California State Teachers Retirement System Buys New Stake in Amcor PLC $AMCR

California State Teachers Retirement System bought a new stake in Amcor PLC (NYSE:AMCR - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 846,294 shares of the company's stock, valued at approximately $36,686,845. California State Teachers Retirement System owned approximately 0.18% of Amcor at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. grew its stake in Amcor by 55.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,307,985 shares of the company's stock worth $10,909,000 after acquiring an additional 467,065 shares during the period. Norges Bank acquired a new stake in Amcor during the fourth quarter valued at approximately $308,724,000. Goldman Sachs Group Inc. lifted its position in Amcor by 12.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 14,328,439 shares of the company's stock valued at $119,499,000 after purchasing an additional 1,603,673 shares during the period. Citizens National Bank Trust Department bought a new position in Amcor during the 1st quarter worth about $1,251,000. Finally, Weiss Asset Management LP acquired a new position in Amcor in the 1st quarter valued at about $8,388,000. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amcor Stock Performance

Shares of AMCR traded up $0.34 during mid-day trading on Tuesday, reaching $42.59. The company's stock had a trading volume of 1,021,851 shares, compared to its average volume of 4,743,525. The company has a current ratio of 1.25, a quick ratio of 0.76 and a debt-to-equity ratio of 1.17. Amcor PLC has a 1-year low of $36.25 and a 1-year high of $50.94. The stock has a market cap of $19.69 billion, a P/E ratio of 18.05, a PEG ratio of 1.65 and a beta of 0.60. The business has a 50-day simple moving average of $45.30 and a two-hundred day simple moving average of $42.28.

Amcor (NYSE:AMCR - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.04. The firm had revenue of $6.40 billion for the quarter, compared to the consensus estimate of $6.05 billion. Amcor had a net margin of 4.71% and a return on equity of 15.92%. The business's revenue was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.20 earnings per share. As a group, equities research analysts anticipate that Amcor PLC will post 2.58 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Friday, September 4th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.1%. Amcor's dividend payout ratio is presently 110.17%.

Analyst Ratings Changes

Several research firms have commented on AMCR. Jefferies Financial Group set a $44.92 price objective on shares of Amcor and gave the company a "hold" rating in a research note on Tuesday, July 21st. UBS Group started coverage on shares of Amcor in a report on Tuesday, August 11th. They issued a "buy" rating and a $56.00 price target on the stock. Bank of America increased their price objective on Amcor from $48.00 to $51.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Wells Fargo & Company lifted their price target on Amcor from $43.00 to $44.00 and gave the stock an "equal weight" rating in a report on Friday, August 14th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and set a $47.00 target price (up from $44.00) on shares of Amcor in a report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $49.49.

Amcor Profile

Amcor plc NYSE: AMCR is a global packaging company that develops and manufactures packaging products for the food, beverage, pharmaceutical, medical, personal care, household and other consumer and industrial markets. Its portfolio is designed to help protect products, extend shelf life, support transportation and improve convenience and sustainability.

The company produces flexible packaging, including films, pouches, bags, lidding and specialty laminates, as well as rigid packaging such as bottles, containers, closures and other molded products.

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