Amcor PLC $AMCR Shares Sold by Whittier Trust Co.

Whittier Trust Co. decreased its stake in Amcor PLC (NYSE:AMCR) by 19.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,640 shares of the company’s stock after selling 6,489 shares during the period. Whittier Trust Co.’s holdings in Amcor were worth $245,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AMCR. Vanguard Group Inc. lifted its stake in shares of Amcor by 15.5% in 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 during the period. Allspring Global Investments Holdings LLC raised its position in Amcor by 4,928.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,732,524 shares of the company’s stock worth $44,817,000 after acquiring an additional 4,638,412 shares during the last quarter. Nuveen LLC acquired a new position in Amcor during the first quarter worth about $37,522,000. Charles Schwab Investment Management Inc. raised its position 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 worth $483,367,000 after acquiring an additional 3,778,714 shares during the last quarter. Finally, Invesco Ltd. raised its position in Amcor by 9.5% during the first quarter. Invesco Ltd. now owns 33,314,287 shares of the company’s stock worth $323,149,000 after acquiring an additional 2,889,166 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Insider Activity at Amcor

In other news, Director Stephen E. Sterrett purchased 10,000 shares of the stock in a transaction dated Tuesday, August 19th. The stock was acquired 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 directly owned 10,000 shares in the company, valued at $85,500. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AMCR has been the subject of a number of research reports. Stifel Nicolaus upgraded shares of Amcor from a “hold” rating to a “buy” rating and set a $10.20 target price for the company in a research report on Friday, October 10th. Royal Bank Of Canada initiated coverage on shares of Amcor in a research report on Monday, September 22nd. They set a “sector perform” rating for the company. UBS Group upgraded shares of Amcor from a “neutral” rating to a “buy” rating in a research report on Thursday, June 26th. Truist Financial set a $11.00 target price on shares of Amcor and gave the stock a “buy” rating in a research report on Friday, July 11th. Finally, Wells Fargo & Company cut their target price on shares of Amcor from $11.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, October 15th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.84.

Amcor Stock Performance

Shares of NYSE AMCR opened at $8.24 on Friday. The company has a market cap of $18.98 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 1.16 and a beta of 0.73. Amcor PLC has a 12 month low of $7.81 and a 12 month high of $11.24. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.21 and a quick ratio of 0.71. The company has a 50-day simple moving average of $8.27 and a 200-day simple moving average of $8.96.

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

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Friday, September 5th were issued a dividend of $0.1275 per share. The ex-dividend date was Friday, September 5th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.2%. Amcor’s payout ratio is 141.67%.

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.