Amcor PLC $AMCR Shares Acquired by California Public Employees Retirement System

California Public Employees Retirement System grew its holdings in Amcor PLC (NYSE:AMCR) by 93.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 3,890,928 shares of the company’s stock after acquiring an additional 1,884,162 shares during the quarter. California Public Employees Retirement System owned about 0.27% of Amcor worth $35,758,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in AMCR. Vanguard Group Inc. increased its stake in Amcor by 61.8% in the second quarter. Vanguard Group Inc. now owns 110,228,036 shares of the company’s stock valued at $1,012,996,000 after purchasing an additional 42,122,135 shares during the last quarter. M&G PLC lifted its position in shares of Amcor by 23.4% during the 2nd quarter. M&G PLC now owns 85,596,005 shares of the company’s stock worth $770,364,000 after buying an additional 16,212,783 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Amcor by 62.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 80,770,303 shares of the company’s stock valued at $742,279,000 after buying an additional 30,938,660 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Amcor by 55.3% in the 2nd quarter. Geode Capital Management LLC now owns 58,845,923 shares of the company’s stock valued at $538,551,000 after buying an additional 20,946,520 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Amcor by 8.9% during the 2nd quarter. Invesco Ltd. now owns 36,265,207 shares of the company’s stock worth $333,277,000 after acquiring an additional 2,950,920 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Stock Performance

NYSE AMCR opened at $8.21 on Thursday. The firm has a market cap of $18.92 billion, a P/E ratio of 24.13, a P/E/G ratio of 0.80 and a beta of 0.68. Amcor PLC has a 52-week low of $7.66 and a 52-week high of $10.45. The business’s 50-day moving average price is $8.24 and its 200 day moving average price is $8.74. The company has a quick ratio of 0.62, a current ratio of 1.04 and a debt-to-equity ratio of 1.09.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. The company had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.77 billion. Amcor had a return on equity of 17.35% and a net margin of 3.34%.The firm’s revenue for the quarter was up 71.3% on a year-over-year basis. During the same period last year, the firm earned $0.16 EPS. On average, equities research analysts expect that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Friday, November 28th will be given a $0.13 dividend. This is a positive change from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, November 28th. This represents a $0.52 dividend on an annualized basis and a yield of 6.3%. Amcor’s payout ratio is 152.94%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Royal Bank Of Canada initiated coverage on shares of Amcor in a research note on Monday, September 22nd. They issued a “sector perform” rating for the company. The Goldman Sachs Group started coverage on Amcor in a research report on Wednesday, September 10th. They set a “buy” rating on the stock. JPMorgan Chase & Co. began coverage on Amcor in a research report on Friday, September 19th. They issued an “overweight” rating and a $10.00 target price for the company. Morgan Stanley restated an “overweight” rating and set a $11.50 price target on shares of Amcor in a research note on Wednesday, November 12th. Finally, Wells Fargo & Company cut their price target on Amcor from $11.00 to $9.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 15th. Nine research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Amcor has an average rating of “Moderate Buy” and an average target price of $10.71.

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.