Amcor PLC $AMCR Holdings Raised by State of Michigan Retirement System

State of Michigan Retirement System boosted its stake in Amcor PLC (NYSE:AMCR) by 58.9% in the second quarter, Holdings Channel reports. The institutional investor owned 623,076 shares of the company’s stock after acquiring an additional 231,000 shares during the quarter. State of Michigan Retirement System’s holdings in Amcor were worth $5,726,000 as of its most recent SEC filing.

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

Amcor Stock Performance

Shares of AMCR opened at $7.88 on Wednesday. The company has a market capitalization of $18.15 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 1.14 and a beta of 0.73. Amcor PLC has a one year low of $7.66 and a one year high of $10.70. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.21 and a quick ratio of 0.71. The company’s fifty day moving average price is $8.18 and its 200 day moving average price is $8.90.

Amcor (NYSE:AMCR) last announced 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). The firm had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.18 billion. Amcor had a return on equity of 19.43% and a net margin of 3.40%.The business’s revenue was up 43.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.21 EPS. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. As a group, analysts expect that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on AMCR shares. Truist Financial set a $11.00 price target on shares of Amcor and gave the company a “buy” rating in a report on Friday, July 11th. Wells Fargo & Company cut their price target on shares of Amcor from $11.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, October 15th. The Goldman Sachs Group started coverage on shares of Amcor in a report on Wednesday, September 10th. They set a “buy” rating on the stock. Robert W. Baird dropped their target price on shares of Amcor from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Friday, August 15th. Finally, JPMorgan Chase & Co. started coverage on shares of Amcor in a report on Friday, September 19th. They issued an “overweight” rating and a $10.00 target price on the stock. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $10.84.

Insider Transactions at Amcor

In related news, Director Stephen E. Sterrett purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were bought at an average cost of $8.55 per share, for a total transaction of $85,500.00. Following the transaction, the director directly owned 10,000 shares of the company’s stock, valued at approximately $85,500. This trade 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 owned by corporate insiders.

Amcor 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.