Kentucky Retirement Systems Has $935,000 Stock Position in Amcor plc (NYSE:AMCR)

Kentucky Retirement Systems reduced its holdings in Amcor plc (NYSE:AMCR) by 1.4% in the 4th quarter, HoldingsChannel reports. The fund owned 99,322 shares of the company’s stock after selling 1,368 shares during the period. Kentucky Retirement Systems’ holdings in Amcor were worth $935,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. M&G PLC increased its position in shares of Amcor by 5.9% during the third quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after buying an additional 2,775,794 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Amcor by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock worth $489,348,000 after buying an additional 1,960,308 shares during the period. Geode Capital Management LLC increased its position in shares of Amcor by 2.0% during the third quarter. Geode Capital Management LLC now owns 36,317,037 shares of the company’s stock worth $410,144,000 after buying an additional 697,320 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Amcor by 275.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock worth $74,931,000 after buying an additional 4,851,222 shares during the period. Finally, Vest Financial LLC increased its position in shares of Amcor by 7.3% during the fourth quarter. Vest Financial LLC now owns 5,127,348 shares of the company’s stock worth $48,248,000 after buying an additional 348,026 shares during the period. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AMCR shares. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a report on Wednesday, December 11th. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and raised their price target for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Finally, Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $11.46.

Amcor Stock Up 0.0 %

Amcor stock opened at $10.26 on Tuesday. Amcor plc has a 1-year low of $8.80 and a 1-year high of $11.48. The firm has a market capitalization of $14.82 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 1.99 and a beta of 0.84. The firm’s fifty day moving average price is $9.73 and its two-hundred day moving average price is $10.42. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period last year, the firm earned $0.09 earnings per share. The business’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities research analysts predict that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be paid a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date is Wednesday, February 26th. Amcor’s dividend payout ratio (DPR) is 92.73%.

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.