Cannell & Spears LLC Purchases 784,821 Shares of Amcor PLC $AMCR

Cannell & Spears LLC raised its position in shares of Amcor PLC (NYSE:AMCR) by 38.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,846,113 shares of the company’s stock after purchasing an additional 784,821 shares during the quarter. Cannell & Spears LLC’s holdings in Amcor were worth $23,281,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AMCR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Amcor by 8.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,381 shares of the company’s stock valued at $2,596,000 after purchasing an additional 20,757 shares in the last quarter. Focus Partners Wealth increased its position in Amcor by 11.3% in the first quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock worth $418,000 after purchasing an additional 4,396 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Amcor during the second quarter valued at $138,000. Prospera Financial Services Inc purchased a new stake in Amcor during the second quarter valued at $120,000. Finally, National Pension Service lifted its position in Amcor by 4.0% during the second quarter. National Pension Service now owns 466,781 shares of the company’s stock valued at $4,290,000 after purchasing an additional 18,133 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AMCR. Citigroup reissued a “buy” rating on shares of Amcor in a research note on Thursday, February 12th. Robert W. Baird set a $54.00 target price on shares of Amcor in a research report on Wednesday, February 4th. Morgan Stanley downgraded shares of Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price target for the company. in a report on Wednesday, January 28th. Truist Financial lifted their price target on Amcor from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Amcor in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.88.

Amcor Price Performance

AMCR opened at $40.59 on Friday. The business has a fifty day moving average of $45.48 and a 200 day moving average of $42.79. The stock has a market cap of $18.76 billion, a P/E ratio of 26.53, a PEG ratio of 0.95 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 52-week low of $38.33 and a 52-week 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, topping analysts’ consensus estimates of $0.83 by $0.03. Amcor had a return on equity of 15.57% and a net margin of 3.04%.The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $5.53 billion. During the same quarter last year, the firm posted $0.80 earnings per share. 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. As a group, sell-side analysts anticipate that Amcor PLC will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 17th. Investors of record on Wednesday, February 25th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend 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.