Amcor PLC $AMCR Shares Purchased by Gradient Investments LLC

Gradient Investments LLC increased its holdings in shares of Amcor PLC (NYSE:AMCR) by 56.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 196,775 shares of the company’s stock after purchasing an additional 71,386 shares during the period. Gradient Investments LLC’s holdings in Amcor were worth $1,641,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Amcor by 61.8% in the 2nd quarter. Vanguard Group Inc. now owns 110,228,036 shares of the company’s stock valued at $1,012,996,000 after buying an additional 42,122,135 shares during the period. State Street Corp increased its position in shares of Amcor by 41.4% during the second quarter. State Street Corp now owns 129,701,986 shares of the company’s stock worth $1,191,961,000 after acquiring an additional 37,982,310 shares during the period. Norges Bank purchased a new stake in shares of Amcor during the second quarter worth $328,839,000. Charles Schwab Investment Management Inc. raised its stake in shares of Amcor by 62.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 80,770,303 shares of the company’s stock valued at $742,279,000 after acquiring an additional 30,938,660 shares in the last quarter. Finally, M&G PLC raised its stake in shares of Amcor by 26.6% in the third quarter. M&G PLC now owns 108,333,984 shares of the company’s stock valued at $866,672,000 after acquiring an additional 22,737,979 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Stock Performance

Shares of AMCR stock opened at $39.38 on Tuesday. The company has a market cap of $18.20 billion, a P/E ratio of 25.74, a PEG ratio of 0.89 and a beta of 0.65. The firm has a fifty day moving average price of $45.10 and a 200 day moving average price of $42.67. The company has a current ratio of 1.30, a quick ratio of 0.77 and a debt-to-equity ratio of 1.26. Amcor PLC has a 12 month low of $38.02 and a 12 month high of $50.94.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. The company had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $5.53 billion. Amcor had a return on equity of 15.57% and a net margin of 3.04%.Amcor’s quarterly revenue was up 68.1% on a year-over-year basis. During the same period last year, the firm earned $0.80 earnings per share. Amcor has set its FY 2026 guidance at 4.000-4.150 EPS. Sell-side analysts predict that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 17th. Stockholders of record on Wednesday, February 25th were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 6.6%. The ex-dividend date of this dividend was Wednesday, February 25th. Amcor’s dividend payout ratio (DPR) is 169.93%.

Analysts Set New Price Targets

AMCR has been the subject of several analyst reports. Wells Fargo & Company cut Amcor from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $48.00 to $43.00 in a research note on Friday. Morgan Stanley lowered Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price target on the stock. in a research report on Wednesday, January 28th. Citigroup reiterated a “buy” rating on shares of Amcor in a research note on Thursday, February 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Amcor in a research report on Wednesday, January 21st. Finally, Truist Financial upped their target price on shares of Amcor from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.25.

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.