Kentucky Retirement Systems Insurance Trust Fund Acquires Shares of 41,818 Amcor PLC (NYSE:AMCR)

Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Amcor PLC (NYSE:AMCR - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 41,818 shares of the company's stock, valued at approximately $406,000.

Other large investors have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. lifted its position in Amcor by 18,725.0% during the first quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock worth $29,000 after buying an additional 2,996 shares during the period. CVA Family Office LLC lifted its position in Amcor by 234.1% during the first quarter. CVA Family Office LLC now owns 3,254 shares of the company's stock worth $32,000 after buying an additional 2,280 shares during the period. Quarry LP lifted its position in Amcor by 2,064.5% during the fourth quarter. Quarry LP now owns 3,723 shares of the company's stock worth $35,000 after buying an additional 3,551 shares during the period. Jones Financial Companies Lllp lifted its position in Amcor by 247.4% during the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock worth $35,000 after buying an additional 2,660 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in Amcor during the fourth quarter worth about $44,000. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amcor Stock Down 0.1%

Shares of AMCR stock traded down $0.01 during trading hours on Friday, reaching $9.21. The company had a trading volume of 20,231,409 shares, compared to its average volume of 20,629,953. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.16 and a current ratio of 1.70. Amcor PLC has a twelve month low of $8.37 and a twelve month high of $11.48. The company has a market capitalization of $13.30 billion, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 2.55 and a beta of 0.74. The stock's fifty day simple moving average is $9.21 and its 200 day simple moving average is $9.52.

Amcor (NYSE:AMCR - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.18. Amcor had a return on equity of 26.49% and a net margin of 5.99%. The business had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same quarter last year, the firm earned $0.13 earnings per share. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, sell-side analysts expect that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd were paid a $0.1275 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.54%. Amcor's dividend payout ratio (DPR) is currently 91.07%.

Wall Street Analysts Forecast Growth

AMCR has been the topic of several recent analyst reports. UBS Group upgraded Amcor from a "neutral" rating to a "buy" rating in a research report on Thursday. Raymond James Financial began coverage on Amcor in a report on Tuesday, April 22nd. They issued a "market perform" rating on the stock. Wells Fargo & Company began coverage on Amcor in a report on Thursday. They issued an "overweight" rating and a $10.00 price objective on the stock. Finally, Truist Financial cut their price objective on Amcor from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $11.20.

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.