Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Amcor PLC (NYSE:AMCR - Free Report) by 5.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,065,891 shares of the company's stock after acquiring an additional 171,527 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.21% of Amcor worth $29,739,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. CX Institutional acquired a new stake in shares of Amcor in the 1st quarter worth $111,000. SG Americas Securities LLC increased its stake in shares of Amcor by 174.3% in the 1st quarter. SG Americas Securities LLC now owns 149,983 shares of the company's stock worth $1,455,000 after acquiring an additional 95,314 shares during the last quarter. OneDigital Investment Advisors LLC acquired a new stake in shares of Amcor in the 1st quarter worth $121,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Amcor by 16.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,256,497 shares of the company's stock worth $12,188,000 after purchasing an additional 175,731 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in shares of Amcor by 5.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 82,025 shares of the company's stock worth $796,000 after purchasing an additional 4,591 shares during the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.
Amcor Trading Down 0.8%
NYSE AMCR traded down $0.07 during trading on Friday, hitting $8.69. The stock had a trading volume of 25,430,892 shares, compared to its average volume of 29,034,270. The company has a market capitalization of $12.55 billion, a PE ratio of 15.53, a PEG ratio of 1.27 and a beta of 0.74. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 2.24. The firm has a 50 day moving average price of $9.43 and a 200 day moving average price of $9.52. Amcor PLC has a twelve month low of $8.37 and a twelve month high of $11.48.
Amcor (NYSE:AMCR - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). The firm had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.18 billion. Amcor had a net margin of 5.99% and a return on equity of 26.49%. The business's revenue was up 43.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 earnings per share. As a group, equities research analysts forecast that Amcor PLC will post 0.74 earnings per share for the current year.
Analysts Set New Price Targets
A number of brokerages recently issued reports on AMCR. Jefferies Financial Group began coverage on Amcor in a research report on Wednesday, July 2nd. They set a "buy" rating and a $12.00 price objective for the company. Truist Financial set a $11.00 price objective on Amcor and gave the stock a "buy" rating in a research report on Friday, July 11th. Raymond James Financial began coverage on Amcor in a research report on Tuesday, April 22nd. They set a "market perform" rating for the company. Robert W. Baird cut their price objective on Amcor from $11.00 to $10.00 and set a "neutral" rating for the company in a research report on Friday. Finally, Wells Fargo & Company lifted their target price on Amcor from $10.00 to $11.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $11.42.
Check Out Our Latest Stock Report on Amcor
About Amcor
(
Free Report)
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.
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