Healthcare of Ontario Pension Plan Trust Fund Purchases New Shares in Amcor PLC $AMCR

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Amcor PLC (NYSE:AMCR) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 29,030 shares of the company’s stock, valued at approximately $1,154,000.

Other institutional investors have also added to or reduced their stakes in the company. XY Capital Ltd purchased a new position in Amcor during the first quarter valued at $4,532,000. ABN Amro Investment Solutions bought a new position in shares of Amcor in the 1st quarter worth about $614,000. Oslo Pensjonsforsikring AS purchased a new position in Amcor during the 1st quarter valued at about $205,000. Summit Global Investments purchased a new position in Amcor during the 1st quarter valued at about $242,000. Finally, Parallel Advisors LLC bought a new stake in Amcor during the first quarter worth about $183,000. Institutional investors own 45.14% of the company’s stock.

Amcor Trading Down 0.4%

NYSE:AMCR opened at $44.96 on Friday. The stock has a market cap of $20.79 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 1.41 and a beta of 0.62. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. The company’s 50 day moving average price is $41.89 and its 200-day moving average price is $42.33. Amcor PLC has a 52 week low of $36.25 and a 52 week high of $50.94.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.96. The company had revenue of $5.91 billion during 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 revenue for the quarter was up 77.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.90 EPS. On average, equities research analysts forecast that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th were paid a $0.65 dividend. The ex-dividend date was Thursday, May 28th. This represents a $2.60 annualized dividend and a dividend yield of 5.8%. Amcor’s payout ratio is currently 181.82%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AMCR. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Citigroup lowered 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. Wells Fargo & Company set a $43.00 target price on Amcor and gave the stock an “equal weight” rating in a research note on Wednesday, July 15th. Bank of America raised their price target on Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. lowered their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $48.08.

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.