Amcor PLC $AMCR Stock Position Lowered by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC decreased its position in Amcor PLC (NYSE:AMCR) by 8.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 711,351 shares of the company’s stock after selling 67,889 shares during the period. Wedge Capital Management L L P NC’s holdings in Amcor were worth $5,933,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Amcor by 41.4% in the second quarter. State Street Corp now owns 129,701,986 shares of the company’s stock valued at $1,191,961,000 after purchasing an additional 37,982,310 shares in the last quarter. Norges Bank purchased a new position in shares of Amcor during the second quarter valued at $328,839,000. M&G PLC grew its holdings in shares of Amcor by 26.6% during the third quarter. M&G PLC now owns 108,333,984 shares of the company’s stock valued at $866,672,000 after buying an additional 22,737,979 shares in the last quarter. Federated Hermes Inc. raised its position in Amcor by 103.9% during the third quarter. Federated Hermes Inc. now owns 39,344,317 shares of the company’s stock valued at $321,837,000 after buying an additional 20,052,979 shares during the period. Finally, AQR Capital Management LLC raised its position in Amcor by 398.6% during the second quarter. AQR Capital Management LLC now owns 16,015,722 shares of the company’s stock valued at $147,184,000 after buying an additional 12,803,785 shares during the period. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amcor Price Performance

AMCR opened at $38.64 on Friday. The stock has a market cap of $17.85 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 0.90 and a beta of 0.65. Amcor PLC has a 1 year low of $38.02 and a 1 year high of $50.94. The company has a current ratio of 1.30, a quick ratio of 0.77 and a debt-to-equity ratio of 1.26. The stock has a fifty day moving average price of $44.80 and a 200 day moving average price of $42.62.

Amcor (NYSE:AMCR) last issued its earnings results on Tuesday, February 3rd. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.03. Amcor had a return on equity of 15.57% and a net margin of 3.04%.The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $5.53 billion. During the same period in the prior year, the firm posted $0.80 EPS. The business’s revenue was up 68.1% compared to the same quarter last year. Amcor has set its FY 2026 guidance at 4.000-4.150 EPS. Analysts forecast 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 Tuesday, March 17th. Investors of record on Wednesday, February 25th were issued a $0.65 dividend. The ex-dividend date was Wednesday, February 25th. This represents a $2.60 dividend on an annualized basis and a yield of 6.7%. Amcor’s dividend payout ratio is currently 169.93%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AMCR shares. Citigroup restated a “buy” rating on shares of Amcor in a research report on Thursday, February 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Amcor in a report on Wednesday, January 21st. Wells Fargo & Company lowered shares of Amcor from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $48.00 to $43.00 in a research report on Friday, March 20th. Robert W. Baird set a $54.00 price target on shares of Amcor in a report on Wednesday, February 4th. Finally, Morgan Stanley downgraded shares of Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price objective on the stock. in a research report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.25.

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.