OMERS ADMINISTRATION Corp Acquires 13,344 Shares of Amcor PLC $AMCR

OMERS ADMINISTRATION Corp grew its stake in shares of Amcor PLC (NYSE:AMCR) by 25.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. AdvisorNet Financial Inc purchased a new stake in shares of Amcor in the first quarter worth $25,000. DV Equities LLC purchased a new position in shares of Amcor during the 4th quarter valued at $27,000. Brown Lisle Cummings Inc. boosted its holdings in Amcor by 137.9% in the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock worth $29,000 after buying an additional 2,000 shares during the period. Larson Financial Group LLC boosted its holdings in Amcor by 46.1% in the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock worth $33,000 after buying an additional 1,257 shares during the period. Finally, N.E.W. Advisory Services LLC increased its stake in Amcor by 10.1% in the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock worth $34,000 after buying an additional 373 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on AMCR. Jefferies Financial Group set a $44.92 price target on Amcor and gave the company a “hold” rating in a report on Tuesday, July 21st. Citigroup dropped their price objective on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Bank of America increased their target price on Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Wells Fargo & Company set a $43.00 target price on Amcor and gave the company an “equal weight” rating in a research note on Wednesday, July 15th. Finally, JPMorgan Chase & Co. lowered their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. One 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.08.

Amcor Stock Performance

NYSE AMCR 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 business has a 50 day simple moving average of $41.47 and a two-hundred day simple moving average of $42.28. The stock has a market capitalization of $21.62 billion, a PE ratio of 32.71, a P/E/G ratio of 1.42 and a beta of 0.62.

Amcor (NYSE:AMCR) last posted its earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, meeting analysts’ consensus estimates of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the prior year, the company earned $0.90 EPS. The company’s quarterly revenue was up 77.4% compared to the same quarter last year. On average, research analysts predict that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend was Thursday, May 28th. Amcor’s payout ratio is presently 181.82%.

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.