State of Tennessee Department of Treasury Trims Position in Amcor plc (NYSE:AMCR)

State of Tennessee Department of Treasury trimmed its stake in shares of Amcor plc (NYSE:AMCR - Free Report) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 713,174 shares of the company's stock after selling 28,313 shares during the quarter. State of Tennessee Department of Treasury's holdings in Amcor were worth $6,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Jones Financial Companies Lllp increased its holdings in Amcor by 247.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock valued at $35,000 after purchasing an additional 2,660 shares during the period. Huntington National Bank increased its stake in shares of Amcor by 52.4% during the fourth quarter. Huntington National Bank now owns 4,426 shares of the company's stock valued at $42,000 after buying an additional 1,522 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Amcor during the fourth quarter valued at approximately $44,000. SBI Securities Co. Ltd. purchased a new stake in Amcor in the fourth quarter worth $60,000. Finally, Steward Partners Investment Advisory LLC boosted its holdings in Amcor by 11,326.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company's stock valued at $69,000 after acquiring an additional 7,249 shares in the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Truist Financial decreased their price target on shares of Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Citigroup upgraded Amcor from a "neutral" rating to a "buy" rating and raised their target price for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Jefferies Financial Group raised shares of Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. Finally, Raymond James initiated coverage on Amcor in a report on Tuesday, April 22nd. They issued a "market perform" rating on the stock. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Amcor currently has an average rating of "Moderate Buy" and an average price target of $11.31.

Amcor Price Performance

Shares of AMCR traded down $0.07 during trading hours on Wednesday, reaching $9.27. 15,452,521 shares of the stock traded hands, compared to its average volume of 16,223,219. Amcor plc has a 52-week low of $8.37 and a 52-week high of $11.48. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. The company has a market cap of $13.39 billion, a P/E ratio of 16.85, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. The company's 50-day moving average price is $9.64 and its two-hundred day moving average price is $9.94.

Amcor (NYSE:AMCR - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.16. The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company's revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 EPS. On average, analysts anticipate that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were paid a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 5.50%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor's dividend payout ratio is presently 92.73%.

Insider Activity at Amcor

In related news, Director Achal Agarwal bought 10,000 shares of the stock in a transaction on Thursday, February 27th. The stock was bought at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the acquisition, the director now directly owns 88,967 shares in the company, valued at approximately $898,566.70. This represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.60% of the stock is owned by company insiders.

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.