Commonwealth Equity Services LLC Grows Stake in Amcor plc (NYSE:AMCR)

Commonwealth Equity Services LLC raised its stake in Amcor plc (NYSE:AMCRGet Rating) by 5.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 631,837 shares of the company’s stock after acquiring an additional 33,217 shares during the period. Commonwealth Equity Services LLC’s holdings in Amcor were worth $7,158,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Comerica Bank grew its stake in shares of Amcor by 8.0% in the first quarter. Comerica Bank now owns 666,478 shares of the company’s stock worth $8,004,000 after acquiring an additional 49,481 shares during the last quarter. Invst LLC bought a new position in shares of Amcor during the fourth quarter valued at $487,000. Verdence Capital Advisors LLC lifted its holdings in shares of Amcor by 1.1% during the first quarter. Verdence Capital Advisors LLC now owns 89,569 shares of the company’s stock valued at $1,015,000 after purchasing an additional 950 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Amcor by 2.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 88,102 shares of the company’s stock valued at $1,058,000 after purchasing an additional 2,168 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of Amcor by 64.2% during the first quarter. Robeco Institutional Asset Management B.V. now owns 848,832 shares of the company’s stock valued at $9,618,000 after purchasing an additional 331,746 shares in the last quarter. 43.56% of the stock is owned by hedge funds and other institutional investors.

Amcor Stock Down 2.2 %

AMCR stock opened at $12.75 on Wednesday. Amcor plc has a fifty-two week low of $10.66 and a fifty-two week high of $13.60. The business’s 50-day moving average is $12.64 and its two-hundred day moving average is $12.11. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.85 and a current ratio of 1.39. The company has a market cap of $19.16 billion, a price-to-earnings ratio of 20.56, a P/E/G ratio of 2.19 and a beta of 0.76.

Amcor (NYSE:AMCRGet Rating) last posted its earnings results on Tuesday, May 3rd. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. Amcor had a return on equity of 26.05% and a net margin of 6.75%. The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the prior year, the company earned $0.17 earnings per share. Amcor’s revenue was up 15.6% on a year-over-year basis. As a group, analysts forecast that Amcor plc will post 0.8 earnings per share for the current year.

Insider Buying and Selling at Amcor

In other news, insider Michael J. Zacka sold 33,500 shares of the firm’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $13.16, for a total value of $440,860.00. Following the transaction, the insider now owns 172,270 shares of the company’s stock, valued at $2,267,073.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Michael J. Zacka sold 33,500 shares of the firm’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $13.16, for a total value of $440,860.00. Following the transaction, the insider now owns 172,270 shares of the company’s stock, valued at $2,267,073.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Julie Marie Sorrells sold 17,283 shares of the firm’s stock in a transaction dated Friday, May 6th. The stock was sold at an average price of $12.55, for a total value of $216,901.65. Following the completion of the transaction, the vice president now directly owns 20,733 shares in the company, valued at approximately $260,199.15. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 951,350 shares of company stock valued at $12,057,859. 0.39% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. CLSA assumed coverage on Amcor in a report on Tuesday, July 19th. They set a “buy” rating on the stock. TheStreet raised Amcor from a “c” rating to a “b” rating in a report on Friday, May 13th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $12.70.

Amcor Company Profile

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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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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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