Korea Investment CORP Sells 1,105,400 Shares of Amcor PLC $AMCR

Korea Investment CORP decreased its holdings in shares of Amcor PLC (NYSE:AMCR) by 67.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 528,551 shares of the company’s stock after selling 1,105,400 shares during the quarter. Korea Investment CORP’s holdings in Amcor were worth $4,324,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Quent Capital LLC acquired a new position in Amcor during the 3rd quarter worth approximately $27,000. DecisionPoint Financial LLC bought a new position in Amcor in the 2nd quarter valued at approximately $34,000. CYBER HORNET ETFs LLC acquired a new stake in Amcor in the second quarter valued at approximately $36,000. LSV Asset Management bought a new stake in shares of Amcor during the second quarter worth $37,000. Finally, Huntington National Bank grew its stake in shares of Amcor by 81.8% during the third quarter. Huntington National Bank now owns 4,490 shares of the company’s stock worth $37,000 after buying an additional 2,020 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

Shares of NYSE:AMCR opened at $40.31 on Friday. The firm has a market cap of $18.63 billion, a PE ratio of 26.35, a price-to-earnings-growth ratio of 0.99 and a beta of 0.65. The firm’s fifty day moving average is $45.51 and its 200-day moving average is $42.80. 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 $38.33 and a 52 week high of $50.94.

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

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 17th. Stockholders of record on Wednesday, February 25th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $2.60 annualized dividend and a dividend yield of 6.5%. Amcor’s dividend payout ratio is presently 169.93%.

Analyst Ratings Changes

AMCR has been the subject of several research analyst reports. Truist Financial upped their price target on shares of Amcor from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Wells Fargo & Company boosted their price objective on Amcor from $9.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Robert W. Baird set a $54.00 target price on Amcor in a report on Wednesday, February 4th. Citigroup reiterated a “buy” rating on shares of Amcor in a research report on Thursday, February 12th. Finally, Morgan Stanley lowered Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price target on the stock. in a research note on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Amcor presently has an average rating of “Moderate Buy” and a consensus target price of $52.88.

Amcor 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.