Louisiana State Employees Retirement System Has $731,000 Stock Holdings in Amcor plc (NYSE:AMCR)

Louisiana State Employees Retirement System lowered its stake in Amcor plc (NYSE:AMCR) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,700 shares of the company’s stock after selling 3,700 shares during the period. Louisiana State Employees Retirement System’s holdings in Amcor were worth $731,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AMCR. Creative Planning boosted its position in Amcor by 9.3% in the third quarter. Creative Planning now owns 117,518 shares of the company’s stock valued at $1,331,000 after buying an additional 10,029 shares in the last quarter. Vontobel Holding Ltd. boosted its position in Amcor by 10.1% in the third quarter. Vontobel Holding Ltd. now owns 23,417 shares of the company’s stock valued at $265,000 after buying an additional 2,140 shares in the last quarter. Blue Trust Inc. boosted its position in Amcor by 514.1% in the third quarter. Blue Trust Inc. now owns 10,353 shares of the company’s stock valued at $117,000 after buying an additional 8,667 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in Amcor by 9.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 11,646 shares of the company’s stock valued at $132,000 after buying an additional 1,023 shares in the last quarter. Finally, Signaturefd LLC boosted its position in Amcor by 296.3% in the third quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock valued at $49,000 after buying an additional 3,242 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Price Performance

Shares of NYSE AMCR opened at $10.16 on Wednesday. Amcor plc has a twelve month low of $8.80 and a twelve month high of $11.48. The firm has a fifty day simple moving average of $9.70 and a 200 day simple moving average of $10.43. The company has a market capitalization of $14.68 billion, a PE ratio of 18.46, 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 announced its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the firm earned $0.09 earnings per share. Amcor’s quarterly revenue was down .3% on a year-over-year basis. On average, sell-side analysts forecast that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be paid a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 5.02%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor’s dividend payout ratio (DPR) is currently 92.73%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AMCR shares. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and lifted their price target for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Finally, Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $11.46.

About Amcor

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.