Cetera Investment Advisers Acquires 38,353 Shares of Amcor PLC (NYSE:AMCR)

Key Points

• Cetera Investment Advisers has increased its holdings in Amcor PLC by 14.5%, acquiring an additional 38,353 shares during the first quarter, bringing their total to 303,458 shares valued at approximately $2.94 million.
• The stock of Amcor PLC is currently rated as a "Moderate Buy", with various analysts setting a consensus price target of around $11.51.
• Amcor's current market cap stands at $13.54 billion, and it has recently seen a stock price opening at $9.37, with a 52-week range between $8.37 and $11.48.

Cetera Investment Advisers increased its holdings in shares of Amcor PLC (NYSE:AMCR - Free Report) by 14.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 303,458 shares of the company's stock after purchasing an additional 38,353 shares during the quarter. Cetera Investment Advisers' holdings in Amcor were worth $2,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Avantax Advisory Services Inc. lifted its holdings in shares of Amcor by 19.6% during the first quarter. Avantax Advisory Services Inc. now owns 22,940 shares of the company's stock valued at $223,000 after purchasing an additional 3,766 shares in the last quarter. Lifeworks Advisors LLC lifted its holdings in shares of Amcor by 22.0% during the first quarter. Lifeworks Advisors LLC now owns 598,482 shares of the company's stock valued at $5,805,000 after purchasing an additional 107,729 shares in the last quarter. Machina Capital S.A.S. lifted its holdings in shares of Amcor by 63.1% during the first quarter. Machina Capital S.A.S. now owns 20,359 shares of the company's stock valued at $197,000 after purchasing an additional 7,875 shares in the last quarter. Financial & Tax Architects LLC lifted its holdings in shares of Amcor by 12.4% during the first quarter. Financial & Tax Architects LLC now owns 63,610 shares of the company's stock valued at $617,000 after purchasing an additional 7,031 shares in the last quarter. Finally, AE Wealth Management LLC lifted its holdings in shares of Amcor by 8.3% during the first quarter. AE Wealth Management LLC now owns 229,291 shares of the company's stock valued at $2,224,000 after purchasing an additional 17,479 shares in the last quarter. 45.14% of the stock is owned by institutional investors.

Amcor Stock Down 0.3%

AMCR stock opened at $9.37 on Wednesday. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.16 and a current ratio of 1.70. The business's 50-day moving average is $9.36 and its two-hundred day moving average is $9.53. The company has a market cap of $13.54 billion, a price-to-earnings ratio of 16.73, a P/E/G ratio of 1.20 and a beta of 0.74. Amcor PLC has a fifty-two week low of $8.37 and a fifty-two week high of $11.48.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AMCR shares. Raymond James Financial started coverage on Amcor in a report on Tuesday, April 22nd. They set a "market perform" rating on the stock. Wells Fargo & Company upped their price target on Amcor from $10.00 to $11.00 and gave the company an "overweight" rating in a report on Friday, July 18th. UBS Group raised Amcor from a "neutral" rating to a "buy" rating in a report on Thursday, June 26th. Truist Financial set a $11.00 target price on Amcor and gave the company a "buy" rating in a report on Friday, July 11th. Finally, Jefferies Financial Group began coverage on Amcor in a report on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $11.51.

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.

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