Healthcare of Ontario Pension Plan Trust Fund Has $31.86 Million Stock Holdings in Amcor plc (NYSE:AMCR)

Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Amcor plc (NYSE:AMCR) by 39,411.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,811,600 shares of the company’s stock after purchasing an additional 2,804,484 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.19% of Amcor worth $31,855,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. M&G Plc grew its stake in Amcor by 2,741.7% in the 2nd quarter. M&G Plc now owns 47,164,358 shares of the company’s stock valued at $471,644,000 after buying an additional 45,504,608 shares during the last quarter. M&G PLC grew its stake in Amcor by 5.9% in the 3rd quarter. M&G PLC now owns 49,940,152 shares of the company’s stock valued at $549,342,000 after buying an additional 2,775,794 shares during the last quarter. AQR Capital Management LLC grew its stake in Amcor by 356.1% in the 2nd quarter. AQR Capital Management LLC now owns 2,930,317 shares of the company’s stock valued at $28,659,000 after buying an additional 2,287,826 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Amcor by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock valued at $489,348,000 after buying an additional 1,960,308 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Amcor by 11.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,721,829 shares of the company’s stock valued at $143,989,000 after buying an additional 1,527,492 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AMCR. Wells Fargo & Company upped their price target on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Robert W. Baird increased their target price on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday. Citigroup increased their target price 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 target price 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 equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.94.

Amcor Stock Performance

Shares of Amcor stock opened at $10.50 on Thursday. The company has a 50 day moving average of $10.82 and a 200-day moving average of $10.51. Amcor plc has a 1-year low of $8.78 and a 1-year high of $11.48. 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 company has a market cap of $15.17 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85.

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

Amcor Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend is Thursday, November 21st. This is an increase from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio is 96.23%.

Amcor Company 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.