Louisiana State Employees Retirement System Makes New $934,000 Investment in Amcor PLC $AMCR

Louisiana State Employees Retirement System acquired a new position in shares of Amcor PLC (NYSE:AMCR) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 23,500 shares of the company’s stock, valued at approximately $934,000.

Several other hedge funds also recently modified their holdings of the stock. State Street Corp boosted its position in Amcor by 1.7% during the fourth quarter. State Street Corp now owns 141,509,581 shares of the company’s stock valued at $1,180,190,000 after purchasing an additional 2,432,340 shares during the last quarter. M&G PLC increased its position in shares of Amcor by 6.1% during the 4th quarter. M&G PLC now owns 114,989,595 shares of the company’s stock worth $919,917,000 after purchasing an additional 6,655,611 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Amcor by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock worth $945,222,000 after purchasing an additional 1,845,627 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Amcor by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 84,095,399 shares of the company’s stock worth $701,356,000 after purchasing an additional 2,036,667 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Amcor by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 64,202,708 shares of the company’s stock valued at $533,487,000 after buying an additional 262,418 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Performance

NYSE:AMCR opened at $44.98 on Monday. The stock has a market cap of $20.80 billion, a P/E ratio of 31.46, a PEG ratio of 1.27 and a beta of 0.62. The stock has a 50 day simple moving average of $39.75 and a 200 day simple moving average of $42.05. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30. Amcor PLC has a 1-year low of $36.25 and a 1-year high of $50.94.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, meeting analysts’ consensus estimates of $0.96. The firm had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The company’s revenue for the quarter was up 77.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 EPS. Research analysts anticipate that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were paid a $0.65 dividend. The ex-dividend date was Thursday, May 28th. This represents a $2.60 annualized dividend and a dividend yield of 5.8%. Amcor’s dividend payout ratio is 181.82%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft began coverage on shares of Amcor in a research note on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price target for the company. Citigroup lowered their price objective on shares of Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. JPMorgan Chase & Co. dropped their target price on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Finally, Wells Fargo & Company set a $41.00 target price on shares of Amcor and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Amcor currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

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.