1,410,993 Shares in Amcor PLC $AMCR Acquired by CIBC Bancorp USA Inc.

CIBC Bancorp USA Inc. acquired a new stake in Amcor PLC (NYSE:AMCR) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,410,993 shares of the company’s stock, valued at approximately $11,542,000. CIBC Bancorp USA Inc. owned about 0.06% of Amcor at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Prudential Financial Inc. boosted its stake in shares of Amcor by 124.5% in the second quarter. Prudential Financial Inc. now owns 395,591 shares of the company’s stock valued at $3,635,000 after buying an additional 219,390 shares during the period. Norges Bank bought a new stake in shares of Amcor during the 2nd quarter valued at $328,839,000. Legal & General Group Plc grew its holdings in shares of Amcor by 37.7% during the 2nd quarter. Legal & General Group Plc now owns 11,618,449 shares of the company’s stock worth $106,774,000 after purchasing an additional 3,181,138 shares in the last quarter. OMERS ADMINISTRATION Corp increased its position in shares of Amcor by 2,272.4% in the second quarter. OMERS ADMINISTRATION Corp now owns 1,228,456 shares of the company’s stock worth $11,290,000 after purchasing an additional 1,176,675 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Amcor by 51.1% in the second quarter. JPMorgan Chase & Co. now owns 9,700,142 shares of the company’s stock worth $89,148,000 after purchasing an additional 3,280,328 shares during the period. 45.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Amcor Price Performance

Amcor stock opened at $38.67 on Friday. 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 PLC has a 52 week low of $38.02 and a 52 week high of $50.94. The stock has a market capitalization of $17.87 billion, a P/E ratio of 25.28, a price-to-earnings-growth ratio of 0.93 and a beta of 0.65. The stock has a fifty day moving average of $45.27 and a 200-day moving average of $42.71.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Tuesday, February 3rd. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.03. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $5.53 billion. Amcor had a return on equity of 15.57% and a net margin of 3.04%.Amcor’s revenue was up 68.1% compared to the same quarter last year. During the same period last year, the firm posted $0.80 earnings per share. Amcor has set its FY 2026 guidance at 4.000-4.150 EPS. On average, sell-side analysts expect that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Stockholders of record on Wednesday, February 25th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date was Wednesday, February 25th. Amcor’s dividend payout ratio (DPR) is presently 169.93%.

Amcor Company Profile

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.