Truist Financial Corp Increases Stake in Amcor PLC $AMCR

Truist Financial Corp boosted its holdings in shares of Amcor PLC (NYSE:AMCR) by 12.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 581,921 shares of the company’s stock after buying an additional 62,954 shares during the quarter. Truist Financial Corp’s holdings in Amcor were worth $5,348,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Greenleaf Trust raised its position in Amcor by 151.8% during the 2nd quarter. Greenleaf Trust now owns 34,176 shares of the company’s stock worth $314,000 after buying an additional 20,602 shares during the last quarter. Poinciana Advisors Group LLC purchased a new position in Amcor during the 2nd quarter worth approximately $94,000. Northwest Wealth Management LLC purchased a new position in Amcor during the 2nd quarter worth approximately $133,000. Raleigh Capital Management Inc. raised its position in Amcor by 2.6% during the 2nd quarter. Raleigh Capital Management Inc. now owns 63,652 shares of the company’s stock worth $585,000 after buying an additional 1,588 shares during the last quarter. Finally, HB Wealth Management LLC raised its position in Amcor by 112.3% during the 2nd quarter. HB Wealth Management LLC now owns 185,115 shares of the company’s stock worth $1,701,000 after buying an additional 97,903 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Amcor

In related news, Director Stephen E. Sterrett purchased 10,000 shares of Amcor stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average price of $8.55 per share, for a total transaction of $85,500.00. Following the acquisition, the director directly owned 10,000 shares in the company, valued at approximately $85,500. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Amcor Trading Down 1.4%

Shares of AMCR opened at $7.96 on Wednesday. Amcor PLC has a 52-week low of $7.90 and a 52-week high of $11.46. The company has a quick ratio of 0.71, a current ratio of 1.21 and a debt-to-equity ratio of 1.18. The firm’s fifty day moving average is $8.60 and its two-hundred day moving average is $9.08. The stock has a market cap of $18.34 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 1.06 and a beta of 0.73.

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

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Friday, September 5th were issued a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 6.4%. The ex-dividend date was Friday, September 5th. Amcor’s payout ratio is currently 141.67%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on AMCR shares. JPMorgan Chase & Co. started coverage on shares of Amcor in a research note on Friday, September 19th. They set an “overweight” rating and a $10.00 price objective on the stock. Wells Fargo & Company raised their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, July 18th. Truist Financial set a $11.00 price objective on shares of Amcor and gave the stock a “buy” rating in a research note on Friday, July 11th. The Goldman Sachs Group started coverage on shares of Amcor in a research note on Wednesday, September 10th. They set a “buy” rating on the stock. Finally, UBS Group raised shares of Amcor from a “neutral” rating to a “buy” rating in a research note on Thursday, June 26th. Nine equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Amcor has an average rating of “Moderate Buy” and a consensus target price of $11.21.

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.