XY Capital Ltd Reduces Holdings in Amcor PLC (NYSE:AMCR)

Key Points

• XY Capital Ltd reduced its holdings in Amcor PLC by 58.3% to 188,886 shares, marking the stock as the firm's 18th largest holding worth approximately $1.83 million.
• Recent analyst ratings for Amcor show a consensus rating of "Moderate Buy" with a target price of $11.51, with Jefferies issuing a "buy" rating and a $12.00 price objective.
• Amcor's stock has seen a price increase of 2.4%, with current trading at $9.64 and a market cap of $13.93 billion.

XY Capital Ltd trimmed its holdings in shares of Amcor PLC (NYSE:AMCR - Free Report) by 58.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 188,886 shares of the company's stock after selling 264,103 shares during the quarter. Amcor makes up about 0.5% of XY Capital Ltd's investment portfolio, making the stock its 18th largest holding. XY Capital Ltd's holdings in Amcor were worth $1,832,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMCR. Rakuten Securities Inc. grew its position in shares of Amcor by 18,725.0% during the 1st quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock valued at $29,000 after acquiring an additional 2,996 shares during the period. HM Payson & Co. bought a new position in Amcor in the 1st quarter worth $30,000. Brentview Investment Management LLC purchased a new position in Amcor during the first quarter valued at $31,000. CVA Family Office LLC grew its holdings in Amcor by 234.1% during the first quarter. CVA Family Office LLC now owns 3,254 shares of the company's stock valued at $32,000 after purchasing an additional 2,280 shares during the period. Finally, Quarry LP grew its holdings in Amcor by 2,064.5% during the fourth quarter. Quarry LP now owns 3,723 shares of the company's stock valued at $35,000 after purchasing an additional 3,551 shares during the period. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Stock Up 2.4%

NYSE AMCR opened at $9.64 on Friday. The stock's 50 day moving average is $9.38 and its 200 day moving average is $9.53. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 2.24. Amcor PLC has a 12 month low of $8.37 and a 12 month high of $11.48. The stock has a market cap of $13.93 billion, a PE ratio of 17.21, a P/E/G ratio of 1.21 and a beta of 0.74.

Wall Street Analyst Weigh In

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

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