Empowered Funds LLC reduced its position in shares of Amcor PLC (NYSE:AMCR - Free Report) by 78.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,578 shares of the company's stock after selling 79,176 shares during the period. Empowered Funds LLC's holdings in Amcor were worth $858,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AdvisorNet Financial Inc bought a new stake in Amcor in the first quarter worth about $25,000. DV Equities LLC bought a new position in shares of Amcor during the 4th quarter valued at approximately $27,000. Brown Lisle Cummings Inc. increased its stake in shares of Amcor by 137.9% during the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company's stock worth $29,000 after purchasing an additional 2,000 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Amcor by 46.1% during the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company's stock worth $33,000 after purchasing an additional 1,257 shares during the last quarter. Finally, N.E.W. Advisory Services LLC raised its holdings in shares of Amcor by 10.1% in the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company's stock worth $34,000 after purchasing an additional 373 shares during the period. 45.14% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
AMCR has been the topic of a number of recent research reports. Bank of America upped their price target on Amcor from $48.00 to $51.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Truist Financial reissued a "buy" rating and issued a $51.00 price objective (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Wells Fargo & Company set a $43.00 price objective on Amcor and gave the company an "equal weight" rating in a research note on Wednesday, July 15th. BMO Capital Markets assumed coverage on shares of Amcor in a report on Thursday, July 16th. They set a "market perform" rating and a $47.00 price objective on the stock. Finally, Citigroup cut their target price on shares of Amcor from $54.00 to $47.00 and set a "buy" rating for the company in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $48.08.
View Our Latest Research Report on Amcor
Amcor Trading Up 0.0%
Shares of AMCR stock opened at $47.87 on Monday. The company's fifty day simple moving average is $42.71 and its two-hundred day simple moving average is $42.48. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. Amcor PLC has a 1 year low of $36.25 and a 1 year high of $50.94. The stock has a market capitalization of $22.13 billion, a price-to-earnings ratio of 33.48, a PEG ratio of 1.50 and a beta of 0.62.
About Amcor
(
Free Report)
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.
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