State of New Jersey Common Pension Fund D Buys 240,808 Shares of Amcor PLC $AMCR

State of New Jersey Common Pension Fund D boosted its position in shares of Amcor PLC (NYSE:AMCR) by 53.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 692,412 shares of the company’s stock after buying an additional 240,808 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Amcor were worth $6,363,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMCR. Cambridge Investment Research Advisors Inc. raised its stake in shares of Amcor by 5.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 82,025 shares of the company’s stock valued at $796,000 after acquiring an additional 4,591 shares during the last quarter. Asset Management One Co. Ltd. raised its position in Amcor by 6.5% during the 1st quarter. Asset Management One Co. Ltd. now owns 604,345 shares of the company’s stock valued at $5,862,000 after purchasing an additional 36,772 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in Amcor by 41.9% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 781,544 shares of the company’s stock valued at $7,581,000 after purchasing an additional 230,867 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Amcor by 12.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,427,123 shares of the company’s stock valued at $13,757,000 after purchasing an additional 160,302 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Amcor by 15.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 94,112 shares of the company’s stock valued at $923,000 after purchasing an additional 12,679 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AMCR has been the subject of a number of recent analyst reports. Truist Financial set a $11.00 target price on Amcor and gave the company a “buy” rating in a report on Friday, July 11th. JPMorgan Chase & Co. assumed coverage on shares of Amcor in a report on Friday, September 19th. They issued an “overweight” rating and a $10.00 price objective for the company. Wells Fargo & Company decreased their price objective on shares of Amcor from $11.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday, October 15th. Robert W. Baird decreased their price objective on shares of Amcor from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Friday, August 15th. Finally, The Goldman Sachs Group began coverage on shares of Amcor in a research note on Wednesday, September 10th. They issued a “buy” rating for the company. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.84.

Insiders Place Their Bets

In other news, Director Stephen E. Sterrett acquired 10,000 shares of Amcor stock in a transaction on Tuesday, August 19th. The stock was acquired at an average cost of $8.55 per share, for a total transaction of $85,500.00. Following the purchase, the director owned 10,000 shares in the company, valued at $85,500. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Amcor Stock Down 1.0%

Shares of Amcor stock opened at $8.15 on Monday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.21 and a quick ratio of 0.71. The company has a 50-day moving average of $8.25 and a 200 day moving average of $8.96. The firm has a market cap of $18.78 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 1.16 and a beta of 0.73. Amcor PLC has a 1 year low of $7.81 and a 1 year high of $11.24.

Amcor (NYSE:AMCR) last announced 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 net margin of 3.40% and a return on equity of 19.43%. The business had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.18 billion. During the same period in the prior year, the business posted $0.21 EPS. Amcor’s revenue for the quarter was up 43.8% on a year-over-year basis. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. As a group, sell-side analysts anticipate that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Friday, September 5th were issued a dividend of $0.1275 per share. The ex-dividend date was Friday, September 5th. This represents a $0.51 annualized dividend and a dividend yield of 6.3%. Amcor’s dividend payout ratio (DPR) is presently 141.67%.

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.