Kentucky Retirement Systems Sells 1,368 Shares of Amcor plc (NYSE:AMCR)

Kentucky Retirement Systems decreased its stake in shares of Amcor plc (NYSE:AMCR) by 1.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 99,322 shares of the company’s stock after selling 1,368 shares during the period. Kentucky Retirement Systems’ holdings in Amcor were worth $935,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of AMCR. Creative Planning raised its stake in Amcor by 9.3% in the 3rd quarter. Creative Planning now owns 117,518 shares of the company’s stock worth $1,331,000 after purchasing an additional 10,029 shares in the last quarter. Blue Trust Inc. raised its stake in Amcor by 514.1% in the 3rd quarter. Blue Trust Inc. now owns 10,353 shares of the company’s stock worth $117,000 after purchasing an additional 8,667 shares in the last quarter. Signaturefd LLC raised its stake in Amcor by 296.3% in the 3rd quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock worth $49,000 after purchasing an additional 3,242 shares in the last quarter. Private Advisor Group LLC acquired a new stake in Amcor in the 3rd quarter worth about $139,000. Finally, Greenleaf Trust acquired a new stake in Amcor in the 3rd quarter worth about $128,000. Institutional investors own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on AMCR shares. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Finally, Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and upped their price target for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.46.

Amcor Price Performance

Shares of NYSE:AMCR opened at $10.26 on Tuesday. The company has a market cap of $14.82 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 1.99 and a beta of 0.84. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. The firm has a 50 day simple moving average of $9.73 and a 200 day simple moving average of $10.42. Amcor plc has a one year low of $8.80 and a one year high of $11.48.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm’s revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.09 EPS. Research analysts predict that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be paid a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 4.97%. The ex-dividend date is Wednesday, February 26th. Amcor’s payout ratio is 92.73%.

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.