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

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

Several other hedge funds have also added to or reduced their stakes in AMCR. AdvisorNet Financial Inc bought a new position in shares of Amcor during the first quarter valued at $25,000. DV Equities LLC bought a new position in Amcor during the 4th quarter worth $27,000. Brown Lisle Cummings Inc. lifted its holdings in Amcor by 137.9% during the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock worth $29,000 after buying an additional 2,000 shares during the period. Larson Financial Group LLC raised its position in shares of Amcor by 46.1% during the fourth quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock worth $33,000 after acquiring an additional 1,257 shares during the last quarter. Finally, N.E.W. Advisory Services LLC lifted its stake in shares of Amcor by 10.1% in the fourth 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. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Price Performance

NYSE:AMCR opened at $45.87 on Thursday. Amcor PLC has a 52-week low of $36.25 and a 52-week high of $50.94. The stock has a fifty day moving average of $41.62 and a 200 day moving average of $42.30. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. The firm has a market capitalization of $21.21 billion, a price-to-earnings ratio of 32.08, a P/E/G ratio of 1.46 and a beta of 0.62.

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

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Thursday, May 28th. Amcor’s payout ratio is presently 181.82%.

Analysts Set New Price Targets

A number of research firms have weighed in on AMCR. Wells Fargo & Company set a $43.00 target price on shares of Amcor and gave the company an “equal weight” rating in a research report on Wednesday, July 15th. Jefferies Financial Group set a $44.92 target price on shares of Amcor and gave the company a “hold” rating in a research report on Tuesday, July 21st. Truist Financial reaffirmed a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. JPMorgan Chase & Co. dropped their price target 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, Bank of America increased their target price on shares of Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.08.

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.