California State Teachers Retirement System Sells 129,464 Shares of Amcor plc (NYSE:AMCR)

California State Teachers Retirement System decreased its holdings in shares of Amcor plc (NYSE:AMCR - Free Report) by 6.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,768,265 shares of the company's stock after selling 129,464 shares during the period. California State Teachers Retirement System owned approximately 0.12% of Amcor worth $16,639,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AMCR. Wealth Enhancement Advisory Services LLC increased its position in shares of Amcor by 145.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,080,766 shares of the company's stock valued at $10,170,000 after buying an additional 640,375 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of Amcor in the 4th quarter valued at $294,000. Menard Financial Group LLC bought a new stake in shares of Amcor in the 4th quarter valued at $46,000. Jefferies Financial Group Inc. bought a new stake in shares of Amcor in the 4th quarter valued at $663,000. Finally, Virtue Capital Management LLC increased its position in shares of Amcor by 2.8% in the 4th quarter. Virtue Capital Management LLC now owns 45,924 shares of the company's stock valued at $432,000 after buying an additional 1,259 shares in the last quarter. Institutional investors own 45.14% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on AMCR. Raymond James began coverage on shares of Amcor in a research report on Tuesday, April 22nd. They issued a "market perform" rating for the company. Truist Financial lowered their target price on Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $11.31.

Amcor Stock Up 0.1%

AMCR stock traded up $0.01 during trading hours on Wednesday, reaching $9.11. 10,226,338 shares of the stock were exchanged, compared to its average volume of 19,121,129. The firm's 50-day moving average is $9.26 and its 200-day moving average is $9.68. The company has a market cap of $13.17 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 1.96 and a beta of 0.78. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. Amcor plc has a 12 month low of $8.37 and a 12 month high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $3.33 billion during the quarter, compared to analysts' expectations of $3.51 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. Amcor's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.13 EPS. On average, equities research analysts expect that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd will be issued a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 5.60%. The ex-dividend date of this dividend is Thursday, May 22nd. Amcor's payout ratio is 91.07%.

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.