Crossmark Global Holdings Inc. Cuts Stake in Amcor PLC $AMCR

Crossmark Global Holdings Inc. lowered its holdings in shares of Amcor PLC (NYSE:AMCR) by 36.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 71,274 shares of the company’s stock after selling 41,095 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Amcor were worth $583,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Amcor by 61.8% in the second quarter. Vanguard Group Inc. now owns 110,228,036 shares of the company’s stock worth $1,012,996,000 after purchasing an additional 42,122,135 shares during the last quarter. State Street Corp boosted its position in Amcor by 41.4% during the second quarter. State Street Corp now owns 129,701,986 shares of the company’s stock valued at $1,191,961,000 after buying an additional 37,982,310 shares during the period. Norges Bank bought a new position in shares of Amcor during the second quarter valued at about $328,839,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Amcor by 62.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 80,770,303 shares of the company’s stock worth $742,279,000 after buying an additional 30,938,660 shares during the period. Finally, M&G PLC increased its holdings in shares of Amcor by 26.6% in the third quarter. M&G PLC now owns 108,333,984 shares of the company’s stock worth $866,672,000 after buying an additional 22,737,979 shares during the period. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Trading Up 1.0%

AMCR traded up $0.42 during midday trading on Friday, reaching $40.75. 544,388 shares of the company’s stock traded hands, compared to its average volume of 5,850,542. Amcor PLC has a 52 week low of $38.33 and a 52 week high of $50.94. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.30 and a quick ratio of 0.77. The firm has a fifty day moving average of $45.51 and a two-hundred day moving average of $42.80. The stock has a market capitalization of $18.83 billion, a price-to-earnings ratio of 26.50, a P/E/G ratio of 0.99 and a beta of 0.65.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. Amcor had a return on equity of 15.57% and a net margin of 3.04%.The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $5.53 billion. During the same period last year, the company earned $0.80 EPS. The business’s quarterly revenue was up 68.1% compared to the same quarter last year. Amcor has set its FY 2026 guidance at 4.000-4.150 EPS. On average, equities analysts anticipate that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 17th. Investors of record on Wednesday, February 25th will be issued a $0.65 dividend. The ex-dividend date is Wednesday, February 25th. This represents a $2.60 annualized dividend and a yield of 6.4%. Amcor’s payout ratio is 169.93%.

Analyst Ratings Changes

Several brokerages recently weighed in on AMCR. Wells Fargo & Company increased their target price on Amcor from $9.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Truist Financial increased their price objective on Amcor from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Morgan Stanley cut shares of Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 target price on the stock. in a report on Wednesday, January 28th. Citigroup reaffirmed a “buy” rating on shares of Amcor in a research note on Thursday, February 12th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Amcor in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Amcor currently has a consensus rating of “Moderate Buy” and an average target price of $52.88.

Amcor Profile

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.