Teachers Retirement System of The State of Kentucky Sells 152,797 Shares of Amcor PLC $AMCR

Teachers Retirement System of The State of Kentucky lowered its stake in Amcor PLC (NYSE:AMCR) by 80.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 38,198 shares of the company’s stock after selling 152,797 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Amcor were worth $1,518,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC grew its position in Amcor by 1,620.5% during the 1st quarter. Hsbc Holdings PLC now owns 672,649 shares of the company’s stock worth $26,592,000 after acquiring an additional 633,554 shares during the last quarter. Ibex Wealth Advisors bought a new stake in Amcor in the first quarter valued at approximately $6,732,000. Greenwood Capital Associates LLC purchased a new stake in shares of Amcor during the first quarter valued at approximately $1,197,000. American Capital Advisory LLC purchased a new stake in shares of Amcor during the first quarter valued at approximately $44,000. Finally, Ascentis Independent Advisors bought a new position in shares of Amcor in the first quarter worth approximately $85,000. Institutional investors own 45.14% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Citigroup dropped their price target on shares of Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Wells Fargo & Company set a $43.00 price target on shares of Amcor and gave the stock an “equal weight” rating in a report on Wednesday. Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Bank of America increased their target price on shares of Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.56.

Amcor Price Performance

AMCR opened at $43.41 on Thursday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. Amcor PLC has a 52-week low of $36.25 and a 52-week high of $50.94. The stock 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 stock’s 50 day moving average price is $40.47 and its 200-day moving average price is $42.14.

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

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were issued a $0.65 dividend. The ex-dividend date was Thursday, May 28th. This represents a $2.60 annualized dividend and a yield of 6.0%. Amcor’s dividend payout ratio is 181.82%.

Amcor 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.