Old North State Trust LLC Acquires New Stake in Amcor PLC $AMCR

Old North State Trust LLC bought a new position in shares of Amcor PLC (NYSE:AMCR) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 21,000 shares of the company’s stock, valued at approximately $172,000.

A number of other institutional investors have also added to or reduced their stakes in AMCR. Quent Capital LLC purchased a new stake in shares of Amcor in the 3rd quarter valued at about $27,000. DecisionPoint Financial LLC purchased a new position in shares of Amcor during the second quarter worth about $34,000. CYBER HORNET ETFs LLC bought a new position in shares of Amcor in the second quarter worth approximately $36,000. LSV Asset Management bought a new position in shares of Amcor in the second quarter worth approximately $37,000. Finally, Huntington National Bank raised its stake in Amcor by 81.8% in the third quarter. Huntington National Bank now owns 4,490 shares of the company’s stock valued at $37,000 after purchasing an additional 2,020 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Stock Up 0.4%

Shares of AMCR opened at $40.75 on Wednesday. The firm has a market cap of $18.83 billion, a P/E ratio of 26.63, a P/E/G ratio of 0.95 and a beta of 0.65. The stock has a 50 day simple moving average of $45.41 and a two-hundred day simple moving average of $42.76. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.30 and a quick ratio of 0.77. Amcor PLC has a 1 year low of $38.33 and a 1 year high of $50.94.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.83 by $0.03. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $5.53 billion. Amcor had a net margin of 3.04% and a return on equity of 15.57%. The business’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, analysts forecast that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Wednesday, February 25th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $2.60 annualized dividend and a dividend yield of 6.4%. Amcor’s dividend payout ratio (DPR) is currently 169.93%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AMCR shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Amcor in a research report on Wednesday, January 21st. Robert W. Baird set a $54.00 price target on shares of Amcor in a report on Wednesday, February 4th. Morgan Stanley cut 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. Wells Fargo & Company lifted their price objective on shares of Amcor from $9.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Finally, Truist Financial upped their target price on shares of Amcor from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.88.

About Amcor

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.