Healthcare of Ontario Pension Plan Trust Fund Takes Position in Amcor PLC $AMCR

Key Points

• Healthcare of Ontario Pension Plan Trust Fund acquired 29,030 Amcor shares worth approximately $1.15 million in the first quarter. Institutional investors collectively own 45.14% of the company.
• Amcor reported quarterly revenue of $5.91 billion, up 77.4% year over year, while earnings per share of $0.96 matched analyst expectations.
• Amcor maintains a quarterly dividend of $0.65 per share, equivalent to a 5.8% annualized yield. Analysts have a consensus “Moderate Buy” rating and an average price target of $48.08.

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Amcor PLC (NYSE:AMCR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 29,030 shares of the company's stock, valued at approximately $1,154,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. AdvisorNet Financial Inc bought a new position in Amcor during the 1st quarter worth approximately $25,000. DV Equities LLC bought a new stake in Amcor in the fourth quarter valued at approximately $27,000. Brown Lisle Cummings Inc. boosted its stake in shares of Amcor by 137.9% during the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company's stock valued at $29,000 after purchasing an additional 2,000 shares during the period. Larson Financial Group LLC boosted its stake in shares of Amcor by 46.1% during the fourth quarter. Larson Financial Group LLC now owns 3,985 shares of the company's stock valued at $33,000 after purchasing an additional 1,257 shares during the period. Finally, N.E.W. Advisory Services LLC grew its holdings in shares of Amcor by 10.1% in the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company's stock worth $34,000 after purchasing an additional 373 shares during the last quarter. Institutional investors own 45.14% of the company's stock.

Amcor Price Performance

Shares of Amcor stock opened at $44.96 on Friday. The business has a 50 day moving average of $41.89 and a 200 day moving average of $42.33. Amcor PLC has a 52 week low of $36.25 and a 52 week high of $50.94. The company has a market cap of $20.79 billion, a PE ratio of 31.44, a P/E/G ratio of 1.41 and a beta of 0.62. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30.

Amcor (NYSE:AMCR - Get Free Report) last released its quarterly earnings results 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 business had revenue of $5.91 billion for the quarter, compared to analysts' expectations of $5.71 billion. During the same quarter in the previous year, the business posted $0.90 earnings per share. The firm's revenue for the quarter was up 77.4% compared to the same quarter last year. As a group, equities research analysts forecast that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were given a dividend of $0.65 per share. The ex-dividend date was Thursday, May 28th. This represents a $2.60 annualized dividend and a dividend yield of 5.8%. Amcor's payout ratio is currently 181.82%.

Wall Street Analyst Weigh In

AMCR has been the topic of several analyst reports. Weiss Ratings raised shares of Amcor from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, May 11th. Truist Financial reissued a "buy" rating and set a $51.00 price target (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Citigroup decreased their price objective on shares of Amcor from $54.00 to $47.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. Wells Fargo & Company set a $43.00 price objective on shares of Amcor and gave the company an "equal weight" rating in a research note on Wednesday, July 15th. Finally, Bank of America increased their target price on shares of Amcor from $48.00 to $51.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. One investment 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 stock. 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.

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