Healthcare of Ontario Pension Plan Trust Fund Buys 2,804,484 Shares of Amcor plc (NYSE:AMCR)

Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Amcor plc (NYSE:AMCR) by 39,411.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,811,600 shares of the company’s stock after acquiring an additional 2,804,484 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Amcor were worth $31,855,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Lake Street Advisors Group LLC increased its position in Amcor by 8.4% in the 3rd quarter. Lake Street Advisors Group LLC now owns 12,210 shares of the company’s stock valued at $138,000 after acquiring an additional 946 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in Amcor by 9.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 11,646 shares of the company’s stock valued at $132,000 after acquiring an additional 1,023 shares during the period. Forum Financial Management LP increased its position in Amcor by 7.7% in the 3rd quarter. Forum Financial Management LP now owns 14,761 shares of the company’s stock valued at $167,000 after acquiring an additional 1,058 shares during the period. Prime Capital Investment Advisors LLC increased its position in Amcor by 6.1% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company’s stock valued at $215,000 after acquiring an additional 1,085 shares during the period. Finally, Quent Capital LLC increased its position in Amcor by 51.8% in the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after acquiring an additional 1,241 shares during the period. Institutional investors own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AMCR. Robert W. Baird upped their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Wells Fargo & Company increased their price objective on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday. Citigroup increased their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $10.94.

Amcor Trading Up 1.0 %

NYSE:AMCR opened at $10.50 on Thursday. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $15.17 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 1.89 and a beta of 0.85. The firm has a fifty day simple moving average of $10.82 and a two-hundred day simple moving average of $10.51. Amcor plc has a 12 month low of $8.78 and a 12 month high of $11.48.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period last year, the company posted $0.16 earnings per share. Analysts expect that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be paid a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.86%. This is a positive change from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, November 21st. Amcor’s dividend payout ratio (DPR) is 96.23%.

Amcor 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.