Glenmede Trust Co. NA lowered its stake in Amcor PLC (NYSE:AMCR – Free Report) by 92.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,626 shares of the company’s stock after selling 125,166 shares during the quarter. Glenmede Trust Co. NA’s holdings in Amcor were worth $383,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the stock. PFG Investments LLC acquired a new stake in shares of Amcor in the fourth quarter valued at $262,000. Vanguard Group Inc. lifted its stake in Amcor by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock worth $945,222,000 after acquiring an additional 1,845,627 shares in the last quarter. Code Waechter LLC boosted its holdings in Amcor by 105.1% during the 4th quarter. Code Waechter LLC now owns 54,113 shares of the company’s stock valued at $451,000 after acquiring an additional 27,725 shares during the period. Mountain Hill Investment Partners Corp. boosted its holdings in Amcor by 22.4% during the 4th quarter. Mountain Hill Investment Partners Corp. now owns 858,620 shares of the company’s stock valued at $7,161,000 after acquiring an additional 157,300 shares during the period. Finally, Wolverine Asset Management LLC acquired a new position in Amcor in the 4th quarter valued at about $459,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.
Amcor Price Performance
Shares of NYSE AMCR opened at $47.87 on Friday. The stock’s 50-day simple moving average is $42.71 and its 200-day simple moving average is $42.47. The firm has a market capitalization of $22.13 billion, a PE ratio of 33.48, a price-to-earnings-growth ratio of 1.50 and a beta of 0.62. Amcor PLC has a fifty-two week low of $36.25 and a fifty-two week high of $50.94. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the stock. Truist Financial reissued a “buy” rating and set a $51.00 price target (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Jefferies Financial Group set a $44.92 target price on shares of Amcor and gave the stock a “hold” rating in a report on Tuesday, July 21st. Citigroup decreased their price target on shares of Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, May 8th. BMO Capital Markets assumed coverage on Amcor in a research report on Thursday, July 16th. They set a “market perform” rating and a $47.00 price objective on the stock. Finally, Bank of America increased their price objective on Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. One equities 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.08.
View Our Latest Research Report on AMCR
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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