Amcor plc (NYSE:AMCR) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its holdings in Amcor plc (NYSE:AMCR) by 1.2% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 314,892 shares of the company’s stock after selling 3,937 shares during the period. Retirement Systems of Alabama’s holdings in Amcor were worth $3,568,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AMCR. Larson Financial Group LLC raised its stake in Amcor by 3,410.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after acquiring an additional 2,319 shares during the last quarter. Rise Advisors LLC purchased a new stake in shares of Amcor during the third quarter worth approximately $35,000. ORG Wealth Partners LLC purchased a new stake in shares of Amcor during the third quarter worth approximately $35,000. True Wealth Design LLC lifted its holdings in shares of Amcor by 3,794.1% during the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after purchasing an additional 3,225 shares during the period. Finally, Signaturefd LLC grew its position in Amcor by 296.3% in the 3rd quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock valued at $49,000 after buying an additional 3,242 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Wells Fargo & Company boosted their target price on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.20.

Amcor Trading Down 0.4 %

Shares of AMCR opened at $9.40 on Friday. Amcor plc has a twelve month low of $8.78 and a twelve month high of $11.48. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $13.59 billion, a P/E ratio of 17.74, a PEG ratio of 1.80 and a beta of 0.82. The firm’s 50-day moving average is $10.48 and its two-hundred day moving average is $10.51.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The company’s revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 EPS. On average, research analysts predict that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st were paid a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 5.43%. The ex-dividend date was Thursday, November 21st. This is an increase from Amcor’s previous quarterly dividend of $0.13. Amcor’s payout ratio is 96.23%.

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.