Teachers Retirement System of The State of Kentucky Has $1.24 Million Stock Position in Amcor plc (NYSE:AMCR)

Teachers Retirement System of The State of Kentucky lessened its stake in Amcor plc (NYSE:AMCR) by 5.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 109,259 shares of the company’s stock after selling 6,719 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Amcor were worth $1,238,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its stake in shares of Amcor by 3,410.3% in the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after acquiring an additional 2,319 shares during the last quarter. Rise Advisors LLC bought a new stake in Amcor in the third quarter valued at approximately $35,000. ORG Wealth Partners LLC acquired a new stake in Amcor in the third quarter worth $35,000. True Wealth Design LLC grew its holdings in shares of Amcor by 3,794.1% in the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after buying an additional 3,225 shares during the period. Finally, UMB Bank n.a. increased its position in shares of Amcor by 38.7% in the 2nd quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock valued at $46,000 after buying an additional 1,299 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Stock Down 1.2 %

Shares of AMCR stock opened at $9.73 on Wednesday. The firm’s fifty day moving average price is $10.54 and its two-hundred day moving average price is $10.53. Amcor plc has a 1 year low of $8.78 and a 1 year high of $11.48. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $14.06 billion, a P/E ratio of 18.35, a PEG ratio of 1.80 and a beta of 0.82.

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

Amcor Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were given a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 5.24%. The ex-dividend date was Thursday, November 21st. This is an increase from Amcor’s previous quarterly dividend of $0.13. Amcor’s payout ratio is 96.23%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AMCR shares. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Wells Fargo & Company boosted their price objective on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a report on Wednesday, December 11th. Finally, Citigroup boosted their price objective on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.20.

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.