Pacer Advisors Inc. Sells 169,895 Shares of Amcor PLC $AMCR

Key Points

• Pacer Advisors cut its Amcor stake by 86.6% in the first quarter, selling 169,895 shares and retaining 26,357 shares valued at approximately $1.05 million.
• Institutional ownership of Amcor stands at 45.14%, with several other investors initiating or increasing positions during the latest reporting periods.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $48.08 versus the stock’s reported price of $47.87.

Pacer Advisors Inc. lowered its holdings in shares of Amcor PLC (NYSE:AMCR - Free Report) by 86.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,357 shares of the company's stock after selling 169,895 shares during the quarter. Pacer Advisors Inc.'s holdings in Amcor were worth $1,048,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AMCR. AdvisorNet Financial Inc bought a new stake in Amcor during the 1st quarter worth approximately $25,000. Western Wealth Management LLC bought a new position in Amcor in the first quarter valued at approximately $27,000. DV Equities LLC acquired a new position in shares of Amcor in the fourth quarter valued at approximately $27,000. Brown Lisle Cummings Inc. boosted its holdings in shares of Amcor by 137.9% in the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company's stock valued at $29,000 after buying an additional 2,000 shares during the period. Finally, Larson Financial Group LLC increased its position in shares of Amcor by 46.1% during the fourth quarter. Larson Financial Group LLC now owns 3,985 shares of the company's stock worth $33,000 after acquiring an additional 1,257 shares in the last quarter. Institutional investors own 45.14% of the company's stock.

Amcor Stock Up 0.0%

Shares of AMCR stock opened at $47.87 on Monday. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30. Amcor PLC has a 1 year low of $36.25 and a 1 year high of $50.94. The firm's fifty day moving average price is $42.71 and its two-hundred day moving average price is $42.48. The firm has a market capitalization of $22.13 billion, a P/E ratio of 33.48, a PEG ratio of 1.50 and a beta of 0.62.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Truist Financial restated a "buy" rating and set a $51.00 price objective (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. JPMorgan Chase & Co. lowered their target price on Amcor from $50.00 to $44.00 and set an "overweight" rating for the company in a report on Thursday, May 7th. BMO Capital Markets assumed coverage on Amcor in a research note on Thursday, July 16th. They issued a "market perform" rating and a $47.00 price target on the stock. Wells Fargo & Company set a $43.00 price target on Amcor and gave the company an "equal weight" rating in a report on Wednesday, July 15th. Finally, Jefferies Financial Group set a $44.92 price objective on Amcor and gave the stock a "hold" rating in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Amcor currently has a consensus rating of "Moderate Buy" and an average target price of $48.08.

Amcor Company 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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