Public Sector Pension Investment Board Acquires 23,299 Shares of Amcor plc (NYSE:AMCR)

Public Sector Pension Investment Board increased its holdings in shares of Amcor plc (NYSE:AMCR) by 72.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,522 shares of the company’s stock after acquiring an additional 23,299 shares during the period. Public Sector Pension Investment Board’s holdings in Amcor were worth $543,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of AMCR. M&G Plc boosted its position in Amcor by 2,741.7% in the 2nd quarter. M&G Plc now owns 47,164,358 shares of the company’s stock valued at $471,644,000 after buying an additional 45,504,608 shares during the last quarter. Wellington Management Group LLP acquired a new position in shares of Amcor during the 4th quarter worth about $155,438,000. Price T Rowe Associates Inc. MD grew its position in shares of Amcor by 11.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,604,159 shares of the company’s stock valued at $195,946,000 after purchasing an additional 2,086,698 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Amcor by 11.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,721,829 shares of the company’s stock valued at $143,989,000 after purchasing an additional 1,527,492 shares during the period. Finally, ProShare Advisors LLC grew its position in shares of Amcor by 7.8% in the 2nd quarter. ProShare Advisors LLC now owns 19,916,478 shares of the company’s stock valued at $194,783,000 after purchasing an additional 1,443,364 shares during the period. 45.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AMCR has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their price target on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Robert W. Baird upped their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Wells Fargo & Company upped their price target on Amcor from $9.80 to $10.50 and gave the stock an “equal weight” rating in a research report on Friday, August 16th. Citigroup upped their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, Stifel Nicolaus initiated coverage on Amcor in a research note on Tuesday, July 9th. They set a “hold” rating and a $10.80 price objective on the stock. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $10.73.

Amcor Stock Down 0.7 %

AMCR stock opened at $11.15 on Friday. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.17 and a quick ratio of 0.69. The stock has a market capitalization of $16.12 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 2.73 and a beta of 0.85. The business’s fifty day moving average price is $10.93 and its two-hundred day moving average price is $10.13. Amcor plc has a fifty-two week low of $8.45 and a fifty-two week high of $11.48.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Thursday, August 15th. The company reported $0.21 earnings per share for the quarter, hitting the consensus estimate of $0.21. The firm had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Amcor had a return on equity of 25.45% and a net margin of 5.35%. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.19 EPS. On average, equities analysts anticipate that Amcor plc will post 0.75 earnings per share for the current year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, September 6th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend was Friday, September 6th. Amcor’s dividend payout ratio (DPR) is currently 111.11%.

Amcor Profile

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.