Invesco Ltd. Has $323.15 Million Stake in Amcor PLC (NYSE:AMCR)

Key Points

• Invesco Ltd. increased its holdings in Amcor PLC by 9.5%, acquiring over 2.8 million additional shares in the 1st quarter, bringing its total ownership to 33.3 million shares valued at approximately $323.1 million.
• Multiple institutional investors also boosted their stakes in Amcor, with Rakuten Securities increasing its position by an astounding 18,725%, reflecting strong confidence in the company's prospects.
• Wall Street analysts have a generally positive outlook on Amcor, with the stock receiving several upgrades and a consensus target price of $11.51, indicating expected growth potential.

Invesco Ltd. increased its position in shares of Amcor PLC (NYSE:AMCR - Free Report) by 9.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,314,287 shares of the company's stock after buying an additional 2,889,166 shares during the period. Invesco Ltd. owned 2.30% of Amcor worth $323,149,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. UMB Bank n.a. boosted its stake in Amcor by 20.0% in the first quarter. UMB Bank n.a. now owns 6,386 shares of the company's stock valued at $62,000 after acquiring an additional 1,066 shares in the last quarter. AlphaStar Capital Management LLC lifted its holdings in shares of Amcor by 2.4% in the first quarter. AlphaStar Capital Management LLC now owns 50,472 shares of the company's stock worth $490,000 after buying an additional 1,185 shares in the last quarter. Koshinski Asset Management Inc. grew its stake in shares of Amcor by 10.1% during the 1st quarter. Koshinski Asset Management Inc. now owns 13,659 shares of the company's stock valued at $132,000 after purchasing an additional 1,252 shares during the period. Virtue Capital Management LLC lifted its position in shares of Amcor by 2.8% during the 4th quarter. Virtue Capital Management LLC now owns 45,924 shares of the company's stock valued at $432,000 after buying an additional 1,259 shares in the last quarter. Finally, Utah Retirement Systems lifted its stake in Amcor by 1.1% during the fourth quarter. Utah Retirement Systems now owns 120,076 shares of the company's stock worth $1,130,000 after purchasing an additional 1,300 shares during the period. Hedge funds and other institutional investors own 45.14% of the company's stock.

Amcor Trading Down 0.4%

Amcor stock traded down $0.04 during trading hours on Friday, reaching $8.73. 43,301,418 shares of the company's stock traded hands, compared to its average volume of 29,164,957. The firm has a market capitalization of $12.61 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 1.27 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. The firm's 50 day moving average is $9.43 and its 200-day moving average is $9.52. 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 (NYSE:AMCR - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.21 by ($0.01). Amcor had a net margin of 5.99% and a return on equity of 26.49%. The company had revenue of $5.08 billion during the quarter, compared to analysts' expectations of $5.18 billion. During the same period in the previous year, the company posted $0.21 earnings per share. The company's quarterly revenue was up 43.8% compared to the same quarter last year. On average, analysts predict that Amcor PLC will post 0.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

AMCR has been the topic of several recent research reports. Truist Financial set a $11.00 price objective on shares of Amcor and gave the stock a "buy" rating in a research note on Friday, July 11th. Jefferies Financial Group initiated coverage on Amcor in a report on Wednesday, July 2nd. They set a "buy" rating and a $12.00 price target on the stock. Raymond James Financial assumed coverage on Amcor in a report on Tuesday, April 22nd. They set a "market perform" rating for the company. UBS Group upgraded shares of Amcor from a "neutral" rating to a "buy" rating in a research note on Thursday, June 26th. Finally, Robert W. Baird lowered their price objective on shares of Amcor from $11.00 to $10.00 and set a "neutral" rating on the stock in a research report on Friday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $11.42.

About Amcor

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.