Crossmark Global Holdings Inc. Sells 41,095 Shares of Amcor PLC $AMCR

Crossmark Global Holdings Inc. lowered its position in Amcor PLC (NYSE:AMCR) by 36.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 71,274 shares of the company’s stock after selling 41,095 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Amcor were worth $583,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Amcor by 61.8% in the second quarter. Vanguard Group Inc. now owns 110,228,036 shares of the company’s stock worth $1,012,996,000 after acquiring an additional 42,122,135 shares during the period. State Street Corp lifted its holdings in Amcor by 41.4% during the 2nd quarter. State Street Corp now owns 129,701,986 shares of the company’s stock worth $1,191,961,000 after purchasing an additional 37,982,310 shares in the last quarter. Norges Bank purchased a new stake in Amcor during the 2nd quarter worth about $328,839,000. Charles Schwab Investment Management Inc. boosted its stake in Amcor by 62.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 80,770,303 shares of the company’s stock worth $742,279,000 after purchasing an additional 30,938,660 shares during the period. Finally, M&G PLC boosted its stake in Amcor by 26.6% in the 3rd 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 period. 45.14% of the stock is currently owned by institutional investors.

Amcor Price Performance

Shares of NYSE AMCR traded up $0.42 during mid-day trading on Friday, reaching $40.75. 544,388 shares of the company were exchanged, compared to its average volume of 5,850,542. Amcor PLC has a 52 week low of $38.33 and a 52 week high of $50.94. The company’s 50 day moving average price is $45.51 and its 200 day moving average price is $42.80. The stock has a market capitalization of $18.83 billion, a PE ratio of 26.50, a PEG ratio of 0.99 and a beta of 0.65. The company has a quick ratio of 0.77, a current ratio of 1.30 and a debt-to-equity ratio of 1.26.

Amcor (NYSE:AMCR) last released its earnings results on Tuesday, February 3rd. The company reported $0.86 EPS for the quarter, beating 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 business had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $5.53 billion. During the same quarter in the prior year, the firm earned $0.80 earnings per share. The firm’s revenue was up 68.1% on a year-over-year basis. Amcor has set its FY 2026 guidance at 4.000-4.150 EPS. Sell-side analysts forecast that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 17th. Investors of record on Wednesday, February 25th will be given a $0.65 dividend. The ex-dividend date is Wednesday, February 25th. This represents a $2.60 dividend on an annualized basis and a yield of 6.4%. Amcor’s payout ratio is presently 169.93%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AMCR shares. Wells Fargo & Company upped their price target on Amcor from $9.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Robert W. Baird set a $54.00 price objective on shares of Amcor in a research note on Wednesday, February 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Amcor in a research note on Wednesday, January 21st. Morgan Stanley downgraded shares of Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price target for the company. in a report on Wednesday, January 28th. Finally, Citigroup restated a “buy” rating on shares of Amcor in a research report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Amcor currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.88.

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.