Public Employees Retirement System of Ohio Sells 559,551 Shares of Amcor PLC $AMCR

Public Employees Retirement System of Ohio lowered its position in Amcor PLC (NYSE:AMCR) by 80.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 134,170 shares of the company’s stock after selling 559,551 shares during the period. Public Employees Retirement System of Ohio’s holdings in Amcor were worth $5,333,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Capital International Investors acquired a new position in Amcor in the 4th quarter worth $354,227,000. Norges Bank bought a new position in shares of Amcor during the 4th quarter worth approximately $308,724,000. AQR Capital Management LLC lifted its position in shares of Amcor by 398.6% in the second quarter. AQR Capital Management LLC now owns 16,015,722 shares of the company’s stock worth $147,184,000 after purchasing an additional 12,803,785 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Amcor in the fourth quarter valued at $103,713,000. Finally, Invesco Ltd. lifted its position in Amcor by 29.9% during the 3rd quarter. Invesco Ltd. now owns 47,111,558 shares of the company’s stock worth $385,373,000 after buying an additional 10,846,351 shares in the last quarter. 45.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on AMCR. Deutsche Bank Aktiengesellschaft started coverage on Amcor in a research report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price target for the company. BMO Capital Markets started coverage on Amcor in a report on Thursday, July 16th. They set a “market perform” rating and a $47.00 price target for the company. Wells Fargo & Company set a $43.00 price objective on Amcor and gave the company an “equal weight” rating in a research note on Wednesday, July 15th. Bank of America lifted their target price on Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.08.

Amcor Trading Down 1.8%

Shares of NYSE:AMCR opened at $45.87 on Thursday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. Amcor PLC has a 1 year low of $36.25 and a 1 year high of $50.94. The company has a market capitalization of $21.21 billion, a P/E ratio of 32.08, a P/E/G ratio of 1.46 and a beta of 0.62. The business’s 50 day simple moving average is $41.62 and its 200 day simple moving average is $42.30.

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

Amcor Announces Dividend

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 5.7%. Amcor’s dividend payout ratio (DPR) is presently 181.82%.

Amcor Company 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.