Amcor plc (NYSE:AMCR) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its stake in Amcor plc (NYSE:AMCR) by 7.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 645,445 shares of the company’s stock after selling 49,000 shares during the quarter. New York State Common Retirement Fund’s holdings in Amcor were worth $6,074,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Forum Financial Management LP grew its holdings in Amcor by 7.7% in the third quarter. Forum Financial Management LP now owns 14,761 shares of the company’s stock valued at $167,000 after purchasing an additional 1,058 shares during the last quarter. Prime Capital Investment Advisors LLC grew its position in shares of Amcor by 6.1% in the third quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company’s stock valued at $215,000 after purchasing an additional 1,085 shares during the last quarter. CWA Asset Management Group LLC increased its stake in shares of Amcor by 3.9% during the 4th quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company’s stock worth $304,000 after purchasing an additional 1,213 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its position in shares of Amcor by 11.3% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 13,892 shares of the company’s stock worth $131,000 after purchasing an additional 1,409 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Amcor by 0.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 442,152 shares of the company’s stock valued at $4,161,000 after buying an additional 1,761 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and raised their target price for the stock from $10.00 to $12.00 in a research report on Monday, January 6th. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Finally, Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a research note on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amcor currently has an average rating of “Moderate Buy” and an average target price of $11.46.

Amcor Stock Performance

Amcor stock opened at $10.06 on Friday. The company has a market cap of $14.53 billion, a PE ratio of 18.28, a P/E/G ratio of 1.96 and a beta of 0.84. Amcor plc has a 12 month low of $8.80 and a 12 month high of $11.48. The company has a fifty day moving average price of $9.77 and a two-hundred day moving average price of $10.41. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. Amcor’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 earnings per share. Research analysts expect that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $0.1275 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.07%. Amcor’s dividend payout ratio (DPR) is presently 92.73%.

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.