California State Teachers Retirement System Lowers Position in Amcor plc (NYSE:AMCR)

California State Teachers Retirement System reduced its stake in Amcor plc (NYSE:AMCR) by 2.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,092,872 shares of the company’s stock after selling 49,364 shares during the period. California State Teachers Retirement System’s holdings in Amcor were worth $19,903,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. NorthRock Partners LLC raised its holdings in shares of Amcor by 2.0% in the 1st quarter. NorthRock Partners LLC now owns 54,237 shares of the company’s stock valued at $516,000 after buying an additional 1,050 shares during the period. Wealth Alliance lifted its holdings in Amcor by 1.9% during the 4th quarter. Wealth Alliance now owns 55,592 shares of the company’s stock worth $536,000 after buying an additional 1,061 shares in the last quarter. Czech National Bank boosted its position in Amcor by 0.5% in the 1st quarter. Czech National Bank now owns 254,309 shares of the company’s stock valued at $2,418,000 after buying an additional 1,166 shares during the period. Global Retirement Partners LLC increased its position in shares of Amcor by 17.0% during the fourth quarter. Global Retirement Partners LLC now owns 8,397 shares of the company’s stock worth $80,000 after acquiring an additional 1,222 shares during the period. Finally, MV Capital Management Inc. raised its stake in shares of Amcor by 33.7% in the fourth quarter. MV Capital Management Inc. now owns 5,193 shares of the company’s stock valued at $50,000 after acquiring an additional 1,310 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Stock Down 0.2 %

Shares of NYSE:AMCR traded down $0.02 on Thursday, hitting $10.51. 738,170 shares of the company’s stock were exchanged, compared to its average volume of 8,973,210. Amcor plc has a 1-year low of $8.45 and a 1-year high of $10.62. The company has a market capitalization of $15.19 billion, a PE ratio of 23.40, a P/E/G ratio of 4.63 and a beta of 0.86. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.75 and a current ratio of 1.29. The firm’s 50-day moving average is $9.97 and its 200 day moving average is $9.60.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. Amcor had a return on equity of 24.66% and a net margin of 4.75%. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.49 billion. During the same period in the prior year, the company posted $0.18 earnings per share. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. Sell-side analysts predict that Amcor plc will post 0.7 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on the company. Stifel Nicolaus started coverage on Amcor in a research note on Tuesday, July 9th. They set a “hold” rating and a $10.80 target price for the company. JPMorgan Chase & Co. upped their target price on shares of Amcor from $9.90 to $10.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company began coverage on shares of Amcor in a research note on Friday, June 28th. They issued an “equal weight” rating and a $9.80 price target for the company. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.15.

Amcor 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.