Korea Investment CORP Purchases 366,690 Shares of Amcor PLC $AMCR

Korea Investment CORP boosted its holdings in Amcor PLC (NYSE:AMCR) by 28.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,633,951 shares of the company’s stock after acquiring an additional 366,690 shares during the quarter. Korea Investment CORP owned 0.11% of Amcor worth $15,016,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of AMCR. Farther Finance Advisors LLC increased its holdings in Amcor by 5.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 20,689 shares of the company’s stock worth $190,000 after buying an additional 1,035 shares in the last quarter. Rothschild Investment LLC lifted its stake in Amcor by 4.2% during the 2nd quarter. Rothschild Investment LLC now owns 26,179 shares of the company’s stock valued at $241,000 after acquiring an additional 1,049 shares during the period. South Dakota Investment Council boosted its holdings in shares of Amcor by 6.6% during the 2nd quarter. South Dakota Investment Council now owns 19,302 shares of the company’s stock valued at $177,000 after acquiring an additional 1,202 shares during the last quarter. Private Trust Co. NA grew its stake in shares of Amcor by 4.8% in the second quarter. Private Trust Co. NA now owns 28,611 shares of the company’s stock worth $263,000 after acquiring an additional 1,310 shares during the period. Finally, ORG Partners LLC raised its holdings in shares of Amcor by 17.2% during the second quarter. ORG Partners LLC now owns 10,262 shares of the company’s stock valued at $98,000 after purchasing an additional 1,506 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

Shares of Amcor stock opened at $8.54 on Friday. The stock has a market cap of $19.68 billion, a P/E ratio of 23.71, a P/E/G ratio of 1.14 and a beta of 0.72. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.71 and a current ratio of 1.21. The stock’s fifty day moving average is $8.21 and its 200 day moving average is $8.79. Amcor PLC has a one year low of $7.66 and a one year high of $10.70.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. Amcor had a return on equity of 19.43% and a net margin of 3.40%.The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.77 billion. During the same quarter in the prior year, the business posted $0.16 earnings per share. The business’s quarterly revenue was up 71.3% on a year-over-year basis. Sell-side analysts anticipate that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Friday, November 28th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date is Friday, November 28th. This is a positive change from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio (DPR) is 152.94%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Morgan Stanley restated an “overweight” rating and issued a $11.50 target price on shares of Amcor in a report on Wednesday, November 12th. Stifel Nicolaus raised Amcor from a “hold” rating to a “buy” rating and set a $10.20 price objective for the company in a report on Friday, October 10th. The Goldman Sachs Group initiated coverage on Amcor in a report on Wednesday, September 10th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. began coverage on Amcor in a research report on Friday, September 19th. They issued an “overweight” rating and a $10.00 target price on the stock. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Amcor in a research note on Wednesday, October 8th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.91.

Amcor Company 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.