Wedge Capital Management L L P NC Has $5.93 Million Stock Position in Amcor PLC $AMCR

Wedge Capital Management L L P NC lowered its holdings in shares of Amcor PLC (NYSE:AMCR) by 8.7% during the fourth quarter, Holdings Channel reports. The firm owned 711,351 shares of the company’s stock after selling 67,889 shares during the period. Wedge Capital Management L L P NC’s holdings in Amcor were worth $5,933,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Pallas Capital Advisors LLC increased its position in Amcor by 8.1% during the fourth quarter. Pallas Capital Advisors LLC now owns 52,970 shares of the company’s stock worth $442,000 after buying an additional 3,962 shares during the last quarter. Dakota Wealth Management lifted its position in shares of Amcor by 74.6% in the fourth quarter. Dakota Wealth Management now owns 345,449 shares of the company’s stock worth $2,881,000 after buying an additional 147,639 shares during the last quarter. Global X Japan Co. Ltd. lifted its position in shares of Amcor by 13.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 72,140 shares of the company’s stock worth $602,000 after buying an additional 8,498 shares during the last quarter. CoreCap Advisors LLC boosted its stake in shares of Amcor by 54.4% during the 4th quarter. CoreCap Advisors LLC now owns 6,785 shares of the company’s stock worth $57,000 after acquiring an additional 2,390 shares in the last quarter. Finally, SeaCrest Wealth Management LLC boosted its stake in shares of Amcor by 42.1% during the 4th quarter. SeaCrest Wealth Management LLC now owns 14,419 shares of the company’s stock worth $121,000 after acquiring an additional 4,271 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Trading Down 3.1%

Shares of NYSE:AMCR opened at $38.64 on Friday. The company has a market cap of $17.85 billion, a P/E ratio of 25.25, a P/E/G ratio of 0.90 and a beta of 0.65. The stock’s 50-day moving average is $44.80 and its 200-day moving average is $42.62. Amcor PLC has a 52-week low of $38.02 and a 52-week high of $50.94. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.77 and a current ratio of 1.30.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Tuesday, February 3rd. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.53 billion. During the same quarter in the previous year, the firm earned $0.80 EPS. The firm’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. Equities research analysts predict that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Wednesday, February 25th were given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend was Wednesday, February 25th. Amcor’s payout ratio is currently 169.93%.

Analyst Ratings Changes

A number of research analysts recently weighed in on AMCR shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Amcor in a research note on Wednesday, January 21st. Wells Fargo & Company cut Amcor from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $48.00 to $43.00 in a research report on Friday, March 20th. Citigroup reiterated a “buy” rating on shares of Amcor in a report on Thursday, February 12th. Truist Financial lifted their price target on shares of Amcor from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Finally, Robert W. Baird set a $54.00 price objective on shares of Amcor in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.