Teachers Retirement System of The State of Kentucky Sells 152,797 Shares of Amcor PLC $AMCR

Teachers Retirement System of The State of Kentucky trimmed its position in Amcor PLC (NYSE:AMCR) by 80.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,198 shares of the company’s stock after selling 152,797 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Amcor were worth $1,518,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. AdvisorNet Financial Inc purchased a new stake in shares of Amcor in the first quarter worth $25,000. Root Financial Partners LLC purchased a new position in Amcor during the first quarter worth about $41,000. American Capital Advisory LLC purchased a new position in Amcor during the first quarter worth about $44,000. CENTRAL TRUST Co bought a new position in Amcor in the 1st quarter worth about $49,000. Finally, Ascentis Independent Advisors bought a new position in Amcor in the 1st quarter worth about $85,000. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Amcor in a research note on Wednesday, April 1st. They issued a “buy” rating and a $50.00 target price on the stock. Wells Fargo & Company set a $43.00 target price on shares of Amcor and gave the company an “equal weight” rating in a research report on Wednesday. Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Truist Financial reissued a “buy” rating and issued a $51.00 price target (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.56.

Amcor Price Performance

AMCR opened at $43.41 on Thursday. The stock has a 50-day moving average price of $40.47 and a 200-day moving average price of $42.14. Amcor PLC has a 12-month low of $36.25 and a 12-month high of $50.94. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $20.07 billion, a P/E ratio of 30.36, a PEG ratio of 1.21 and a beta of 0.62.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.96. The company had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.Amcor’s revenue for the quarter was up 77.4% compared to the same quarter last year. During the same period last year, the firm posted $0.90 EPS. Equities analysts predict that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date was Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is presently 181.82%.

Amcor Profile

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.