Raymond James Financial Services Advisors Inc., a financial services firm headquartered in St. Petersburg, Florida, has announced significant growth in their position in Amcor Plc (NYSE: AMCR). According to the company’s recent Form 13F filing with the Securities and Exchange Commission (SEC), Raymond James Financial Services Advisors Inc.’s holdings in Amcor increased by 25.9% during the fourth quarter of 2022. The firm now owns 102,016 shares of the global consumer packaging company, an addition of 20,996 shares during the same quarter. At the end of the quarter, Raymond James Financial Services Advisors Inc.’s holdings were worth $1,215,000.
Amcor Plc recently released its quarterly earnings report on May 2nd, and the results were impressive. The company reported earnings per share (EPS) of $0.18, meeting analysts’ consensus estimates. The business generated revenue of $3.67 billion during Q4 FY22 compared to analysts’ expected $3.69 billion. Despite missing estimates for revenue by a slight margin, Amcor’s net margin came in at 6.54%, providing reasons for optimism among investors.
The holding company operates through two major segments: Flexibles and Rigid Packaging categories. While its Flexible Packaging segment develops and supplies flexible packaging across different geographies globally, Amcor’s Rigid Plastics segment manufactures various rigid plastic containers and related products.
As the end of fiscal year looms for Amcor Plc., equities analysts predict it will post an EPS of $0.73 for FY22 as a group which is based on its performance last year when they earned $0.21 earnings per share.
In conclusion, Raymond James Financial Services Advisors’ ownership surge reflects investor hope for growing sales stats from each of Amcor’s business segments ongoing as we approach fiscal year-end for FY22.
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BlackRock and State Street Boost Holdings in Consumer Packaging Company Amcor Plc
Amcor Plc, a holding company operating in the consumer packaging sector, has seen changes to its institutional investor positions recently. In particular, BlackRock Inc and State Street Corp both grew their positions in the company this year. According to a recent financial report, BlackRock Inc boosted its holdings by 1.3%, and now owns 116,990,870 shares of the stock worth approximately $1.26bn after purchasing an additional 1,466,337 shares during Q3. Meanwhile, State Street Corp increased its position by 10.2% during Q1 and now holds approximately $1.28bn worth of Amcor’s stock after purchasing an additional 10,472,157 shares.
The company operates across two segments: Flexibles and Rigid Packaging. The former develops and supplies flexible packaging solutions globally while the latter manufactures rigid plastic containers.
Despite some analyst concern over payout ratio (currently at 74.24%), stockholders can still anticipate a quarterly dividend payout of $0.1225 per share on Tuesday June 20th; this represents an annualized payout of $0.49 per share with a dividend yield of approximately 5.01%. The ex-dividend date for this payment is expected on Tuesday May 23rd.
Recently some well-known financial firms have upgraded or downgraded their ratings on Amcor Plc following financial analysis; JPMorgan Chase & Co assigned it an “overweight” rating in place of “neutral”, while JP Morgan lowered its price objective from $11.60 to $10.80 in May’s research report noting that any sustained growth momentum is unlikely due to market headwinds such as energy exploitation issues and unknown cybersecurity risks.
