Amcor PLC $AMCR Shares Acquired by National Pension Service

National Pension Service grew its holdings in shares of Amcor PLC (NYSE:AMCR) by 15.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 696,040 shares of the company’s stock after buying an additional 90,749 shares during the period. National Pension Service owned 0.15% of Amcor worth $5,805,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Dakota Wealth Management raised its holdings in shares of Amcor by 74.6% during the fourth quarter. Dakota Wealth Management now owns 345,449 shares of the company’s stock valued at $2,881,000 after buying an additional 147,639 shares during the last quarter. PFG Investments LLC bought a new stake in shares of Amcor during the fourth quarter valued at approximately $262,000. Vanguard Group Inc. raised its holdings in shares of Amcor by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock valued at $945,222,000 after buying an additional 1,845,627 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Amcor by 64.0% during the fourth quarter. Nordea Investment Management AB now owns 242,866 shares of the company’s stock valued at $2,034,000 after buying an additional 94,753 shares during the last quarter. Finally, Code Waechter LLC raised its holdings in shares of Amcor by 105.1% during the fourth quarter. Code Waechter LLC now owns 54,113 shares of the company’s stock valued at $451,000 after buying an additional 27,725 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

NYSE AMCR opened at $37.72 on Tuesday. Amcor PLC has a 12 month low of $36.25 and a 12 month high of $50.94. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. The firm has a market capitalization of $17.44 billion, a PE ratio of 26.38, a P/E/G ratio of 1.17 and a beta of 0.63. The company’s 50 day simple moving average is $39.43 and its 200 day simple moving average is $42.24.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.96. The firm had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.71 billion. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The firm’s quarterly revenue was up 77.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.90 earnings per share. As a group, equities research analysts forecast that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th will be given a $0.65 dividend. The ex-dividend date is Thursday, May 28th. This represents a $2.60 annualized dividend and a yield of 6.9%. Amcor’s payout ratio is 181.82%.

Analyst Ratings Changes

AMCR has been the topic of a number of recent analyst reports. Truist Financial reaffirmed a “buy” rating and set a $51.00 price target (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Citigroup cut their price target on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Amcor in a report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price target on the stock. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Robert W. Baird set a $54.00 price objective on shares of Amcor in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Amcor has a consensus rating of “Moderate Buy” and a consensus target price of $49.33.

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.