Linden Thomas Advisory Services LLC has increased its investment in Amcor PLC by 3.9%, according to its recent Form 13F filing with the Securities and Exchange Commission (SEC). The advisory firm now holds 138,590 shares of Amcor, having acquired an additional 5,184 shares during the second quarter. At the end of this reporting period, Linden Thomas’ holdings in Amcor were valued at approximately $1.27 million.
Several other institutional investors have also made adjustments to their positions in Amcor. Farther Finance Advisors LLC raised its stake by 5.3%, securing 20,689 shares valued at $190,000 after purchasing 1,035 additional shares. Similarly, AlphaStar Capital Management LLC increased its holdings by 2.4% in the first quarter, bringing its total to 50,472 shares worth $490,000 after buying an extra 1,185 shares. Koshinski Asset Management Inc. expanded its stake by 10.1%, acquiring 13,659 shares valued at $132,000. Moreover, Private Trust Co. NA lifted its holdings by 4.8%, now owning 28,611 shares worth $263,000 after buying an additional 1,310 shares. Lastly, ORG Partners LLC increased its stake by 17.2%, resulting in ownership of 10,262 shares valued at $98,000. Currently, institutional investors hold approximately 45.14% of Amcor’s stock.
Amcor’s Stock Performance and Dividend Announcement
As of Monday, Amcor’s stock opened at $8.15. The company has a market capitalization of $18.78 billion and a price-to-earnings ratio of 22.63. With a price-to-earnings-growth ratio of 1.16 and a beta of 0.73, Amcor’s financial metrics indicate a stable investment. Over the past year, the stock has seen a low of $7.81 and a high of $11.24.
In addition, Amcor recently announced a quarterly dividend of $0.1275 per share, which was paid on September 25, 2023. Shareholders of record as of September 5 received this dividend, translating to an annualized payout of $0.51 and a yield of 6.3%. The dividend payout ratio stands at 141.67%, indicating a robust commitment to returning value to shareholders.
Insider Activity and Analyst Ratings
In related news, Amcor’s Director, Stephen E. Sterrett, purchased 10,000 shares on August 19, at an average price of $8.55 per share, amounting to a total investment of $85,500. Following this transaction, Sterrett’s ownership in Amcor has increased significantly, reflecting confidence in the company’s future.
Recent commentary from analysts has been generally positive. JPMorgan Chase & Co. initiated coverage with an “overweight” rating and a price target of $10.00. Similarly, Jefferies Financial Group set a “buy” rating with a price objective of $12.00. Conversely, Wells Fargo & Company adjusted its target price from $11.00 to $9.00 while maintaining an “overweight” rating. Overall, ten analysts recommend buying the stock, while four suggest holding it, leading to an average rating of “Moderate Buy” with a consensus price target of $10.84, according to MarketBeat.
Amcor PLC, which operates in the packaging industry across multiple regions—including Europe, North America, and Asia Pacific—continues to be an attractive option for both institutional and individual investors. The company’s segments, Flexibles and Rigid Packaging, provide a wide array of products for various industries, including food, medical, and personal care. As it navigates the market landscape, Amcor’s financial health and proactive investor engagement remain focal points for stakeholders.
