Canada Pension Plan Investment Board Has $22.44 Million Holdings in Amcor plc (NYSE:AMCR)

Canada Pension Plan Investment Board boosted its stake in Amcor plc (NYSE:AMCR) by 8.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,294,461 shares of the company’s stock after acquiring an additional 176,901 shares during the period. Canada Pension Plan Investment Board owned 0.16% of Amcor worth $22,440,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. M&G Plc lifted its position in shares of Amcor by 2,741.7% during the 2nd quarter. M&G Plc now owns 47,164,358 shares of the company’s stock valued at $471,644,000 after acquiring an additional 45,504,608 shares during the period. Wellington Management Group LLP bought a new position in shares of Amcor during the 4th quarter worth about $155,438,000. Norges Bank acquired a new stake in shares of Amcor in the 4th quarter valued at about $47,669,000. Price T Rowe Associates Inc. MD grew its position in Amcor by 11.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,604,159 shares of the company’s stock valued at $195,946,000 after purchasing an additional 2,086,698 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Amcor by 11.6% during the second quarter. Dimensional Fund Advisors LP now owns 14,721,829 shares of the company’s stock worth $143,989,000 after buying an additional 1,527,492 shares in the last quarter. Institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

Shares of NYSE:AMCR opened at $10.90 on Monday. The company has a quick ratio of 0.69, a current ratio of 1.17 and a debt-to-equity ratio of 1.67. The stock has a market cap of $15.75 billion, a PE ratio of 24.22, a PEG ratio of 2.68 and a beta of 0.85. The company’s fifty day moving average is $10.73 and its 200 day moving average is $10.03. Amcor plc has a 52 week low of $8.45 and a 52 week high of $11.45.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Thursday, August 15th. The company reported $0.21 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.21. Amcor had a return on equity of 25.45% and a net margin of 5.35%. The firm had revenue of $3.54 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the firm posted $0.19 earnings per share. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. Research analysts anticipate that Amcor plc will post 0.75 earnings per share for the current year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, September 6th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 4.59%. The ex-dividend date is Friday, September 6th. Amcor’s dividend payout ratio is currently 111.11%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AMCR. Robert W. Baird upped their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Wells Fargo & Company increased their price objective on Amcor from $9.80 to $10.50 and gave the stock an “equal weight” rating in a research report on Friday, August 16th. Stifel Nicolaus initiated coverage on shares of Amcor in a research report on Tuesday, July 9th. They set a “hold” rating and a $10.80 target price for the company. Citigroup increased their price target on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Amcor currently has an average rating of “Hold” and an average price target of $10.73.

About Amcor

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.