Oregon Public Employees Retirement Fund Sells 211,514 Shares of Amcor PLC $AMCR

Oregon Public Employees Retirement Fund reduced its stake in Amcor PLC (NYSE:AMCR) by 80.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 52,928 shares of the company’s stock after selling 211,514 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Amcor were worth $2,104,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of AMCR. Capital International Investors bought a new position in Amcor in the 4th quarter worth $354,227,000. Norges Bank purchased a new position in shares of Amcor in the fourth quarter valued at $308,724,000. AQR Capital Management LLC grew its stake in shares of Amcor by 398.6% in the 2nd quarter. AQR Capital Management LLC now owns 16,015,722 shares of the company’s stock worth $147,184,000 after buying an additional 12,803,785 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Amcor during the 4th quarter valued at $103,713,000. Finally, Invesco Ltd. boosted its stake in Amcor by 29.9% during the third quarter. Invesco Ltd. now owns 47,111,558 shares of the company’s stock worth $385,373,000 after buying an additional 10,846,351 shares during the period. Institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

Shares of Amcor stock traded up $0.48 on Friday, reaching $43.18. The company’s stock had a trading volume of 2,267,386 shares, compared to its average volume of 3,111,503. Amcor PLC has a 52-week low of $36.25 and a 52-week high of $50.94. The company has a market capitalization of $19.96 billion, a P/E ratio of 30.19, a PEG ratio of 1.22 and a beta of 0.62. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. The stock has a 50-day moving average price of $40.21 and a 200-day moving average price of $42.11.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting the consensus estimate of $0.96. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The company’s revenue for the quarter was up 77.4% on a year-over-year basis. Analysts expect that Amcor PLC will post 3.97 EPS for the current year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend was Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is 181.82%.

Analyst Upgrades and Downgrades

AMCR has been the subject of several analyst reports. Truist Financial restated a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Citigroup cut their price objective on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. JPMorgan Chase & Co. lowered their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft started coverage on Amcor in a research note on Wednesday, April 1st. They set a “buy” rating and a $50.00 price target on the stock. Finally, Wells Fargo & Company set a $41.00 price target on shares of Amcor and gave the company an “equal weight” rating in a report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.