price on shares of Amcor from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Friday, August 15th. Jefferies Financial Group assumed coverage on shares of Amcor in a research note on Wednesday, July 2nd. They set a “buy” rating and a $12.00 target price for the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Amcor in a research note on Saturday, September 27th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Amcor in a research note on Friday, September 19th. They set an “overweight” rating and a $10.00 target price for the company. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.21.

Amcor Trading Down 0.8%

Shares of AMCR stock opened at $8.17 on Friday. Amcor PLC has a 52-week low of $7.90 and a 52-week high of $11.46. The stock has a market cap of $11.80 billion, a price-to-earnings ratio of 22.68, a P/E/G ratio of 1.08 and a beta of 0.73. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.71 and a current ratio of 1.21. The firm has a fifty day moving average of $8.67 and a 200-day moving average of $9.11.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Thursday, August 14th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.01). The company had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.18 billion. Amcor had a net margin of 3.40% and a return on equity of 19.43%. Amcor’s quarterly revenue was up 43.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 EPS. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. On average, equities research analysts forecast that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

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

Insider Activity

In other news, Director Stephen E. Sterrett bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average price of $8.55 per share, for a total transaction of $85,500.00. Following the transaction, the director directly owned 10,000 shares of the company’s stock, valued at $85,500. This trade 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 owned by company insiders.

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.