Amcor plc (NYSE:AMCR) Stake Lowered by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its stake in Amcor plc (NYSE:AMCR) by 4.3% during the 4th quarter, HoldingsChannel reports. The firm owned 318,542 shares of the company’s stock after selling 14,168 shares during the period. Retirement Systems of Alabama’s holdings in Amcor were worth $3,071,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMCR. Vanguard Group Inc. increased its stake in shares of Amcor by 0.6% in the third quarter. Vanguard Group Inc. now owns 56,479,105 shares of the company’s stock valued at $517,349,000 after purchasing an additional 325,747 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Amcor by 2.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 30,621,317 shares of the company’s stock valued at $280,491,000 after acquiring an additional 594,034 shares in the last quarter. Federated Hermes Inc. boosted its position in Amcor by 1.9% during the 4th quarter. Federated Hermes Inc. now owns 25,391,765 shares of the company’s stock worth $244,777,000 after acquiring an additional 468,883 shares during the period. American Century Companies Inc. grew its stake in shares of Amcor by 3.4% in the third quarter. American Century Companies Inc. now owns 22,830,158 shares of the company’s stock worth $209,124,000 after purchasing an additional 748,138 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Amcor by 14.9% during the third quarter. Invesco Ltd. now owns 20,531,344 shares of the company’s stock valued at $188,067,000 after purchasing an additional 2,664,715 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. increased their target price on shares of Amcor from $9.90 to $10.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st.

Amcor Stock Performance

Shares of NYSE AMCR opened at $10.13 on Wednesday. Amcor plc has a 1 year low of $8.45 and a 1 year high of $10.53. The firm has a market cap of $14.63 billion, a P/E ratio of 22.50, a PEG ratio of 5.48 and a beta of 0.79. The stock has a fifty day moving average price of $9.27 and a two-hundred day moving average price of $9.32. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.75 and a current ratio of 1.29.

Amcor (NYSE:AMCR) last announced its earnings results on Tuesday, April 30th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.49 billion. Amcor had a return on equity of 24.66% and a net margin of 4.75%. The company’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the business posted $0.18 earnings per share. Research analysts forecast that Amcor plc will post 0.69 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 22nd will be paid a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $0.50 annualized dividend and a dividend yield of 4.94%. Amcor’s dividend payout ratio is currently 111.11%.

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.