Texas Permanent School Fund Corp Lowers Holdings in Amcor plc (NYSE:AMCR)

Texas Permanent School Fund Corp reduced its stake in shares of Amcor plc (NYSE:AMCR) by 20.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 238,873 shares of the company’s stock after selling 59,892 shares during the period. Texas Permanent School Fund Corp’s holdings in Amcor were worth $2,336,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. NorthRock Partners LLC raised its position in Amcor by 2.0% during the first quarter. NorthRock Partners LLC now owns 54,237 shares of the company’s stock valued at $516,000 after acquiring an additional 1,050 shares in the last quarter. Czech National Bank increased its holdings in shares of Amcor by 0.5% during the 1st quarter. Czech National Bank now owns 254,309 shares of the company’s stock valued at $2,418,000 after purchasing an additional 1,166 shares in the last quarter. Quent Capital LLC lifted its stake in shares of Amcor by 51.8% in the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after purchasing an additional 1,241 shares during the period. Arkadios Wealth Advisors boosted its holdings in Amcor by 5.3% during the second quarter. Arkadios Wealth Advisors now owns 25,597 shares of the company’s stock worth $250,000 after buying an additional 1,298 shares in the last quarter. Finally, UMB Bank n.a. grew its position in Amcor by 38.7% during the second quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock valued at $46,000 after buying an additional 1,299 shares during the period. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Trading Up 1.2 %

Shares of Amcor stock opened at $11.12 on Tuesday. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.17 and a quick ratio of 0.69. The stock’s 50 day simple moving average is $10.63 and its 200-day simple moving average is $9.98. The stock has a market cap of $16.07 billion, a P/E ratio of 24.71, a P/E/G ratio of 2.68 and a beta of 0.85. Amcor plc has a 1-year low of $8.45 and a 1-year high of $11.45.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Thursday, August 15th. The company reported $0.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.21. Amcor had a return on equity of 25.45% and a net margin of 5.35%. The company had revenue of $3.54 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the previous year, the company posted $0.19 earnings per share. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. Analysts predict that Amcor plc will post 0.75 EPS for the current fiscal year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date of this dividend is Friday, September 6th. Amcor’s dividend payout ratio (DPR) is presently 111.11%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on Amcor from $9.80 to $10.50 and gave the company an “equal weight” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. upped their price objective on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Stifel Nicolaus initiated coverage on shares of Amcor in a research report on Tuesday, July 9th. They issued a “hold” rating and a $10.80 target price on the stock. Robert W. Baird upped their price target on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Finally, Citigroup raised their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $10.73.

Amcor Company Profile

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.