Amcor PLC $AMCR Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its stake in Amcor PLC (NYSE:AMCR) by 80.0% in the 1st quarter, HoldingsChannel reports. The fund owned 107,630 shares of the company’s stock after selling 429,307 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Amcor were worth $4,278,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in AMCR. AdvisorNet Financial Inc acquired a new stake in Amcor in the first quarter worth approximately $25,000. DV Equities LLC acquired a new position in shares of Amcor during the 4th quarter valued at $27,000. Brown Lisle Cummings Inc. increased its position 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 raised its stake in shares of 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 buying an additional 1,257 shares in the last quarter. Finally, N.E.W. Advisory Services LLC raised its stake in shares of 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 buying an additional 373 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Price Performance

Shares of NYSE:AMCR opened at $43.41 on Thursday. The company has a market capitalization of $20.07 billion, a PE ratio of 30.36, a price-to-earnings-growth ratio of 1.21 and a beta of 0.62. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. The stock has a fifty day moving average of $40.47 and a 200-day moving average of $42.14. Amcor PLC has a one year low of $36.25 and a one year high of $50.94.

Amcor (NYSE:AMCR) last issued its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.96. The business had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The company’s quarterly revenue was up 77.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.90 EPS. As a group, equities analysts anticipate that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were paid a $0.65 dividend. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a yield of 6.0%. Amcor’s dividend payout ratio (DPR) is currently 181.82%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Bank of America boosted their price target on shares of Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. cut their price target on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Wells Fargo & Company set a $43.00 price objective on shares of Amcor and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Amcor in a research note on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $48.56.

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.