New Mexico Educational Retirement Board Sells 1,700 Shares of Amcor plc (NYSE:AMCR)

New Mexico Educational Retirement Board decreased its position in shares of Amcor plc (NYSE:AMCR) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,950 shares of the company’s stock after selling 1,700 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Amcor were worth $649,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. boosted its position in Amcor by 9.1% during the fourth quarter. Asset Management One Co. Ltd. now owns 567,573 shares of the company’s stock valued at $5,358,000 after purchasing an additional 47,348 shares in the last quarter. Van ECK Associates Corp acquired a new stake in shares of Amcor in the 4th quarter worth $2,605,000. Allspring Global Investments Holdings LLC increased its position in Amcor by 4.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 81,433 shares of the company’s stock valued at $761,000 after buying an additional 3,751 shares in the last quarter. XY Capital Ltd acquired a new position in Amcor during the 4th quarter valued at about $4,263,000. Finally, AlphaStar Capital Management LLC raised its stake in Amcor by 16.6% in the fourth quarter. AlphaStar Capital Management LLC now owns 49,287 shares of the company’s stock valued at $464,000 after buying an additional 7,009 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AMCR has been the topic of a number of research analyst reports. Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and boosted their price target for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Finally, Citigroup raised Amcor from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.46.

Amcor Price Performance

Shares of AMCR opened at $10.16 on Wednesday. The business’s 50-day moving average is $9.70 and its two-hundred day moving average is $10.43. The company has a market capitalization of $14.68 billion, a P/E ratio of 18.46, a P/E/G ratio of 1.92 and a beta of 0.84. Amcor plc has a fifty-two week low of $8.80 and a fifty-two week high of $11.48. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.26.

Amcor (NYSE:AMCR) last posted its earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period last year, the company earned $0.09 earnings per share. Amcor’s revenue for the quarter was down .3% compared to the same quarter last year. Research analysts predict that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be issued a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor’s dividend payout ratio (DPR) is presently 92.73%.

About Amcor

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.