Retirement Systems of Alabama Reduces Holdings in Amcor plc (NYSE:AMCR)

Retirement Systems of Alabama reduced its stake in shares of Amcor plc (NYSE:AMCR) by 1.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 314,892 shares of the company’s stock after selling 3,937 shares during the quarter. Retirement Systems of Alabama’s holdings in Amcor were worth $3,568,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMCR. Fifth Third Wealth Advisors LLC acquired a new position in shares of Amcor in the second quarter worth $119,000. Verdence Capital Advisors LLC lifted its holdings in Amcor by 4.3% in the 2nd quarter. Verdence Capital Advisors LLC now owns 112,765 shares of the company’s stock valued at $1,103,000 after purchasing an additional 4,688 shares in the last quarter. AlphaStar Capital Management LLC grew its holdings in shares of Amcor by 37.9% during the second quarter. AlphaStar Capital Management LLC now owns 35,984 shares of the company’s stock worth $352,000 after buying an additional 9,895 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Amcor by 3.9% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 101,928 shares of the company’s stock valued at $997,000 after buying an additional 3,828 shares during the last quarter. Finally, Lester Murray Antman dba SimplyRich boosted its position in Amcor by 10.0% during the second quarter. Lester Murray Antman dba SimplyRich now owns 57,933 shares of the company’s stock worth $566,000 after acquiring an additional 5,266 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

AMCR stock opened at $9.40 on Friday. The company has a market cap of $13.59 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. The stock has a 50-day moving average price of $10.48 and a two-hundred day moving average price of $10.51. Amcor plc has a 12-month low of $8.78 and a 12-month high of $11.48.

Amcor (NYSE:AMCR) last issued its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the business earned $0.16 EPS. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. As a group, research analysts predict that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st were given a $0.1275 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.51 annualized dividend and a dividend yield of 5.43%. This is a positive change from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio is presently 96.23%.

Analyst Ratings Changes

AMCR has been the topic of several analyst reports. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Wells Fargo & Company lifted their price target on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Finally, Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective on the stock in a report on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amcor presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.20.

Amcor Profile

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.