State of Alaska Department of Revenue Has $2.84 Million Stock Holdings in Amcor plc (NYSE:AMCR)

State of Alaska Department of Revenue lowered its holdings in shares of Amcor plc (NYSE:AMCR) by 3.7% in the 4th quarter, HoldingsChannel reports. The firm owned 301,781 shares of the company’s stock after selling 11,480 shares during the period. State of Alaska Department of Revenue’s holdings in Amcor were worth $2,839,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in AMCR. Larson Financial Group LLC grew its position in shares of Amcor by 3,410.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after buying an additional 2,319 shares during the period. Rise Advisors LLC acquired a new stake in Amcor in the third quarter worth $35,000. ORG Wealth Partners LLC bought a new stake in Amcor in the third quarter valued at $35,000. True Wealth Design LLC raised 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 valued at $38,000 after purchasing an additional 3,225 shares during the period. Finally, Signaturefd LLC boosted its position in shares of Amcor by 296.3% during 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. 45.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AMCR has been the subject of a number of research analyst reports. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock in a research note on Wednesday, December 11th. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and boosted their price target for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Wells Fargo & Company raised their price objective 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. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Finally, Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and raised their price target for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.46.

Amcor Price Performance

Amcor stock opened at $10.03 on Monday. Amcor plc has a 52 week low of $8.78 and a 52 week high of $11.48. The company’s 50 day moving average price is $9.74 and its two-hundred day moving average price is $10.44. The stock has a market cap of $14.50 billion, a P/E ratio of 18.24, a P/E/G ratio of 1.92 and a beta of 0.84. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. Amcor’s quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the company posted $0.09 earnings per share. On average, equities analysts predict that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be given a dividend of $0.1275 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 annualized dividend and a yield of 5.08%. Amcor’s payout ratio is currently 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.