New York State Teachers Retirement System Has $11.34 Million Stock Holdings in Amcor PLC (NYSE:AMCR)

New York State Teachers Retirement System decreased its holdings in shares of Amcor PLC (NYSE:AMCR) by 2.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,169,110 shares of the company’s stock after selling 25,514 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Amcor worth $11,340,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in AMCR. Vanguard Group Inc. boosted its stake in Amcor by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company’s stock worth $555,064,000 after acquiring an additional 1,249,868 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Amcor by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 36,856,793 shares of the company’s stock worth $345,952,000 after purchasing an additional 539,756 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Amcor by 16.0% in the 4th quarter. Invesco Ltd. now owns 30,425,121 shares of the company’s stock valued at $286,300,000 after buying an additional 4,199,209 shares during the period. Wellington Management Group LLP increased its position in shares of Amcor by 25.1% in the 4th quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company’s stock valued at $263,215,000 after buying an additional 5,614,233 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Amcor by 11.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 18,700,717 shares of the company’s stock worth $175,967,000 after buying an additional 1,886,794 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on AMCR shares. Truist Financial decreased their target price on Amcor from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Raymond James Financial initiated coverage on Amcor in a report on Tuesday, April 22nd. They set a “market perform” rating on the stock. Wells Fargo & Company began coverage on Amcor in a research note on Thursday, June 26th. They set an “overweight” rating and a $10.00 target price for the company. UBS Group raised shares of Amcor from a “neutral” rating to a “buy” rating in a research note on Thursday, June 26th. Finally, Jefferies Financial Group initiated coverage on shares of Amcor in a research report on Wednesday. They set a “buy” rating and a $12.00 price objective for the company. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Amcor presently has an average rating of “Moderate Buy” and an average price target of $11.30.

Amcor Stock Performance

Shares of AMCR stock opened at $9.57 on Friday. Amcor PLC has a 12 month low of $8.37 and a 12 month high of $11.48. The company’s fifty day simple moving average is $9.20 and its 200-day simple moving average is $9.51. The firm has a market cap of $13.82 billion, a PE ratio of 17.08, a P/E/G ratio of 2.34 and a beta of 0.73. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 2.24.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. Amcor had a net margin of 5.99% and a return on equity of 26.49%. The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same period in the previous year, the business earned $0.13 EPS. The company’s revenue was down 2.3% compared to the same quarter last year. Equities research analysts expect that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd were paid a $0.1275 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a yield of 5.33%. Amcor’s dividend payout ratio is 91.07%.

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.