Retirement Systems of Alabama Sells 14,168 Shares of Amcor plc (NYSE:AMCR)

Retirement Systems of Alabama lowered its stake in shares of Amcor plc (NYSE:AMCR) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 318,542 shares of the company’s stock after selling 14,168 shares during the period. Retirement Systems of Alabama’s holdings in Amcor were worth $3,071,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of AMCR. Signaturefd LLC lifted its holdings in shares of Amcor by 1,619.5% in the third quarter. Signaturefd LLC now owns 3,267 shares of the company’s stock worth $30,000 after buying an additional 3,077 shares in the last quarter. Cary Street Partners Investment Advisory LLC purchased a new stake in Amcor during the 3rd quarter valued at about $38,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Amcor in the fourth quarter worth approximately $40,000. Loomis Sayles & Co. L P grew its holdings in Amcor by 48.2% in the 3rd quarter. Loomis Sayles & Co. L P now owns 4,445 shares of the company’s stock worth $41,000 after acquiring an additional 1,445 shares during the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in Amcor during the 3rd quarter valued at about $46,000. 45.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. increased their target price on Amcor from $9.90 to $10.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st.

Amcor Trading Up 0.3 %

Amcor stock opened at $10.13 on Wednesday. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.29 and a quick ratio of 0.75. The stock has a market cap of $14.63 billion, a P/E ratio of 22.50, a PEG ratio of 5.48 and a beta of 0.79. The firm’s 50 day moving average price is $9.27 and its 200-day moving average price is $9.32. Amcor plc has a 1 year low of $8.45 and a 1 year high of $10.53.

Amcor (NYSE:AMCR) last announced its earnings results on Tuesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. Amcor had a net margin of 4.75% and a return on equity of 24.66%. The firm 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 company earned $0.18 EPS. The business’s revenue was down 7.0% compared to the same quarter last year. On average, equities analysts predict that Amcor plc will post 0.69 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 22nd will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date is Tuesday, May 21st. Amcor’s dividend payout ratio (DPR) is 111.11%.

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.