Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Amcor plc (NYSE:AMCR - Free Report) by 39,411.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,811,600 shares of the company's stock after acquiring an additional 2,804,484 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.19% of Amcor worth $31,855,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Glenmede Trust Co. NA increased its holdings in Amcor by 153.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 84,163 shares of the company's stock worth $954,000 after acquiring an additional 50,949 shares during the last quarter. Townsquare Capital LLC grew its holdings in Amcor by 10.6% during the 3rd quarter. Townsquare Capital LLC now owns 49,105 shares of the company's stock valued at $556,000 after buying an additional 4,700 shares in the last quarter. FMR LLC grew its holdings in Amcor by 5.6% during the 3rd quarter. FMR LLC now owns 2,389,346 shares of the company's stock valued at $27,071,000 after buying an additional 126,844 shares in the last quarter. Qsemble Capital Management LP grew its holdings in Amcor by 677.9% during the 3rd quarter. Qsemble Capital Management LP now owns 122,320 shares of the company's stock valued at $1,386,000 after buying an additional 106,595 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Amcor during the 3rd quarter valued at about $1,215,000. Institutional investors and hedge funds own 45.14% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on AMCR. JPMorgan Chase & Co. lifted their price target on Amcor from $10.00 to $11.10 and gave the company an "overweight" rating in a research report on Tuesday, August 13th. Citigroup boosted their target price on Amcor from $10.00 to $11.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 20th. Macquarie upgraded Amcor from a "neutral" rating to an "outperform" rating in a research report on Wednesday. Wells Fargo & Company boosted their price objective on Amcor from $10.50 to $10.80 and gave the company an "equal weight" rating in a research report on Tuesday, October 15th. Finally, Robert W. Baird boosted their price objective on Amcor from $10.00 to $11.00 and gave the company a "neutral" rating in a research report on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $10.94.
Check Out Our Latest Stock Analysis on AMCR
Amcor Trading Up 1.1 %
Shares of AMCR traded up $0.11 during mid-day trading on Thursday, hitting $10.50. 19,363,937 shares of the company's stock traded hands, compared to its average volume of 9,356,792. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. Amcor plc has a 1 year low of $8.78 and a 1 year high of $11.48. The firm has a market capitalization of $15.18 billion, a P/E ratio of 19.80, a PEG ratio of 1.89 and a beta of 0.85. The business's 50-day moving average price is $10.82 and its 200-day moving average price is $10.51.
Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $3.35 billion for the quarter, compared to analysts' expectations of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The firm's revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.16 earnings per share. As a group, sell-side analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.
Amcor Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be paid a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 4.86%. This is a boost from Amcor's previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, November 21st. Amcor's dividend payout ratio is presently 96.23%.
Amcor Profile
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Free Report)
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.
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