OMERS ADMINISTRATION Corp Grows Stake in Amcor PLC $AMCR

OMERS ADMINISTRATION Corp grew its holdings in shares of Amcor PLC (NYSE:AMCR) by 25.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 65,125 shares of the company’s stock after buying an additional 13,344 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Amcor were worth $2,589,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp boosted its holdings in Amcor by 1.7% in the fourth quarter. State Street Corp now owns 141,509,581 shares of the company’s stock valued at $1,180,190,000 after acquiring an additional 2,432,340 shares in the last quarter. M&G PLC increased its position in shares of Amcor by 6.1% during the fourth quarter. M&G PLC now owns 114,989,595 shares of the company’s stock valued at $919,917,000 after buying an additional 6,655,611 shares during the period. Vanguard Group Inc. increased its position in shares of Amcor by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock valued at $945,222,000 after buying an additional 1,845,627 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Amcor by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 84,095,399 shares of the company’s stock worth $701,356,000 after buying an additional 2,036,667 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Amcor by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 64,202,708 shares of the company’s stock worth $533,487,000 after buying an additional 262,418 shares during the period. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Up 3.4%

AMCR stock opened at $46.77 on Wednesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. Amcor PLC has a 1-year low of $36.25 and a 1-year high of $50.94. The stock has a market capitalization of $21.62 billion, a P/E ratio of 32.71, a P/E/G ratio of 1.42 and a beta of 0.62. The business has a fifty day moving average price of $41.47 and a 200-day moving average price of $42.28.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, meeting the consensus estimate of $0.96. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The firm had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same period in the previous year, the company earned $0.90 earnings per share. The firm’s quarterly revenue was up 77.4% on a year-over-year basis. Equities analysts forecast that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date was Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is 181.82%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Truist Financial reiterated a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Deutsche Bank Aktiengesellschaft started coverage on shares of Amcor in a research note on Wednesday, April 1st. They set a “buy” rating and a $50.00 target price for the company. BMO Capital Markets began coverage on shares of Amcor in a report on Thursday, July 16th. They set a “market perform” rating and a $47.00 target price for the company. Finally, JPMorgan Chase & Co. cut their target price on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $48.08.

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.