Retirement Systems of Alabama lessened its stake in Amcor plc (NYSE:AMCR – Get Rating) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 477,023 shares of the company’s stock after selling 22,119 shares during the quarter. Retirement Systems of Alabama’s holdings in Amcor were worth $5,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp grew its holdings in shares of Amcor by 9.9% during the third quarter. Fifth Third Bancorp now owns 41,639 shares of the company’s stock valued at $447,000 after buying an additional 3,755 shares during the last quarter. Welch & Forbes LLC bought a new position in shares of Amcor during the fourth quarter valued at $137,000. Natixis Advisors L.P. increased its holdings in Amcor by 2.1% in the 4th quarter. Natixis Advisors L.P. now owns 147,313 shares of the company’s stock worth $1,754,000 after buying an additional 3,022 shares in the last quarter. Deseret Mutual Benefit Administrators raised its position in Amcor by 16.3% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 17,803 shares of the company’s stock worth $191,000 after buying an additional 2,491 shares during the last quarter. Finally, First Republic Investment Management Inc. lifted its stake in Amcor by 2.1% during the 3rd quarter. First Republic Investment Management Inc. now owns 4,118,503 shares of the company’s stock valued at $44,192,000 after acquiring an additional 84,652 shares during the period. Institutional investors own 46.79% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have commented on AMCR shares. Morgan Stanley downgraded shares of Amcor from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, February 8th. JPMorgan Chase & Co. upgraded Amcor from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $11.60 to $10.80 in a research report on Wednesday. Finally, Jefferies Financial Group raised Amcor from an “underperform” rating to a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Amcor currently has a consensus rating of “Hold” and an average target price of $10.80.
Amcor Trading Down 8.3 %
Amcor (NYSE:AMCR – Get Rating) last released its quarterly earnings results on Tuesday, May 2nd. The company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. Amcor had a return on equity of 28.65% and a net margin of 7.14%. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the company posted $0.21 earnings per share. As a group, equities analysts predict that Amcor plc will post 0.77 earnings per share for the current year.
Amcor Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Wednesday, May 24th will be paid a dividend of $0.1225 per share. This represents a $0.49 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date of this dividend is Tuesday, May 23rd. Amcor’s payout ratio is 68.06%.
Amcor Company Profile
Amcor Plc operates as a holding company, which engages in the consumer packaging business. It operates through the Flexibles and Rigid Packaging segments. The Flexibles segment develops and supplies flexible packaging globally. The Rigid Plastics segment manufactures rigid plastic containers and related products.
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