PCJ Investment Counsel Ltd. Acquires 112,220 Shares of Amcor PLC $AMCR

PCJ Investment Counsel Ltd. increased its holdings in shares of Amcor PLC (NYSE:AMCR) by 16.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 788,145 shares of the company’s stock after acquiring an additional 112,220 shares during the quarter. Amcor comprises about 1.8% of PCJ Investment Counsel Ltd.’s holdings, making the stock its 16th largest position. PCJ Investment Counsel Ltd.’s holdings in Amcor were worth $6,447,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp raised its stake 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 valued at $1,191,961,000 after acquiring an additional 37,982,310 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Amcor by 1.1% in the third quarter. Vanguard Group Inc. now owns 111,490,330 shares of the company’s stock worth $911,991,000 after purchasing an additional 1,262,294 shares during the last quarter. M&G PLC grew 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 worth $866,672,000 after purchasing an additional 22,737,979 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in 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 purchasing an additional 30,938,660 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Amcor by 55.3% in the second quarter. Geode Capital Management LLC now owns 58,845,923 shares of the company’s stock valued at $538,551,000 after purchasing an additional 20,946,520 shares during the period. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Trading Up 0.8%

AMCR stock traded up $0.32 during midday trading on Friday, hitting $40.65. The stock had a trading volume of 672,526 shares, compared to its average volume of 5,851,833. The company has a current ratio of 1.30, a quick ratio of 0.77 and a debt-to-equity ratio of 1.26. The firm has a market cap of $18.78 billion, a P/E ratio of 26.61, a price-to-earnings-growth ratio of 0.99 and a beta of 0.65. The business has a fifty day moving average price of $45.51 and a two-hundred day moving average price of $42.80. Amcor PLC has a 1-year low of $38.33 and a 1-year high of $50.94.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. Amcor had a return on equity of 15.57% and a net margin of 3.04%.The firm had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $5.53 billion. During the same period last year, the business posted $0.80 EPS. The business’s revenue was up 68.1% compared to the same quarter last year. Amcor has set its FY 2026 guidance at 4.000-4.150 EPS. On average, 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 will be paid on Tuesday, March 17th. Investors of record on Wednesday, February 25th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $2.60 annualized dividend and a yield of 6.4%. Amcor’s dividend payout ratio (DPR) is currently 169.93%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Morgan Stanley downgraded Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 target price on the stock. in a report on Wednesday, January 28th. Wells Fargo & Company increased their price target on Amcor from $9.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Citigroup restated a “buy” rating on shares of Amcor in a research report on Thursday, February 12th. Truist Financial lifted their price objective on Amcor from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Finally, Robert W. Baird set a $54.00 target price on Amcor in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Amcor currently has an average rating of “Moderate Buy” and an average target price of $52.88.

Amcor Company Profile

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.