Amcor (NYSE:AMCR) Coverage Initiated by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Amcor (NYSE:AMCR) in a research note published on Friday, MarketBeat reports. The firm issued an overweight rating and a $10.00 price objective on the stock.

AMCR has been the topic of a number of other research reports. Wells Fargo & Company boosted their price target on shares of Amcor from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, July 18th. Truist Financial set a $11.00 price target on shares of Amcor and gave the stock a “buy” rating in a research report on Friday, July 11th. Jefferies Financial Group began coverage on shares of Amcor in a research report on Wednesday, July 2nd. They issued a “buy” rating and a $12.00 price target on the stock. Robert W. Baird dropped their price target on shares of Amcor from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Friday, August 15th. Finally, The Goldman Sachs Group began coverage on shares of Amcor in a research note on Wednesday, September 10th. They issued a “buy” rating for the company. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.21.

Amcor Stock Down 0.5%

Shares of NYSE AMCR opened at $8.27 on Friday. The company has a market capitalization of $11.95 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 1.07 and a beta of 0.72. Amcor has a 52-week low of $8.16 and a 52-week high of $11.48. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.71 and a current ratio of 1.21. The company’s 50 day moving average price is $8.96 and its 200-day moving average price is $9.23.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Thursday, August 14th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). The firm had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.18 billion. Amcor had a return on equity of 19.43% and a net margin of 3.40%.The firm’s revenue for the quarter was up 43.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 EPS. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. Equities analysts forecast that Amcor will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Friday, September 5th will be given a $0.1275 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.51 annualized dividend and a yield of 6.2%. Amcor’s dividend payout ratio (DPR) is presently 141.67%.

Insider Transactions at Amcor

In other Amcor news, Director Stephen E. Sterrett purchased 10,000 shares of Amcor stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average price of $8.55 per share, with a total value of $85,500.00. Following the transaction, the director owned 10,000 shares in the company, valued at $85,500. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.60% of the company’s stock.

Institutional Trading of Amcor

Several hedge funds have recently bought and sold shares of AMCR. Man Group plc acquired a new stake in Amcor in the 4th quarter valued at $2,462,000. Two Sigma Investments LP acquired a new stake in Amcor in the 4th quarter valued at $9,027,000. Vident Advisory LLC grew its position in Amcor by 3.1% in the 4th quarter. Vident Advisory LLC now owns 146,759 shares of the company’s stock valued at $1,381,000 after purchasing an additional 4,349 shares during the period. Woodline Partners LP acquired a new stake in Amcor in the 4th quarter valued at $817,000. Finally, Voloridge Investment Management LLC acquired a new stake in Amcor in the 4th quarter valued at $4,765,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

About Amcor

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.