Amcor plc (NYSE:AMCR) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System decreased its position in shares of Amcor plc (NYSE:AMCR – Get Rating) by 1.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,477,403 shares of the company’s stock after selling 41,628 shares during the quarter. California State Teachers Retirement System owned 0.17% of Amcor worth $26,583,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Amcor by 8.5% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,483,868 shares of the company’s stock valued at $58,842,000 after acquiring an additional 430,241 shares during the period. Fifth Third Bancorp lifted its holdings in Amcor by 9.9% in the third quarter. Fifth Third Bancorp now owns 41,639 shares of the company’s stock valued at $447,000 after acquiring an additional 3,755 shares during the period. NewEdge Wealth LLC acquired a new position in Amcor in the second quarter valued at approximately $516,000. Credit Suisse AG lifted its holdings in Amcor by 11.7% in the second quarter. Credit Suisse AG now owns 2,677,402 shares of the company’s stock valued at $33,280,000 after acquiring an additional 279,616 shares during the period. Finally, Coston McIsaac & Partners acquired a new position in Amcor in the second quarter valued at approximately $2,689,000. Institutional investors and hedge funds own 46.79% of the company’s stock.

Amcor Stock Down 0.8 %

Amcor stock opened at $10.70 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.33 and a quick ratio of 0.76. Amcor plc has a 12 month low of $10.42 and a 12 month high of $13.60. The stock has a market capitalization of $15.90 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 3.20 and a beta of 0.81. The business has a 50 day simple moving average of $11.51 and a 200-day simple moving average of $11.61.

Amcor (NYSE:AMCR – Get Rating) last issued its quarterly earnings results on Tuesday, February 7th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. Amcor had a return on equity of 28.65% and a net margin of 7.14%. The firm had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.64 billion. On average, analysts anticipate that Amcor plc will post 0.77 EPS for the current fiscal year.

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 21st. Investors of record on Wednesday, March 1st will be given a dividend of $0.1225 per share. This represents a $0.49 annualized dividend and a dividend yield of 4.58%. The ex-dividend date is Tuesday, February 28th. Amcor’s payout ratio is 68.06%.

Wall Street Analyst Weigh In

AMCR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut Amcor from an “overweight” rating to a “neutral” rating and set a $11.70 price objective for the company. in a research report on Tuesday, January 24th. Morgan Stanley cut Amcor from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, February 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $12.00.

Amcor Profile

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Amcor Plc operates as a holding company, which engages in the consumer packaging business. It operates through the Flexibles and Rigid Packaging segments. The Flexibles segment develops and supplies flexible packaging globally. The Rigid Plastics segment manufactures rigid plastic containers and related products.