State of New Jersey Common Pension Fund D Trims Stock Holdings in Amcor PLC $AMCR

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Amcor PLC by 11.2%, owning 451,604 shares valued at $4.38 million after selling 57,055 shares during the first quarter.
• Amcor reported quarterly earnings of $0.20 per share, missing expectations, with a revenue of $5.08 billion compared to the forecast of $5.18 billion.
• The company declared a quarterly dividend of $0.1275 per share, representing an annualized dividend of $0.51 and a yield of 6.0%.

State of New Jersey Common Pension Fund D trimmed its position in shares of Amcor PLC (NYSE:AMCR - Free Report) by 11.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 451,604 shares of the company's stock after selling 57,055 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Amcor were worth $4,381,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AMCR. Walleye Capital LLC purchased a new position in shares of Amcor during the 4th quarter valued at approximately $205,000. First Trust Advisors LP increased its holdings in shares of Amcor by 474.7% during the 4th quarter. First Trust Advisors LP now owns 5,402,490 shares of the company's stock valued at $50,837,000 after purchasing an additional 4,462,367 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Amcor by 11.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 18,700,717 shares of the company's stock valued at $175,967,000 after purchasing an additional 1,886,794 shares in the last quarter. Norinchukin Bank The increased its holdings in shares of Amcor by 17.6% during the 4th quarter. Norinchukin Bank The now owns 77,455 shares of the company's stock valued at $729,000 after purchasing an additional 11,592 shares in the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of Amcor by 1.8% during the 4th quarter. MetLife Investment Management LLC now owns 382,425 shares of the company's stock valued at $3,599,000 after purchasing an additional 6,729 shares in the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Price Performance

Shares of Amcor stock traded down $0.19 during trading hours on Monday, reaching $8.52. 20,894,465 shares of the company's stock were exchanged, compared to its average volume of 29,410,276. The company has a quick ratio of 0.71, a current ratio of 1.21 and a debt-to-equity ratio of 1.18. The business has a fifty day moving average of $9.35 and a two-hundred day moving average of $9.46. Amcor PLC has a 1 year low of $8.37 and a 1 year high of $11.48. The company has a market capitalization of $12.31 billion, a P/E ratio of 23.67, a price-to-earnings-growth ratio of 1.14 and a beta of 0.74.

Amcor (NYSE:AMCR - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.01). Amcor had a return on equity of 19.43% and a net margin of 3.40%.The business had revenue of $5.08 billion during the quarter, compared to analysts' expectations of $5.18 billion. During the same period last year, the business earned $0.21 earnings per share. The company's revenue for the quarter was up 43.8% compared to the same quarter last year. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. As a group, 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 announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Friday, September 5th will be paid a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend is Friday, September 5th. Amcor's dividend payout ratio (DPR) is 141.67%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AMCR shares. UBS Group raised shares of Amcor from a "neutral" rating to a "buy" rating in a report on Thursday, June 26th. Truist Financial set a $11.00 price target on shares of Amcor and gave the company a "buy" rating in a research note on Friday, July 11th. Jefferies Financial Group began coverage on shares of Amcor in a research note on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 price target on the stock. Robert W. Baird dropped their price target on shares of Amcor from $11.00 to $10.00 and set a "neutral" rating on the stock in a research note on Friday, August 15th. Finally, Wells Fargo & Company lifted their price target on shares of Amcor from $10.00 to $11.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Amcor currently has a consensus rating of "Moderate Buy" and an average target price of $11.42.

Insiders Place Their Bets

In other news, Director Stephen E. Sterrett purchased 10,000 shares of the stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average price of $8.55 per share, with a total value of $85,500.00. Following the transaction, the director owned 10,000 shares in the company, valued at $85,500. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is owned by company insiders.

About Amcor

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.