New York State Teachers Retirement System Decreases Stake in Amcor PLC $AMCR

New York State Teachers Retirement System decreased its position in shares of Amcor PLC (NYSE:AMCR) by 79.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 330,652 shares of the company’s stock after selling 1,278,111 shares during the quarter. New York State Teachers Retirement System owned 0.07% of Amcor worth $13,143,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. N.E.W. Advisory Services LLC raised its holdings in shares of Amcor by 10.1% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock worth $34,000 after purchasing an additional 373 shares during the last quarter. CYBER HORNET ETFs LLC raised its stake in shares of Amcor by 11.1% during the 4th quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company’s stock valued at $37,000 after buying an additional 447 shares during the last quarter. FineMark National Bank & Trust lifted its holdings in shares of Amcor by 0.6% in the 4th quarter. FineMark National Bank & Trust now owns 80,503 shares of the company’s stock valued at $671,000 after buying an additional 503 shares during the period. United Asset Strategies Inc. boosted its stake in shares of Amcor by 1.6% in the fourth quarter. United Asset Strategies Inc. now owns 38,453 shares of the company’s stock worth $321,000 after buying an additional 597 shares during the last quarter. Finally, AdvisorNet Financial Inc acquired a new stake in Amcor during the first quarter worth about $25,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Stock Down 0.0%

Shares of NYSE AMCR opened at $44.98 on Monday. The company’s 50-day simple moving average is $39.75 and its 200-day simple moving average is $42.05. Amcor PLC has a 52-week low of $36.25 and a 52-week high of $50.94. The firm has a market cap of $20.80 billion, a price-to-earnings ratio of 31.46, a price-to-earnings-growth ratio of 1.27 and a beta of 0.62. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30.

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

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th were given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is 181.82%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AMCR shares. JPMorgan Chase & Co. lowered their price objective on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Truist Financial restated a “buy” rating and set a $51.00 price target (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Citigroup lowered their target price on shares of Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Amcor in a report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

Amcor Company Profile

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.