New York State Common Retirement Fund lowered its holdings in Amcor plc (NYSE:AMCR - Free Report) by 35.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 973,530 shares of the company's stock after selling 524,369 shares during the quarter. New York State Common Retirement Fund owned about 0.07% of Amcor worth $9,385,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Amcor by 12.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 246,555 shares of the company's stock valued at $2,377,000 after acquiring an additional 27,077 shares in the last quarter. Vanguard Group Inc. lifted its stake in Amcor by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 56,479,105 shares of the company's stock valued at $517,349,000 after acquiring an additional 325,747 shares in the last quarter. Handelsbanken Fonder AB raised its stake in shares of Amcor by 20.3% during the 4th quarter. Handelsbanken Fonder AB now owns 1,345,800 shares of the company's stock worth $12,974,000 after purchasing an additional 227,145 shares during the period. Barclays PLC raised its stake in shares of Amcor by 25.8% during the 3rd quarter. Barclays PLC now owns 4,055,670 shares of the company's stock worth $37,152,000 after purchasing an additional 830,959 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Amcor by 2.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 30,621,317 shares of the company's stock valued at $280,491,000 after acquiring an additional 594,034 shares during the period. Institutional investors and hedge funds own 45.14% of the company's stock.
Amcor Trading Up 0.7 %
Shares of Amcor stock traded up $0.07 during midday trading on Thursday, reaching $9.87. 11,725,105 shares of the company's stock traded hands, compared to its average volume of 8,785,470. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.71 and a current ratio of 1.25. The company has a market cap of $14.27 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 9.83 and a beta of 0.79. The stock has a 50 day moving average of $9.20 and a 200-day moving average of $9.28. Amcor plc has a 12 month low of $8.45 and a 12 month high of $10.53.
Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. Amcor had a return on equity of 24.63% and a net margin of 4.75%. The company had revenue of $3.41 billion for the quarter, compared to analysts' expectations of $3.49 billion. During the same period in the prior year, the firm earned $0.18 earnings per share. The firm's revenue for the quarter was down 7.0% on a year-over-year basis. As a group, equities analysts expect that Amcor plc will post 0.68 EPS for the current fiscal year.
Amcor Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Wednesday, May 22nd will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $0.50 annualized dividend and a dividend yield of 5.07%. Amcor's dividend payout ratio (DPR) is presently 111.11%.
Analyst Ratings Changes
Separately, JPMorgan Chase & Co. lifted their target price on Amcor from $9.90 to $10.00 and gave the company an "overweight" rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, Amcor presently has an average rating of "Hold" and a consensus price target of $10.00.
Check Out Our Latest Research Report on AMCR
Amcor Company Profile
(
Free Report)
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.
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