Maryland State Retirement & Pension System Has $879,000 Stake in Amcor PLC $AMCR

Maryland State Retirement & Pension System lowered its position in shares of Amcor PLC (NYSE:AMCR) by 80.0% during the first quarter, Holdings Channel.com reports. The firm owned 22,120 shares of the company’s stock after selling 88,482 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Amcor were worth $879,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. N.E.W. Advisory Services LLC increased its position in Amcor by 10.1% during the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock worth $34,000 after buying an additional 373 shares during the period. CYBER HORNET ETFs LLC boosted its position in shares of Amcor by 11.1% in the fourth quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company’s stock valued at $37,000 after acquiring an additional 447 shares during the period. FineMark National Bank & Trust grew its stake in shares of Amcor by 0.6% in the fourth quarter. FineMark National Bank & Trust now owns 80,503 shares of the company’s stock valued at $671,000 after acquiring an additional 503 shares in the last quarter. United Asset Strategies Inc. raised its stake in Amcor by 1.6% in the 4th quarter. United Asset Strategies Inc. now owns 38,453 shares of the company’s stock worth $321,000 after purchasing an additional 597 shares in the last quarter. Finally, AdvisorNet Financial Inc acquired a new stake in Amcor in the 1st quarter worth about $25,000. 45.14% of the stock is currently owned by institutional investors.

Amcor Price Performance

AMCR stock opened at $44.88 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. Amcor PLC has a 12 month low of $36.25 and a 12 month high of $50.94. The firm has a market cap of $20.75 billion, a P/E ratio of 31.38, a P/E/G ratio of 1.36 and a beta of 0.62. The company’s 50-day moving average price is $40.57 and its two-hundred day moving average price is $42.17.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.96. The company had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.71 billion. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The firm’s quarterly revenue was up 77.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 EPS. On average, analysts anticipate that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were paid a dividend of $0.65 per share. The ex-dividend date was Thursday, May 28th. This represents a $2.60 annualized dividend and a yield of 5.8%. Amcor’s dividend payout ratio is presently 181.82%.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMCR. JPMorgan Chase & Co. decreased their target price on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Bank of America increased their price target on Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday. Truist Financial restated a “buy” rating and set a $51.00 price objective (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Finally, BMO Capital Markets began coverage on Amcor in a report on Thursday. They issued a “market perform” rating and a $47.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.40.

Amcor Profile

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.