Public Employees Retirement Association of Colorado Has $1.52 Million Holdings in Amcor plc (NYSE:AMCR)

Public Employees Retirement Association of Colorado trimmed its stake in shares of Amcor plc (NYSE:AMCR) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 154,864 shares of the company’s stock after selling 3,711 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Amcor were worth $1,515,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Norges Bank bought a new stake in Amcor during the 4th quarter worth about $47,669,000. Coldstream Capital Management Inc. lifted its holdings in Amcor by 13.9% in the fourth quarter. Coldstream Capital Management Inc. now owns 16,681 shares of the company’s stock valued at $161,000 after buying an additional 2,038 shares during the period. Assetmark Inc. boosted its stake in Amcor by 19.2% in the fourth quarter. Assetmark Inc. now owns 68,268 shares of the company’s stock valued at $658,000 after acquiring an additional 10,986 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in Amcor by 28.8% during the 4th quarter. Orion Portfolio Solutions LLC now owns 55,556 shares of the company’s stock worth $545,000 after acquiring an additional 12,422 shares during the period. Finally, Advisory Services Network LLC raised its position in shares of Amcor by 13.1% during the 4th quarter. Advisory Services Network LLC now owns 102,926 shares of the company’s stock valued at $992,000 after acquiring an additional 11,944 shares during the last quarter. 45.14% of the stock is owned by institutional investors.

Amcor Price Performance

NYSE AMCR opened at $11.19 on Wednesday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.17. Amcor plc has a 52-week low of $8.45 and a 52-week high of $11.45. The business has a 50 day simple moving average of $10.78 and a 200 day simple moving average of $10.05. The stock has a market cap of $16.17 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 2.68 and a beta of 0.85.

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

Amcor Announces Dividend

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 $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend is Friday, September 6th. Amcor’s payout ratio is 111.11%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AMCR. Robert W. Baird raised their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. boosted their target price on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Citigroup increased their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Wells Fargo & Company boosted their price objective on shares of Amcor from $9.80 to $10.50 and gave the company an “equal weight” rating in a report on Friday, August 16th. Finally, Stifel Nicolaus assumed coverage on shares of Amcor in a research report on Tuesday, July 9th. They set a “hold” rating and a $10.80 price target on the stock. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $10.73.

Amcor 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.