Amcor plc (NYSE:AMCR) Stock Position Trimmed by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its position in shares of Amcor plc (NYSE:AMCR) by 7.6% in the third quarter, HoldingsChannel reports. The firm owned 100,690 shares of the company’s stock after selling 8,226 shares during the period. Kentucky Retirement Systems’ holdings in Amcor were worth $1,141,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Amcor by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock worth $539,686,000 after buying an additional 1,170,986 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in Amcor in the first quarter worth about $923,000. Lake Street Advisors Group LLC bought a new position in Amcor in the 1st quarter valued at about $114,000. CreativeOne Wealth LLC bought a new position in Amcor in the 1st quarter valued at about $747,000. Finally, Rodgers Brothers Inc. raised its position in shares of Amcor by 321.5% during the 1st quarter. Rodgers Brothers Inc. now owns 315,156 shares of the company’s stock worth $2,997,000 after buying an additional 240,392 shares in the last quarter. Institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

Shares of NYSE:AMCR opened at $10.16 on Tuesday. The company has a market capitalization of $14.68 billion, a PE ratio of 19.16, a price-to-earnings-growth ratio of 1.84 and a beta of 0.85. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. The stock has a fifty day moving average of $10.90 and a 200-day moving average of $10.50. Amcor plc has a one year low of $8.78 and a one year high of $11.48.

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

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be given a $0.1275 dividend. This is an increase from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 annualized dividend and a dividend yield of 5.02%. The ex-dividend date is Thursday, November 21st. Amcor’s dividend payout ratio (DPR) is 96.23%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Citigroup lifted their price target on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Robert W. Baird upped their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Finally, Wells Fargo & Company lifted their target price on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $10.94.

About Amcor

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.