New York Life Investment Management LLC Increases Stock Position in Amcor PLC $AMCR

New York Life Investment Management LLC boosted its stake in Amcor PLC (NYSE:AMCR) by 60.1% during the second quarter, HoldingsChannel reports. The firm owned 311,133 shares of the company’s stock after buying an additional 116,805 shares during the period. New York Life Investment Management LLC’s holdings in Amcor were worth $2,859,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in 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 in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of 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 in the last quarter. Invesco Ltd. raised its stake in shares of 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 in the last quarter. Wellington Management Group LLP raised its stake in shares of Amcor by 9.8% during the first quarter. Wellington Management Group LLP now owns 30,707,205 shares of the company’s stock worth $297,860,000 after acquiring an additional 2,735,320 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Amcor by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 19,191,544 shares of the company’s stock worth $186,142,000 after acquiring an additional 490,827 shares in the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Amcor in a research note on Wednesday, October 8th. Wells Fargo & Company decreased their price target 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. Robert W. Baird decreased their price target on shares of Amcor from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Friday, August 15th. Stifel Nicolaus raised shares of Amcor from a “hold” rating to a “buy” rating and set a $10.20 price target on the stock in a research note on Friday, October 10th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Amcor in a research note on Friday, September 19th. They set an “overweight” rating and a $10.00 price target on the stock. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Amcor currently has an average rating of “Moderate Buy” and an average target price of $10.84.

Insiders Place Their Bets

In related news, Director Stephen E. Sterrett purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average price 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 approximately $85,500. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is currently owned by company insiders.

Amcor Stock Down 2.1%

Shares of NYSE AMCR opened at $7.84 on Friday. The company has a quick ratio of 0.71, a current ratio of 1.21 and a debt-to-equity ratio of 1.18. Amcor PLC has a 52 week low of $7.81 and a 52 week high of $11.24. The firm’s fifty day moving average is $8.22 and its 200 day moving average is $8.93. The company has a market cap of $18.06 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 1.14 and a beta of 0.73.

Amcor (NYSE:AMCR) last issued its 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). Amcor had a return on equity of 19.43% and a net margin of 3.40%.The firm had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $5.18 billion. During the same period in the previous year, the firm earned $0.21 earnings per share. The firm’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 research analysts expect that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Friday, September 5th were issued a $0.1275 dividend. The ex-dividend date was Friday, September 5th. This represents a $0.51 annualized dividend and a yield of 6.5%. 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.