Corebridge Financial Inc. Sells 10,141 Shares of Amcor PLC $AMCR

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Corebridge Financial Inc. decreased its holdings in Amcor PLC (NYSE:AMCRFree Report) by 3.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 332,042 shares of the company’s stock after selling 10,141 shares during the period. Corebridge Financial Inc.’s holdings in Amcor were worth $3,221,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AMCR. AXA S.A. increased its holdings in shares of Amcor by 102.2% in the 4th quarter. AXA S.A. now owns 353,594 shares of the company’s stock worth $3,327,000 after purchasing an additional 178,711 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Amcor by 39.2% in the 4th quarter. BNP Paribas Financial Markets now owns 3,053,774 shares of the company’s stock worth $28,736,000 after purchasing an additional 860,446 shares in the last quarter. Bridgefront Capital LLC bought a new stake in shares of Amcor in the 4th quarter worth $618,000. Centiva Capital LP increased its holdings in shares of Amcor by 89.0% in the 4th quarter. Centiva Capital LP now owns 180,577 shares of the company’s stock worth $1,699,000 after purchasing an additional 85,030 shares in the last quarter. Finally, Caption Management LLC bought a new stake in shares of Amcor in the 4th quarter worth $2,060,000. Institutional investors own 45.14% of the company’s stock.

Insider Activity at Amcor

In other Amcor news, Director Stephen E. Sterrett acquired 10,000 shares of the stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $8.55 per share, for a total transaction of $85,500.00. Following the completion of the transaction, the director directly owned 10,000 shares of the company’s stock, valued at approximately $85,500. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Want More Great Investing Ideas?

Several brokerages recently commented on AMCR. Truist Financial set a $11.00 price objective on Amcor and gave the stock a “buy” rating in a report on Friday, July 11th. Robert W. Baird cut their price objective on Amcor from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Friday, August 15th. Wells Fargo & Company lifted their price objective on Amcor from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. Jefferies Financial Group began coverage on Amcor in a report on Wednesday, July 2nd. They issued a “buy” rating and a $12.00 price objective for the company. Finally, UBS Group raised Amcor from a “neutral” rating to a “buy” rating in a report on Thursday, June 26th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Amcor has an average rating of “Moderate Buy” and an average price target of $11.42.

Check Out Our Latest Report on Amcor

Amcor Price Performance

NYSE AMCR opened at $8.65 on Tuesday. The company has a market capitalization of $12.50 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 1.13 and a beta of 0.72. 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 business’s fifty day moving average is $9.30 and its 200 day moving average is $9.40. Amcor PLC has a fifty-two week low of $8.37 and a fifty-two week high of $11.48.

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

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Friday, September 5th will be given a dividend of $0.1275 per share. The ex-dividend date is Friday, September 5th. This represents a $0.51 annualized dividend and a yield of 5.9%. Amcor’s payout ratio is 141.67%.

Amcor Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding AMCR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amcor PLC (NYSE:AMCRFree Report).

Institutional Ownership by Quarter for Amcor (NYSE:AMCR)



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