Burney Co. Invests $2.37 Million in Amcor PLC $AMCR

Burney Co. acquired a new position in Amcor PLC (NYSE:AMCR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 257,962 shares of the company’s stock, valued at approximately $2,371,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AdvisorNet Financial Inc boosted its holdings in shares of Amcor by 839.8% in the 2nd quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company’s stock worth $28,000 after purchasing an additional 2,704 shares in the last quarter. Adirondack Trust Co. purchased a new position in shares of Amcor in the 2nd quarter worth about $29,000. HM Payson & Co. purchased a new position in shares of Amcor in the 1st quarter worth about $30,000. Brentview Investment Management LLC purchased a new position in shares of Amcor in the 1st quarter worth about $31,000. Finally, Bartlett & CO. Wealth Management LLC purchased a new position in shares of Amcor in the 2nd quarter worth about $33,000. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on AMCR. The Goldman Sachs Group began coverage on Amcor in a report on Wednesday, September 10th. They set a “buy” rating for the company. Stifel Nicolaus raised Amcor from a “hold” rating to a “buy” rating and set a $10.20 price target for the company in a research report on Friday, October 10th. Truist Financial set a $11.00 target price on Amcor and gave the stock a “buy” rating in a research report on Friday, July 11th. Royal Bank Of Canada started coverage on Amcor in a research report on Monday, September 22nd. They issued a “sector perform” rating for the company. Finally, Wells Fargo & Company cut their price target on Amcor from $11.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 15th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Amcor presently has a consensus rating of “Moderate Buy” and an average target price of $10.84.

Insider Activity

In other news, Director Stephen E. Sterrett purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average cost of $8.55 per share, for a total transaction of $85,500.00. Following the purchase, the director directly owned 10,000 shares in the company, valued at approximately $85,500. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.32% of the stock is currently owned by company insiders.

Amcor Stock Performance

Shares of AMCR opened at $7.86 on Tuesday. The business’s fifty day simple moving average is $8.19 and its two-hundred day simple moving average is $8.91. The company has a current ratio of 1.21, a quick ratio of 0.71 and a debt-to-equity ratio of 1.18. Amcor PLC has a 12 month low of $7.66 and a 12 month high of $10.70. The company has a market cap of $18.11 billion, a price-to-earnings ratio of 21.82, a P/E/G ratio of 1.14 and a beta of 0.73.

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

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Friday, September 5th were paid a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date was Friday, September 5th. Amcor’s dividend payout ratio (DPR) is 141.67%.

Amcor Company Profile

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.