Harbour Investments Inc. Sells 1,763 Shares of Amcor PLC $AMCR

Harbour Investments Inc. trimmed its stake in Amcor PLC (NYSE:AMCR) by 22.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,966 shares of the company’s stock after selling 1,763 shares during the period. Harbour Investments Inc.’s holdings in Amcor were worth $55,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of AMCR. AdvisorNet Financial Inc grew its holdings in shares of Amcor by 839.8% during the second quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company’s stock worth $28,000 after purchasing an additional 2,704 shares during the last quarter. Adirondack Trust Co. bought a new stake in shares of Amcor during the second quarter worth $29,000. HM Payson & Co. bought a new stake in shares of Amcor during the first quarter worth $30,000. Brentview Investment Management LLC bought a new stake in shares of Amcor during the first quarter worth $31,000. Finally, Bartlett & CO. Wealth Management LLC bought a new stake in shares of Amcor during the second quarter worth $33,000. 45.14% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Stephen E. Sterrett bought 10,000 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were purchased at an average price of $8.55 per share, with a total value of $85,500.00. Following the completion of the purchase, the director owned 10,000 shares of the company’s stock, valued at $85,500. This represents a ? increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.32% of the company’s stock.

Amcor Price Performance

Amcor stock opened at $8.15 on Friday. The business’s 50-day simple moving average is $8.25 and its 200 day simple moving average is $8.96. The stock has a market cap of $18.78 billion, a price-to-earnings ratio of 22.63, a P/E/G ratio of 1.17 and a beta of 0.73. Amcor PLC has a 12-month low of $7.81 and a 12-month high of $11.24. The company has a quick ratio of 0.71, a current ratio of 1.21 and a debt-to-equity ratio of 1.18.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Thursday, August 14th. The company reported $0.20 earnings per share (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 firm had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.18 billion. During the same quarter in the prior year, the business earned $0.21 EPS. Amcor’s revenue was up 43.8% on a year-over-year basis. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. As a group, research analysts anticipate 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 was paid on Thursday, September 25th. Shareholders of record on Friday, September 5th were paid a $0.1275 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.51 annualized dividend and a yield of 6.3%. Amcor’s dividend payout ratio is presently 141.67%.

Analysts Set New Price Targets

Several analysts have recently commented on AMCR shares. Stifel Nicolaus upgraded Amcor from a “hold” rating to a “buy” rating and set a $10.20 target price on the stock in a report on Friday, October 10th. The Goldman Sachs Group started coverage on Amcor in a report on Wednesday, September 10th. They set a “buy” rating on the stock. Truist Financial set a $11.00 target price on Amcor and gave the stock a “buy” rating in a report on Friday, July 11th. Royal Bank Of Canada began coverage on Amcor in a report on Monday, September 22nd. They issued a “sector perform” rating on the stock. Finally, Robert W. Baird decreased their price target on Amcor from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Friday, August 15th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently 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.