Amcor PLC $AMCR Shares Purchased by National Pension Service

National Pension Service boosted its holdings in Amcor PLC (NYSE:AMCR) by 15.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 696,040 shares of the company’s stock after buying an additional 90,749 shares during the quarter. National Pension Service’s holdings in Amcor were worth $5,805,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Dakota Wealth Management grew its position in Amcor by 74.6% in the fourth quarter. Dakota Wealth Management now owns 345,449 shares of the company’s stock worth $2,881,000 after buying an additional 147,639 shares during the last quarter. PFG Investments LLC acquired a new position in Amcor in the fourth quarter worth approximately $262,000. Vanguard Group Inc. grew its position in Amcor by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock worth $945,222,000 after purchasing an additional 1,845,627 shares in the last quarter. Nordea Investment Management AB grew its position in Amcor by 64.0% during the 4th quarter. Nordea Investment Management AB now owns 242,866 shares of the company’s stock worth $2,034,000 after purchasing an additional 94,753 shares in the last quarter. Finally, Code Waechter LLC grew its position in Amcor by 105.1% during the 4th quarter. Code Waechter LLC now owns 54,113 shares of the company’s stock worth $451,000 after purchasing an additional 27,725 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Trading Down 2.8%

Shares of NYSE:AMCR opened at $37.72 on Tuesday. The firm has a fifty day moving average of $39.43 and a two-hundred day moving average of $42.24. The firm has a market capitalization of $17.44 billion, a P/E ratio of 26.38, a price-to-earnings-growth ratio of 1.17 and a beta of 0.63. Amcor PLC has a 12-month low of $36.25 and a 12-month high of $50.94. 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 (NYSE:AMCR) last issued its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting 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 company’s revenue for the quarter was up 77.4% on a year-over-year basis. During the same quarter last year, the business posted $0.90 EPS. On average, equities analysts expect that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.9%. Amcor’s dividend payout ratio (DPR) is 181.82%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AMCR shares. Robert W. Baird set a $54.00 price objective on shares of Amcor in a research report on Wednesday, February 4th. Wells Fargo & Company set a $41.00 price objective on shares of Amcor and gave the stock an “equal weight” rating in a research report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft started coverage on shares of Amcor in a research report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price objective on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Finally, Citigroup lowered their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Amcor presently has an average rating of “Moderate Buy” and an average price target of $49.33.

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.