Jefferies Financial Group Inc. Has $423,000 Position in Amcor PLC (NYSE:AMCR)

Key Points

• Jefferies Financial Group Inc. has reduced its stake in Amcor PLC by 38.1%, selling 26,800 shares and holding 43,621 shares worth approximately $423,000 as of the end of the 1st quarter.
• Several institutional investors have increased their positions in Amcor, including Rakuten Securities Inc. which boosted its stake by 18,725.0%.
• Amcor's stock has a consensus target price of $11.51, supported by ratings from firms such as Wells Fargo and UBS Group who have placed 'buy' ratings on the stock.

Jefferies Financial Group Inc. cut its position in shares of Amcor PLC (NYSE:AMCR - Free Report) by 38.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,621 shares of the company's stock after selling 26,800 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Amcor were worth $423,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMCR. Norges Bank bought a new stake in shares of Amcor in the fourth quarter worth $6,223,000. Wells Fargo & Company MN grew its position in Amcor by 26.0% in the fourth quarter. Wells Fargo & Company MN now owns 3,657,298 shares of the company's stock valued at $34,415,000 after purchasing an additional 755,189 shares in the last quarter. Aviva PLC increased its stake in Amcor by 140.2% in the 4th quarter. Aviva PLC now owns 815,039 shares of the company's stock valued at $7,670,000 after buying an additional 475,709 shares during the last quarter. Invesco Ltd. lifted its position in Amcor by 16.0% during the 4th quarter. Invesco Ltd. now owns 30,425,121 shares of the company's stock worth $286,300,000 after buying an additional 4,199,209 shares in the last quarter. Finally, Bank of Nova Scotia lifted its position in Amcor by 117.0% during the 4th quarter. Bank of Nova Scotia now owns 466,052 shares of the company's stock worth $4,386,000 after buying an additional 251,235 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company's stock.

Analyst Upgrades and Downgrades

AMCR has been the subject of several analyst reports. Raymond James Financial assumed coverage on Amcor in a report on Tuesday, April 22nd. They issued a "market perform" rating for the company. Truist Financial set a $11.00 price objective on Amcor and gave the stock a "buy" rating in a research note on Friday, July 11th. Jefferies Financial Group initiated coverage on shares of Amcor in a research note on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 target price for the company. UBS Group upgraded shares of Amcor from a "neutral" rating to a "buy" rating in a report on Thursday, June 26th. Finally, Wells Fargo & Company increased their price target on shares of Amcor from $10.00 to $11.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Amcor has a consensus rating of "Moderate Buy" and an average target price of $11.51.

Amcor Stock Performance

Amcor stock traded up $0.03 during mid-day trading on Friday, hitting $9.67. 15,437,621 shares of the company's stock traded hands, compared to its average volume of 28,842,420. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.70 and a quick ratio of 1.16. The firm has a 50 day simple moving average of $9.38 and a two-hundred day simple moving average of $9.53. Amcor PLC has a fifty-two week low of $8.37 and a fifty-two week high of $11.48. The stock has a market cap of $13.98 billion, a price-to-earnings ratio of 17.27, a P/E/G ratio of 1.21 and a beta of 0.74.

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.