Texas Permanent School Fund Sells 1,072 Shares of Amcor plc (NYSE:AMCR)

Posted by Defense World Staff on May 10th, 2023

Texas Permanent School Fund cut its stake in Amcor plc (NYSE:AMCR – Get Rating) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 211,560 shares of the company’s stock after selling 1,072 shares during the quarter. Texas Permanent School Fund’s holdings in Amcor were worth $2,520,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AMCR. Raymond James & Associates raised its position in shares of Amcor by 13.9% in the first quarter. Raymond James & Associates now owns 222,899 shares of the company’s stock valued at $2,525,000 after purchasing an additional 27,213 shares during the period. Private Advisor Group LLC raised its position in shares of Amcor by 33.0% in the first quarter. Private Advisor Group LLC now owns 26,878 shares of the company’s stock valued at $304,000 after purchasing an additional 6,664 shares during the period. Natixis Advisors L.P. increased its position in Amcor by 23.3% during the first quarter. Natixis Advisors L.P. now owns 121,261 shares of the company’s stock worth $1,374,000 after acquiring an additional 22,888 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Amcor by 5.2% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 202,541 shares of the company’s stock worth $2,295,000 after acquiring an additional 10,101 shares during the period. Finally, Vontobel Holding Ltd. increased its position in Amcor by 58.5% during the first quarter. Vontobel Holding Ltd. now owns 45,244 shares of the company’s stock worth $522,000 after acquiring an additional 16,707 shares during the period. 46.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMCR has been the topic of a number of recent research reports. Morgan Stanley lowered shares of Amcor from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, February 8th. JPMorgan Chase & Co. raised shares of Amcor from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $11.60 to $10.80 in a research report on Wednesday, May 3rd. Finally, Jefferies Financial Group raised shares of Amcor from an “underperform” rating to a “hold” rating in a research report on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $10.80.

Amcor Trading Down 1.4 %

Shares of Amcor stock opened at $10.31 on Wednesday. The company has a market capitalization of $15.17 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 0.35 and a beta of 0.80. The company has a quick ratio of 0.72, a current ratio of 1.27 and a debt-to-equity ratio of 1.58. Amcor plc has a 12-month low of $9.79 and a 12-month high of $13.60. The firm’s 50-day moving average price is $10.94 and its two-hundred day moving average price is $11.51.

Amcor (NYSE:AMCR – Get Rating) last announced its quarterly earnings data on Tuesday, May 2nd. The company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.69 billion. Amcor had a net margin of 6.54% and a return on equity of 27.94%. During the same period in the prior year, the company posted $0.21 earnings per share. On average, analysts forecast that Amcor plc will post 0.73 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, May 23rd. This represents a $0.49 dividend on an annualized basis and a yield of 4.75%. Amcor’s payout ratio is 74.24%.

Amcor Company Profile

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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.