Louisiana State Employees Retirement System Takes $934,000 Position in Amcor PLC $AMCR

Louisiana State Employees Retirement System purchased a new stake in Amcor PLC (NYSE:AMCR) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 23,500 shares of the company’s stock, valued at approximately $934,000.

Other large investors have also added to or reduced their stakes in the company. N.E.W. Advisory Services LLC increased its stake in Amcor by 10.1% during the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock worth $34,000 after acquiring an additional 373 shares during the period. CYBER HORNET ETFs LLC grew its holdings in shares of Amcor by 11.1% during the 4th quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company’s stock worth $37,000 after purchasing an additional 447 shares in the last quarter. FineMark National Bank & Trust increased its position in shares of Amcor by 0.6% in the fourth quarter. FineMark National Bank & Trust now owns 80,503 shares of the company’s stock worth $671,000 after purchasing an additional 503 shares during the period. United Asset Strategies Inc. increased its position in shares of Amcor by 1.6% in the fourth quarter. United Asset Strategies Inc. now owns 38,453 shares of the company’s stock worth $321,000 after purchasing an additional 597 shares during the period. Finally, AdvisorNet Financial Inc acquired a new position in Amcor in the first quarter valued at about $25,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Stock Performance

NYSE:AMCR opened at $44.98 on Monday. The stock’s 50-day simple moving average is $39.75 and its 200 day simple moving average is $42.05. The firm has a market capitalization of $20.80 billion, a PE ratio of 31.46, a price-to-earnings-growth ratio of 1.27 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. Amcor PLC has a twelve month low of $36.25 and a twelve month high of $50.94.

Amcor (NYSE:AMCR) last issued its earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, hitting the consensus estimate of $0.96. The firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The business’s quarterly revenue was up 77.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 earnings per share. On average, analysts anticipate 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. Investors of record on Thursday, May 28th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Thursday, May 28th. Amcor’s dividend payout ratio is currently 181.82%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AMCR shares. Truist Financial reaffirmed a “buy” rating and set a $51.00 price objective (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Wells Fargo & Company set a $41.00 target price on shares of Amcor and gave the company an “equal weight” rating in a research report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft started coverage on shares of Amcor in a report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price target for the company. Citigroup reduced their price target on shares of Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Amcor has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

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.