NewEdge Advisors LLC Trims Stock Holdings in Amcor PLC $AMCR

NewEdge Advisors LLC reduced its holdings in shares of Amcor PLC (NYSE:AMCR) by 53.7% in the first quarter, Holdings Channel.com reports. The fund owned 51,480 shares of the company’s stock after selling 59,707 shares during the quarter. NewEdge Advisors LLC’s holdings in Amcor were worth $2,046,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. AdvisorNet Financial Inc bought a new position in Amcor in the 1st quarter valued at $25,000. Western Wealth Management LLC bought a new stake in shares of Amcor during the first quarter worth $27,000. DV Equities LLC bought a new stake in shares of Amcor during the fourth quarter worth $27,000. Larson Financial Group LLC boosted its stake in shares of Amcor by 46.1% during the fourth quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after purchasing an additional 1,257 shares during the period. Finally, N.E.W. Advisory Services LLC boosted its stake in shares of Amcor by 10.1% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after purchasing an additional 373 shares during the period. 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 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.

Amcor Stock Down 0.7%

Shares of Amcor stock opened at $46.04 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.74 and a quick ratio of 0.95. The stock has a market cap of $21.29 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 1.45 and a beta of 0.62. The firm’s 50-day moving average is $43.57 and its two-hundred day moving average is $42.62. Amcor PLC has a 1 year low of $36.25 and a 1 year high of $50.94.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Wednesday, August 12th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.19 by $0.04. Amcor had a net margin of 4.71% and a return on equity of 15.92%. The business had revenue of $6.40 billion during the quarter, compared to analyst estimates of $6.05 billion. During the same quarter in the previous year, the business posted $0.20 EPS. The company’s quarterly revenue was up 25.9% compared to the same quarter last year. As a group, research analysts expect that Amcor PLC will post 4.24 earnings per share for the current fiscal year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Friday, September 4th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Friday, September 4th. Amcor’s dividend payout ratio (DPR) is presently 110.17%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Truist Financial reaffirmed a “buy” rating and issued a $51.00 price target (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Citigroup reiterated a “buy” rating and set a $52.00 price objective (up from $47.00) on shares of Amcor in a report on Friday. UBS Group started coverage on shares of Amcor in a research report on Tuesday. They issued a “buy” rating and a $56.00 price objective for the company. Jefferies Financial Group set a $44.92 target price on shares of Amcor and gave the stock a “hold” rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Amcor in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Amcor currently has a consensus rating of “Moderate Buy” and an average price target of $49.24.

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.