Swiss National Bank Sells 308,600 Shares of Amcor PLC $AMCR

Swiss National Bank cut its holdings in Amcor PLC (NYSE:AMCR) by 4.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,605,248 shares of the company’s stock after selling 308,600 shares during the quarter. Swiss National Bank owned approximately 0.29% of Amcor worth $54,031,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AMCR. Rothschild Investment LLC grew its holdings in Amcor by 4.2% during the 2nd quarter. Rothschild Investment LLC now owns 26,179 shares of the company’s stock worth $241,000 after acquiring an additional 1,049 shares during the last quarter. First County Bank CT lifted its position in shares of Amcor by 5.8% during the third quarter. First County Bank CT now owns 23,142 shares of the company’s stock worth $189,000 after purchasing an additional 1,275 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Amcor by 3.3% during the third quarter. GAMMA Investing LLC now owns 40,471 shares of the company’s stock worth $331,000 after purchasing an additional 1,305 shares in the last quarter. New York Life Investment Management LLC grew its stake in shares of Amcor by 0.4% during the third quarter. New York Life Investment Management LLC now owns 312,447 shares of the company’s stock valued at $2,556,000 after purchasing an additional 1,314 shares during the last quarter. Finally, Parvin Asset Management LLC grew its stake in shares of Amcor by 1.0% during the second quarter. Parvin Asset Management LLC now owns 145,332 shares of the company’s stock valued at $1,336,000 after purchasing an additional 1,500 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Amcor in a report on Wednesday, January 21st. Wells Fargo & Company lifted their target price on Amcor from $9.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. 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. Citigroup reiterated a “buy” rating on shares of Amcor in a report on Thursday, February 12th. Finally, Truist Financial lifted their price objective on Amcor from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $52.88.

Amcor Stock Up 1.0%

NYSE:AMCR opened at $42.53 on Thursday. The stock’s fifty day simple moving average is $45.54 and its 200-day simple moving average is $42.82. The firm has a market capitalization of $19.65 billion, a P/E ratio of 27.80, a P/E/G ratio of 0.98 and a beta of 0.65. The company has a quick ratio of 0.77, a current ratio of 1.30 and a debt-to-equity ratio of 1.26. Amcor PLC has a 12-month low of $38.33 and a 12-month high of $50.94.

Amcor (NYSE:AMCR) last released its earnings results 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. Amcor had a return on equity of 15.57% and a net margin of 3.04%.The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $5.53 billion. During the same quarter in the prior year, the firm posted $0.80 earnings per share. The company’s quarterly revenue was up 68.1% on a year-over-year basis. Amcor has set its FY 2026 guidance at 4.000-4.150 EPS. Equities research analysts expect that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 17th. Investors of record on Wednesday, February 25th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date is Wednesday, February 25th. Amcor’s dividend payout ratio (DPR) is currently 169.93%.

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.