Teachers Retirement System of The State of Kentucky Sells 3,323 Shares of Amcor plc (NYSE:AMCR)

Teachers Retirement System of The State of Kentucky reduced its position in Amcor plc (NYSE:AMCR) by 2.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,978 shares of the company’s stock after selling 3,323 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Amcor were worth $1,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Riverview Trust Co bought a new position in Amcor in the 1st quarter worth $28,000. Quent Capital LLC boosted its stake in shares of Amcor by 51.8% in the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after acquiring an additional 1,241 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Amcor by 132.8% during the first 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. UMB Bank n.a. raised its stake in Amcor by 38.7% during the 2nd quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock valued at $46,000 after purchasing an additional 1,299 shares during the period. Finally, ORG Partners LLC purchased a new position in Amcor in the 2nd quarter worth approximately $47,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AMCR. Wells Fargo & Company lifted their price objective on shares of Amcor from $9.80 to $10.50 and gave the company an “equal weight” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. lifted their price target on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Robert W. Baird increased their price objective on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Stifel Nicolaus began coverage on Amcor in a research report on Tuesday, July 9th. They set a “hold” rating and a $10.80 price objective for the company. Finally, Citigroup boosted their target price on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.73.

Amcor Stock Performance

Amcor stock opened at $11.20 on Friday. The company’s 50-day moving average price is $10.95 and its 200-day moving average price is $10.15. The company has a quick ratio of 0.69, a current ratio of 1.17 and a debt-to-equity ratio of 1.67. The company has a market cap of $16.19 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 2.73 and a beta of 0.85. Amcor plc has a twelve month low of $8.45 and a twelve month high of $11.48.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Thursday, August 15th. The company reported $0.21 earnings per share for the quarter, hitting the consensus estimate of $0.21. The company had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Amcor had a return on equity of 25.45% and a net margin of 5.35%. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 earnings per share. On average, equities research analysts forecast that Amcor plc will post 0.75 EPS for the current fiscal year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, September 6th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend was Friday, September 6th. Amcor’s payout ratio is 111.11%.

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.