AlphaStar Capital Management LLC Decreases Stake in Amcor PLC $AMCR

AlphaStar Capital Management LLC reduced its holdings in Amcor PLC (NYSE:AMCR) by 25.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,688 shares of the company’s stock after selling 12,784 shares during the period. AlphaStar Capital Management LLC’s holdings in Amcor were worth $346,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue increased its position in shares of Amcor by 51.6% during the second quarter. State of Alaska Department of Revenue now owns 464,293 shares of the company’s stock valued at $4,266,000 after acquiring an additional 158,082 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Amcor by 71.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,446,429 shares of the company’s stock valued at $22,483,000 after acquiring an additional 1,019,306 shares during the last quarter. Sound Income Strategies LLC increased its position in shares of Amcor by 54,855.7% during the second quarter. Sound Income Strategies LLC now owns 605,062 shares of the company’s stock valued at $5,561,000 after acquiring an additional 603,961 shares during the last quarter. OneDigital Investment Advisors LLC acquired a new position in shares of Amcor in the first quarter valued at approximately $121,000. Finally, Focus Partners Advisor Solutions LLC acquired a new position in shares of Amcor in the second quarter valued at approximately $463,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMCR. Robert W. Baird dropped their price objective on shares of Amcor from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Friday, August 15th. Royal Bank Of Canada began coverage on shares of Amcor in a report on Monday, September 22nd. They issued a “sector perform” rating for the company. Weiss Ratings restated a “hold (c-)” rating on shares of Amcor in a report on Wednesday, October 8th. Wells Fargo & Company dropped their price objective on shares of Amcor from $11.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday, October 15th. Finally, Truist Financial set a $11.00 price objective on shares of Amcor and gave the company a “buy” rating in a report on Friday, July 11th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Amcor presently has an average rating of “Moderate Buy” and a consensus target price of $10.84.

Amcor Stock Up 0.7%

Shares of Amcor stock opened at $7.91 on Friday. Amcor PLC has a 52-week low of $7.66 and a 52-week high of $11.24. The company has a 50 day moving average of $8.20 and a 200 day moving average of $8.92. The company has a quick ratio of 0.71, a current ratio of 1.21 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $18.22 billion, a P/E ratio of 21.96, a P/E/G ratio of 1.14 and a beta of 0.73.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Thursday, August 14th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). Amcor had a return on equity of 19.43% and a net margin of 3.40%.The firm had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $5.18 billion. During the same quarter in the prior year, the firm earned $0.21 EPS. The firm’s revenue was up 43.8% compared to the same quarter last year. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. As a group, research analysts forecast that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Friday, September 5th were given a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 6.5%. The ex-dividend date was Friday, September 5th. Amcor’s payout ratio is currently 141.67%.

Insider Buying and Selling at Amcor

In related news, Director Stephen E. Sterrett acquired 10,000 shares of Amcor stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average price of $8.55 per share, for a total transaction of $85,500.00. Following the transaction, the director owned 10,000 shares of the company’s stock, valued at $85,500. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.32% of the company’s stock.

About Amcor

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.