Amcor PLC $AMCR Shares Acquired by State of Michigan Retirement System

State of Michigan Retirement System raised its holdings in Amcor PLC (NYSE:AMCR) by 58.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of AMCR. Vanguard Group Inc. lifted its holdings in Amcor by 15.5% in the 1st quarter. Vanguard Group Inc. now owns 68,105,901 shares of the company’s stock valued at $660,627,000 after acquiring an additional 9,119,308 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Amcor by 4,928.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,732,524 shares of the company’s stock worth $44,817,000 after buying an additional 4,638,412 shares in the last quarter. Nuveen LLC bought a new stake in Amcor during the first quarter worth approximately $37,522,000. Charles Schwab Investment Management Inc. boosted its holdings in Amcor by 8.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 49,831,643 shares of the company’s stock worth $483,367,000 after buying an additional 3,778,714 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Amcor by 9.5% during the first quarter. Invesco Ltd. now owns 33,314,287 shares of the company’s stock worth $323,149,000 after buying an additional 2,889,166 shares in the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Amcor

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

Amcor Trading Up 0.2%

Amcor stock opened at $7.88 on Wednesday. The company has a 50 day moving average price of $8.18 and a 200 day moving average price of $8.90. Amcor PLC has a 52 week low of $7.66 and a 52 week high of $10.70. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.71 and a current ratio of 1.21. The firm has a market capitalization of $18.15 billion, a price-to-earnings ratio of 21.88, a P/E/G ratio of 1.14 and a beta of 0.73.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Thursday, August 14th. The company reported $0.20 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 analyst estimates of $5.18 billion. During the same period in the prior year, the business posted $0.21 EPS. The company’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 forecast that Amcor PLC will post 0.74 EPS for the current year.

Amcor Dividend Announcement

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

Analyst Ratings Changes

AMCR has been the subject of a number of research reports. JPMorgan Chase & Co. initiated coverage on shares of Amcor in a report on Friday, September 19th. They set an “overweight” rating and a $10.00 target price for the company. Royal Bank Of Canada initiated coverage on shares of Amcor in a report on Monday, September 22nd. They set 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. Truist Financial set a $11.00 target price on shares of Amcor and gave the stock a “buy” rating in a report on Friday, July 11th. Finally, The Goldman Sachs Group assumed coverage on shares of Amcor in a report on Wednesday, September 10th. They set a “buy” rating for the company. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.84.

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.