Amcor PLC $AMCR Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH lowered its holdings in Amcor PLC (NYSE:AMCR) by 13.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 88,545 shares of the company’s stock after selling 13,440 shares during the period. Allianz Asset Management GmbH’s holdings in Amcor were worth $814,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. AdvisorNet Financial Inc grew its position in shares of Amcor by 839.8% during the second quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company’s stock worth $28,000 after buying an additional 2,704 shares in the last quarter. HM Payson & Co. acquired a new position in Amcor during the 1st quarter worth approximately $30,000. Brentview Investment Management LLC acquired a new position in Amcor during the 1st quarter worth approximately $31,000. Adirondack Trust Co. acquired a new position in Amcor during the 2nd quarter worth approximately $29,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new position in Amcor during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Insiders Place Their Bets

In other news, Director Stephen E. Sterrett acquired 10,000 shares of Amcor stock in a transaction on Tuesday, August 19th. The stock was bought at an average price of $8.55 per share, for a total transaction of $85,500.00. Following the completion of the purchase, the director owned 10,000 shares in the company, valued at $85,500. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

AMCR has been the subject of several analyst reports. Wells Fargo & Company lowered their price target on shares of Amcor from $11.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday, October 15th. Stifel Nicolaus upgraded shares of Amcor from a “hold” rating to a “buy” rating and set a $10.20 price target for the company in a report on Friday, October 10th. JPMorgan Chase & Co. initiated coverage on shares of Amcor in a report on Friday, September 19th. They set an “overweight” rating and a $10.00 price target for the company. Jefferies Financial Group initiated coverage on shares of Amcor in a report on Wednesday, July 2nd. They set a “buy” rating and a $12.00 price target for the company. Finally, Royal Bank Of Canada initiated coverage on shares of Amcor in a report on Monday, September 22nd. They set a “sector perform” rating for the company. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Amcor currently has an average rating of “Moderate Buy” and an average price target of $10.84.

Amcor Stock Down 1.0%

Shares of NYSE:AMCR opened at $8.15 on Monday. The company has a market capitalization of $18.78 billion, a PE ratio of 22.63, a P/E/G ratio of 1.16 and a beta of 0.73. The company has a current ratio of 1.21, a quick ratio of 0.71 and a debt-to-equity ratio of 1.18. Amcor PLC has a twelve month low of $7.81 and a twelve month high of $11.24. The firm has a 50 day simple moving average of $8.25 and a 200-day simple moving average of $8.96.

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

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Friday, September 5th were paid a $0.1275 dividend. The ex-dividend date was Friday, September 5th. This represents a $0.51 dividend on an annualized basis and a yield of 6.3%. Amcor’s payout ratio is currently 141.67%.

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.