LPL Financial LLC Purchases 227,206 Shares of Amcor PLC (NYSE:AMCR)

LPL Financial LLC increased its stake in Amcor PLC (NYSE:AMCR - Free Report) by 12.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,007,385 shares of the company's stock after buying an additional 227,206 shares during the period. LPL Financial LLC owned 0.14% of Amcor worth $19,472,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Atlantic Family Wealth LLC purchased a new stake in Amcor during the 1st quarter valued at $101,000. HB Wealth Management LLC boosted its stake in Amcor by 27.4% during the 1st quarter. HB Wealth Management LLC now owns 87,212 shares of the company's stock valued at $846,000 after purchasing an additional 18,746 shares during the last quarter. Stevens Capital Management LP purchased a new stake in Amcor during the 1st quarter valued at $331,000. Assetmark Inc. boosted its stake in shares of Amcor by 13.6% in the 1st quarter. Assetmark Inc. now owns 82,859 shares of the company's stock worth $804,000 after buying an additional 9,944 shares during the last quarter. Finally, Navellier & Associates Inc. purchased a new position in shares of Amcor in the 1st quarter worth $656,000. Hedge funds and other institutional investors own 45.14% of the company's stock.

Amcor Stock Performance

NYSE AMCR traded down $0.03 on Tuesday, reaching $9.37. 17,043,311 shares of the stock were exchanged, compared to its average volume of 19,920,328. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 2.24. The company's 50-day simple moving average is $9.36 and its two-hundred day simple moving average is $9.53. The firm has a market capitalization of $13.54 billion, a PE ratio of 16.73, a PEG ratio of 1.20 and a beta of 0.74. Amcor PLC has a one year low of $8.37 and a one year high of $11.48.

Wall Street Analyst Weigh In

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

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.