Kentucky Retirement Systems Insurance Trust Fund Sells 48,522 Shares of Amcor PLC $AMCR

Kentucky Retirement Systems Insurance Trust Fund lessened its position in Amcor PLC (NYSE:AMCR) by 80.0% during the first quarter, Holdings Channel reports. The institutional investor owned 12,130 shares of the company’s stock after selling 48,522 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Amcor were worth $482,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. AdvisorNet Financial Inc bought a new position in shares of Amcor during the 1st quarter worth approximately $25,000. Palladiem LLC acquired a new stake in shares of Amcor in the first quarter valued at approximately $34,000. Root Financial Partners LLC bought a new stake in shares of Amcor in the first quarter worth $41,000. American Capital Advisory LLC bought a new stake in shares of Amcor in the first quarter worth $44,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Amcor during the 1st quarter worth about $49,000. Institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

AMCR stock opened at $45.87 on Thursday. The company’s 50-day moving average price is $41.62 and its two-hundred day moving average price is $42.30. The firm has a market cap of $21.21 billion, a P/E ratio of 32.08, a P/E/G ratio of 1.46 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 PLC has a 12 month low of $36.25 and a 12 month high of $50.94.

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

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend was Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is currently 181.82%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Citigroup reduced their price target on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a report on Friday, May 8th. Wells Fargo & Company set a $43.00 target price on shares of Amcor and gave the company an “equal weight” rating in a research report on Wednesday, July 15th. JPMorgan Chase & Co. lowered their price target on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Bank of America raised 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, July 14th. Finally, BMO Capital Markets assumed coverage on Amcor in a research note on Thursday, July 16th. They issued a “market perform” rating and a $47.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $48.08.

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.