California State Teachers Retirement System Reduces Stake in Amcor plc (NYSE:AMCR)

California State Teachers Retirement System reduced its stake in Amcor plc (NYSE:AMCR – Get Rating) by 1.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,477,403 shares of the company’s stock after selling 41,628 shares during the quarter. California State Teachers Retirement System’s holdings in Amcor were worth $26,583,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC lifted its holdings in shares of Amcor by 46.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 3,536 shares of the company’s stock worth $38,000 after acquiring an additional 1,114 shares during the last quarter. Spire Wealth Management boosted its position in shares of Amcor by 29.5% during the third quarter. Spire Wealth Management now owns 4,007 shares of the company’s stock worth $43,000 after buying an additional 913 shares during the period. Newbridge Financial Services Group Inc. boosted its position in shares of Amcor by 55.7% during the third quarter. Newbridge Financial Services Group Inc. now owns 5,831 shares of the company’s stock worth $63,000 after buying an additional 2,085 shares during the period. Chilton Capital Management LLC acquired a new stake in shares of Amcor in the second quarter valued at $68,000. Finally, IFP Advisors Inc raised its holdings in shares of Amcor by 16.0% in the 3rd quarter. IFP Advisors Inc now owns 6,593 shares of the company’s stock valued at $94,000 after buying an additional 908 shares during the period. 46.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMCR has been the subject of several research reports. JPMorgan Chase & Co. downgraded Amcor from an “overweight” rating to a “neutral” rating and set a $11.70 target price for the company. in a research report on Tuesday, January 24th. Morgan Stanley cut shares of Amcor from an “equal weight” rating to an “underweight” rating in a report on Wednesday, February 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.00.

Amcor Price Performance

Shares of NYSE AMCR opened at $10.70 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.33 and a quick ratio of 0.76. The company has a market cap of $15.90 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 3.20 and a beta of 0.81. The stock’s 50-day moving average is $11.51 and its two-hundred day moving average is $11.61. Amcor plc has a 1-year low of $10.42 and a 1-year high of $13.60.

Amcor (NYSE:AMCR – Get Rating) last announced its quarterly earnings data on Tuesday, February 7th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.64 billion. Amcor had a return on equity of 28.65% and a net margin of 7.14%. Analysts forecast that Amcor plc will post 0.77 EPS for the current fiscal year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 21st. Stockholders of record on Wednesday, March 1st will be issued a $0.1225 dividend. The ex-dividend date of this dividend is Tuesday, February 28th. This represents a $0.49 dividend on an annualized basis and a dividend yield of 4.58%. Amcor’s payout ratio is 68.06%.

About Amcor

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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.