Ontario Teachers Pension Plan Board Acquires Shares of 97,080 Amcor plc (NYSE:AMCR)

Ontario Teachers Pension Plan Board acquired a new stake in Amcor plc (NYSE:AMCR) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 97,080 shares of the company’s stock, valued at approximately $923,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. NorthRock Partners LLC increased its position in Amcor by 2.0% during the first quarter. NorthRock Partners LLC now owns 54,237 shares of the company’s stock worth $516,000 after acquiring an additional 1,050 shares during the period. Wealth Alliance increased its holdings in shares of Amcor by 1.9% during the fourth quarter. Wealth Alliance now owns 55,592 shares of the company’s stock worth $536,000 after purchasing an additional 1,061 shares during the period. Czech National Bank raised its position in shares of Amcor by 0.5% in the first quarter. Czech National Bank now owns 254,309 shares of the company’s stock valued at $2,418,000 after buying an additional 1,166 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of Amcor by 17.0% in the fourth quarter. Global Retirement Partners LLC now owns 8,397 shares of the company’s stock valued at $80,000 after buying an additional 1,222 shares during the period. Finally, MV Capital Management Inc. boosted its stake in shares of Amcor by 33.7% in the fourth quarter. MV Capital Management Inc. now owns 5,193 shares of the company’s stock valued at $50,000 after buying an additional 1,310 shares during the period. Institutional investors own 45.14% of the company’s stock.

Amcor Trading Up 0.4 %

Shares of AMCR stock traded up $0.04 during trading hours on Monday, hitting $10.15. 12,641,380 shares of the company’s stock traded hands, compared to its average volume of 8,780,724. The stock’s 50 day simple moving average is $9.97 and its 200 day simple moving average is $9.57. The stock has a market cap of $14.67 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 4.46 and a beta of 0.86. Amcor plc has a 12 month low of $8.45 and a 12 month high of $10.51. The company has a quick ratio of 0.75, a current ratio of 1.29 and a debt-to-equity ratio of 1.76.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.49 billion. Amcor had a net margin of 4.75% and a return on equity of 24.66%. Amcor’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.18 earnings per share. On average, sell-side analysts anticipate that Amcor plc will post 0.7 EPS for the current year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 22nd were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date was Tuesday, May 21st. Amcor’s payout ratio is 111.11%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AMCR shares. JPMorgan Chase & Co. upped their target price on Amcor from $9.90 to $10.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Wells Fargo & Company began coverage on shares of Amcor in a report on Friday, June 28th. They set an “equal weight” rating and a $9.80 price target for the company. Finally, Stifel Nicolaus began coverage on shares of Amcor in a report on Tuesday, July 9th. They set a “hold” rating and a $10.80 price target for the company. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.15.

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.