Stoneridge Investment Partners LLC trimmed its position in shares of Amcor PLC (NYSE:AMCR – Free Report) by 58.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund 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 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Investors Research Corp raised its holdings in Amcor by 32,298.9% in the second quarter. Investors Research Corp now owns 28,187 shares of the company’s stock worth $1,222,000 after buying an additional 28,100 shares during the last quarter. Fiduciary Financial Group LLC grew its holdings in shares of Amcor by 8.4% during the second quarter. Fiduciary Financial Group LLC now owns 7,863 shares of the company’s stock valued at $341,000 after buying an additional 612 shares during the last quarter. First Bank & Trust increased its position in shares of Amcor by 10.7% during the second quarter. First Bank & Trust now owns 36,514 shares of the company’s stock valued at $1,583,000 after acquiring an additional 3,541 shares in the last quarter. Gradient Investments LLC increased its position in shares of Amcor by 14.4% during the second quarter. Gradient Investments LLC now owns 130,897 shares of the company’s stock valued at $5,674,000 after acquiring an additional 16,497 shares in the last quarter. Finally, FNY Investment Advisers LLC raised its holdings in Amcor by 16.1% in the 2nd quarter. FNY Investment Advisers LLC now owns 3,600 shares of the company’s stock worth $156,000 after acquiring an additional 500 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.
Amcor Stock Down 0.7%
AMCR opened at $46.04 on Friday. The firm’s 50 day simple moving average is $43.57 and its two-hundred day simple moving average is $42.62. The company has a market capitalization of $21.29 billion, a PE ratio of 19.51, a PEG ratio of 1.44 and a beta of 0.62. Amcor PLC has a 1-year low of $36.25 and a 1-year high of $50.94. The company has a current ratio of 0.74, a quick ratio of 0.95 and a debt-to-equity ratio of 1.17.
Amcor Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Friday, September 4th will be given a $0.65 dividend. The ex-dividend date is Friday, September 4th. This represents a $2.60 dividend on an annualized basis and a yield of 5.6%. Amcor’s dividend payout ratio is presently 110.17%.
Analyst Upgrades and Downgrades
AMCR has been the topic of several analyst reports. Bank of America upped their price objective on Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Amcor in a report on Friday, August 7th. Wells Fargo & Company boosted their price target on Amcor from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Friday. JPMorgan Chase & Co. lowered their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Finally, Jefferies Financial Group set a $44.92 price objective on Amcor and gave the company a “hold” rating in a research report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $49.24.
Get Our Latest Stock Report on Amcor
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.
About Amcor
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.
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