Kentucky Retirement Systems Reduces Holdings in Amcor plc (NYSE:AMCR)

Kentucky Retirement Systems reduced its position in Amcor plc (NYSE:AMCR) by 7.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in shares of Amcor in the third quarter worth about $35,000. ORG Wealth Partners LLC acquired a new position in shares of Amcor in the 3rd quarter valued at approximately $35,000. Quent Capital LLC boosted its stake 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 buying an additional 1,241 shares during the last quarter. Signaturefd LLC grew its position in shares of Amcor by 296.3% during the third quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock worth $49,000 after buying an additional 3,242 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Amcor by 132.8% in the first quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after buying an additional 2,519 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Amcor Stock Down 0.6 %

AMCR stock opened at $10.16 on Tuesday. The firm has a market cap of $14.68 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 1.84 and a beta of 0.85. Amcor plc has a 1-year low of $8.78 and a 1-year high of $11.48. The firm has a fifty day moving average price of $10.90 and a two-hundred day moving average price of $10.50. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74.

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

Amcor Increases Dividend

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