Public Employees Retirement System of Ohio Makes New $5.71 Million Investment in Amcor PLC $AMCR

Key Points

• Public Employees Retirement System of Ohio acquired 131,689 Amcor shares in the second quarter, valued at approximately $5.71 million. Institutional investors collectively own 45.14% of the company.
• Amcor reported quarterly earnings of $1.23 per share, beating estimates of $1.19, while revenue reached $6.40 billion—up 25.9% year over year and above analyst expectations.
• Amcor declared a quarterly dividend of $0.65, equivalent to $2.60 annually and a 5.6% yield. Analysts give the stock a “Moderate Buy” consensus rating with an average price target of $49.49.

Public Employees Retirement System of Ohio bought a new position in Amcor PLC (NYSE:AMCR - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 131,689 shares of the company's stock, valued at approximately $5,709,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bangor Savings Bank bought a new position in Amcor in the 2nd quarter worth approximately $26,000. AdvisorNet Financial Inc bought a new stake in Amcor during the 1st quarter valued at $25,000. Western Wealth Management LLC bought a new stake in Amcor during the 1st quarter valued at $27,000. Palladiem LLC purchased a new stake in shares of Amcor during the first quarter worth $34,000. Finally, Root Financial Partners LLC purchased a new stake in shares of Amcor during the first quarter worth $41,000. Institutional investors own 45.14% of the company's stock.

Amcor Trading Up 1.9%

Shares of Amcor stock opened at $46.68 on Thursday. Amcor PLC has a 1 year low of $36.25 and a 1 year high of $50.94. The firm has a market cap of $21.58 billion, a PE ratio of 19.78, a PEG ratio of 2.51 and a beta of 0.60. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.25 and a quick ratio of 0.76. The company has a 50 day simple moving average of $45.28 and a two-hundred day simple moving average of $42.63.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported $1.23 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.04. The firm had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.05 billion. Amcor had a net margin of 4.71% and a return on equity of 15.92%. The business's revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.20 EPS. Analysts expect that Amcor PLC will post 1.84 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Friday, September 4th will be given a $0.65 dividend. The ex-dividend date is Friday, September 4th. This represents a $2.60 annualized dividend and a yield of 5.6%. Amcor's payout ratio is 110.17%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AMCR shares. Citigroup reiterated a "buy" rating and issued a $52.00 price target (up from $47.00) on shares of Amcor in a research report on Friday, August 14th. Bank of America raised their target price on Amcor from $48.00 to $51.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Wells Fargo & Company lifted their target price on Amcor from $43.00 to $44.00 and gave the company an "equal weight" rating in a report on Friday, August 14th. Jefferies Financial Group set a $44.92 price target on Amcor and gave the company a "hold" rating in a research report on Tuesday, July 21st. Finally, JPMorgan Chase & Co. restated a "neutral" rating and issued a $47.00 price objective (up from $44.00) on shares of Amcor in a research report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $49.49.

About Amcor

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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