Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 16,660 Shares of Amcor PLC $AMCR

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its stake in shares of Amcor PLC (NYSE:AMCR) by 3.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 536,937 shares of the company’s stock after selling 16,660 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.12% of Amcor worth $4,478,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMCR. Brown Lisle Cummings Inc. raised its stake in shares of Amcor by 137.9% during the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after purchasing an additional 2,000 shares during the period. Larson Financial Group LLC increased its stake in Amcor by 46.1% in the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock worth $33,000 after acquiring an additional 1,257 shares during the last quarter. N.E.W. Advisory Services LLC increased its stake in Amcor by 10.1% in the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock worth $34,000 after acquiring an additional 373 shares during the last quarter. CYBER HORNET ETFs LLC bought a new position in Amcor in the 2nd quarter worth about $36,000. Finally, Huntington National Bank increased its stake in Amcor by 81.8% in the 3rd quarter. Huntington National Bank now owns 4,490 shares of the company’s stock worth $37,000 after acquiring an additional 2,020 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Price Performance

Shares of Amcor stock opened at $37.95 on Thursday. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $17.55 billion, a PE ratio of 26.54, a price-to-earnings-growth ratio of 1.16 and a beta of 0.64. The business’s 50-day moving average price is $39.41 and its 200-day moving average price is $42.18. Amcor PLC has a 12 month low of $36.25 and a 12 month high of $50.94.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, meeting the consensus estimate of $0.96. The firm had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The company’s revenue was up 77.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.90 EPS. Sell-side analysts forecast that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th will be given a dividend of $0.65 per share. The ex-dividend date is Thursday, May 28th. This represents a $2.60 annualized dividend and a dividend yield of 6.9%. Amcor’s dividend payout ratio is 181.82%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AMCR shares. Citigroup decreased their target price on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Robert W. Baird set a $54.00 target price on Amcor in a research note on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft started coverage on Amcor in a research note on Wednesday, April 1st. They issued a “buy” rating and a $50.00 target price on the stock. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. decreased their target price on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.33.

About Amcor

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.