93,904 Shares in Amcor PLC (NYSE:AMCR) Acquired by Leisure Capital Management

Key Points

• Leisure Capital Management acquired 93,904 shares of Amcor PLC, valued at approximately $911,000, in the first quarter of 2023.
• Amcor has received positive analyst ratings, with UBS upgrading it to a "buy" and Wells Fargo increasing its price target from $10.00 to $11.00, contributing to an average consensus rating of "Moderate Buy."
• The company's stock opened at $9.41 and has a market capitalization of $13.60 billion, with a one-year price range between $8.37 and $11.48.

Leisure Capital Management bought a new position in Amcor PLC (NYSE:AMCR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 93,904 shares of the company's stock, valued at approximately $911,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CX Institutional purchased a new position in Amcor in the 1st quarter worth approximately $111,000. SG Americas Securities LLC lifted its holdings in Amcor by 174.3% in the 1st quarter. SG Americas Securities LLC now owns 149,983 shares of the company's stock worth $1,455,000 after purchasing an additional 95,314 shares in the last quarter. OneDigital Investment Advisors LLC purchased a new position in Amcor in the 1st quarter worth approximately $121,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Amcor by 16.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,256,497 shares of the company's stock worth $12,188,000 after purchasing an additional 175,731 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in Amcor by 5.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 82,025 shares of the company's stock worth $796,000 after purchasing an additional 4,591 shares in the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Raymond James Financial initiated coverage on Amcor in a report on Tuesday, April 22nd. They issued a "market perform" rating on the stock. UBS Group upgraded Amcor from a "neutral" rating to a "buy" rating in a research report on Thursday, June 26th. Jefferies Financial Group assumed coverage on Amcor in a research report on Wednesday, July 2nd. They set a "buy" rating and a $12.00 price objective on the stock. Wells Fargo & Company upped their price objective on Amcor from $10.00 to $11.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Finally, Truist Financial set a $11.00 target price on Amcor and gave the company a "buy" rating in a research report on Friday, July 11th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $11.51.

Amcor Stock Performance

Shares of NYSE:AMCR opened at $9.41 on Tuesday. The firm has a market cap of $13.60 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 1.19 and a beta of 0.74. The firm's 50 day simple moving average is $9.36 and its 200-day simple moving average is $9.53. Amcor PLC has a one year low of $8.37 and a one year high of $11.48. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.16 and a current ratio of 1.70.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.