New York State Teachers Retirement System Has $11.65 Million Stake in Amcor plc (NYSE:AMCR)

New York State Teachers Retirement System lowered its holdings in Amcor plc (NYSE:AMCR) by 4.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,190,917 shares of the company’s stock after selling 59,103 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Amcor worth $11,647,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Riverview Trust Co acquired a new stake in Amcor during the first quarter worth approximately $28,000. Quent Capital LLC lifted its position in shares of Amcor by 51.8% during the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after acquiring an additional 1,241 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Amcor by 132.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after purchasing an additional 2,519 shares in the last quarter. ORG Partners LLC bought a new position in shares of Amcor in the second quarter worth $47,000. Finally, Eagle Bay Advisors LLC raised its stake in Amcor by 55.5% in the fourth quarter. Eagle Bay Advisors LLC now owns 7,787 shares of the company’s stock valued at $75,000 after purchasing an additional 2,779 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AMCR shares. JPMorgan Chase & Co. increased their price objective on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Citigroup boosted their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday. Stifel Nicolaus initiated coverage on Amcor in a research report on Tuesday, July 9th. They issued a “hold” rating and a $10.80 target price on the stock. Wells Fargo & Company increased their target price on shares of Amcor from $9.80 to $10.50 and gave the stock an “equal weight” rating in a report on Friday, August 16th. Finally, Robert W. Baird lifted their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $10.73.

Amcor Trading Up 1.6 %

AMCR traded up $0.17 during trading on Friday, reaching $11.10. 6,317,772 shares of the company’s stock were exchanged, compared to its average volume of 9,304,008. The firm has a fifty day moving average price of $10.19 and a two-hundred day moving average price of $9.73. The stock has a market capitalization of $16.04 billion, a PE ratio of 24.67, a price-to-earnings-growth ratio of 4.64 and a beta of 0.86. Amcor plc has a one year low of $8.45 and a one year high of $11.11. The company has a current ratio of 1.29, a quick ratio of 0.75 and a debt-to-equity ratio of 1.76.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Thursday, August 15th. The company reported $0.21 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.21. Amcor had a return on equity of 24.66% and a net margin of 4.75%. The business had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the business posted $0.19 earnings per share. Amcor’s quarterly revenue was down 3.8% on a year-over-year basis. As a group, equities research analysts forecast that Amcor plc will post 0.7 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, September 6th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date of this dividend is Thursday, September 5th. Amcor’s dividend payout ratio is presently 111.11%.

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.