82,986 Shares in Amcor PLC $AMCR Purchased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. acquired a new position in Amcor PLC (NYSE:AMCR) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 82,986 shares of the company’s stock, valued at approximately $3,524,000.

Several other institutional investors and hedge funds have also recently modified their holdings of AMCR. Brown Financial Advisors lifted its position in shares of Amcor by 3.9% during the second quarter. Brown Financial Advisors now owns 6,287 shares of the company’s stock worth $273,000 after purchasing an additional 237 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in Amcor by 4.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 6,213 shares of the company’s stock worth $260,000 after buying an additional 244 shares during the period. Flagship Harbor Advisors LLC increased its stake in Amcor by 5.3% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 5,940 shares of the company’s stock worth $249,000 after buying an additional 300 shares during the period. Quadrant Capital Group LLC increased its stake in Amcor by 6.6% during the 3rd quarter. Quadrant Capital Group LLC now owns 5,320 shares of the company’s stock worth $222,000 after buying an additional 328 shares during the period. Finally, Sowell Financial Services LLC lifted its holdings in Amcor by 5.7% during the 3rd quarter. Sowell Financial Services LLC now owns 6,160 shares of the company’s stock worth $258,000 after buying an additional 334 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

More Amcor News

Here are the key news stories impacting Amcor this week:

• Positive Sentiment: Amcor raised its quarterly dividend 1.5%, from $0.65 to $0.66 per share. The annualized payout is $2.64, equivalent to a yield of about 5.7% at the cited share price. Dividend information
• Positive Sentiment: Truist maintained a Buy rating and lifted its price target to $53 from $51, signaling continued confidence in Amcor’s prospects. Truist price-target update
• Positive Sentiment: Amcor reported revenue of $6.13 billion, above the $5.75 billion consensus estimate, and cited higher volumes. Its new lightweight closure and DecoFusion tube award also support its sustainability and product-innovation profile, though these developments may have limited near-term financial impact. Quarterly results Lightweight closure announcement DecoFusion award
• Neutral Sentiment: Amcor filed its quarterly report and confirmed listing compliance; the notice did not indicate a material change to its outlook. Quarterly filing notice
• Negative Sentiment: Quarterly EPS was $0.95, below the $0.96 consensus estimate. Amcor attributed pressure to higher costs and cut its transition-period EPS outlook, raising concerns about near-term earnings even as revenue exceeded expectations. Earnings and outlook report
• Negative Sentiment: Deutsche Bank downgraded AMCR from Buy to Hold, adding to caution around valuation and the near-term outlook. Deutsche Bank rating change

Wall Street Analyst Weigh In

Several equities analysts have commented on AMCR shares. Citigroup reissued a “buy” rating and issued a $52.00 price target (up from $47.00) on shares of Amcor in a research report on Friday, August 14th. Deutsche Bank Aktiengesellschaft lowered Amcor from a “buy” rating to a “hold” rating in a research report on Thursday. Weiss Ratings upgraded Amcor from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 29th. JPMorgan Chase & Co. cut Amcor from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $44.00 to $47.00 in a research note on Monday, August 17th. Finally, Wells Fargo & Company increased their price target on Amcor from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $49.54.

Amcor Stock Down 1.8%

Shares of NYSE:AMCR traded down $0.84 during trading hours on Friday, reaching $44.99. The stock had a trading volume of 4,385,140 shares, compared to its average volume of 3,182,710. Amcor PLC has a 1 year low of $36.25 and a 1 year high of $50.94. The firm’s 50 day moving average is $44.00 and its 200-day moving average is $43.17. The stock has a market capitalization of $20.80 billion, a price-to-earnings ratio of 19.31, a P/E/G ratio of 3.06 and a beta of 0.56. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.76 and a current ratio of 1.25.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($0.01). The firm had revenue of $6.13 billion for the quarter, compared to analysts’ expectations of $5.75 billion. Amcor had a return on equity of 15.92% and a net margin of 4.71%. During the same period last year, the firm posted $0.11 earnings per share. Research analysts predict that Amcor PLC will post 1.83 earnings per share for the current fiscal year.

Amcor Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Shareholders of record on Wednesday, November 25th will be paid a $0.66 dividend. This is a boost from Amcor’s previous quarterly dividend of $0.65. This represents a $2.64 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is Wednesday, November 25th. Amcor’s payout ratio is 110.17%.

About Amcor

Amcor plc (NYSE: AMCR) is a global packaging company that develops and produces packaging solutions for food, beverage, pharmaceutical, medical, personal care, household, and other consumer and industrial products. Its offerings include flexible packaging, rigid containers, closures, bottles, specialty cartons, and related packaging systems designed to protect products, support supply chains, and improve convenience and sustainability.

The company serves customers across North America, Latin America, Europe, Asia-Pacific, and other international markets.