Investors Research Corp Increases Stock Holdings in Amcor PLC $AMCR

Key Points

• Investors Research Corp increased its Amcor stake by 32,298.9% during the second quarter, ending with 28,187 shares valued at approximately $1.22 million. Institutional investors and hedge funds collectively own 45.14% of Amcor.
• Analysts maintain a generally positive outlook, with Amcor receiving a consensus rating of “Moderate Buy” and an average price target of $48.74, though individual ratings range from “Hold” to “Strong Buy.”
• Amcor exceeded quarterly expectations, reporting $1.23 in EPS versus the $1.19 consensus estimate and revenue of $6.40 billion versus the expected $6.05 billion.

Investors Research Corp lifted its stake in shares of Amcor PLC (NYSE:AMCR - Free Report) by 32,298.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,187 shares of the company's stock after purchasing an additional 28,100 shares during the quarter. Investors Research Corp's holdings in Amcor were worth $1,222,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. AdvisorNet Financial Inc acquired a new position in Amcor in the 1st quarter valued at $25,000. Bangor Savings Bank purchased a new position in Amcor during the 2nd quarter worth $26,000. Western Wealth Management LLC acquired a new stake in shares of Amcor in the 1st quarter worth $27,000. DV Equities LLC acquired a new stake in shares of Amcor in the 4th quarter worth $27,000. Finally, Larson Financial Group LLC boosted its holdings in shares of Amcor by 46.1% in the fourth quarter. Larson Financial Group LLC now owns 3,985 shares of the company's stock valued at $33,000 after acquiring an additional 1,257 shares in the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Citigroup dropped their price target on shares of Amcor from $54.00 to $47.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. Jefferies Financial Group set a $44.92 price objective on shares of Amcor and gave the company a "hold" rating in a research report on Tuesday, July 21st. Wells Fargo & Company set a $43.00 price objective on Amcor and gave the company an "equal weight" rating in a report on Wednesday, July 15th. UBS Group began coverage on Amcor in a research report on Tuesday. They set a "buy" rating and a $56.00 target price on the stock. Finally, BMO Capital Markets initiated coverage on Amcor in a research report on Thursday, July 16th. They set a "market perform" rating and a $47.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Amcor presently has an average rating of "Moderate Buy" and a consensus price target of $48.74.

Amcor Stock Performance

NYSE AMCR opened at $47.29 on Wednesday. Amcor PLC has a 1-year low of $36.25 and a 1-year high of $50.94. The company has a market capitalization of $21.86 billion, a P/E ratio of 33.07, a PEG ratio of 1.48 and a beta of 0.62. The business has a 50 day moving average price of $43.07 and a 200 day moving average price of $42.56. 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 (NYSE:AMCR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.04. The firm had revenue of $6.40 billion during the quarter, compared to analysts' expectations of $6.05 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%. Sell-side analysts expect that Amcor PLC will post 3.97 EPS for the current fiscal year.

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.

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