Vanguard Group Inc. Purchases 9,119,308 Shares of Amcor PLC (NYSE:AMCR)

Vanguard Group Inc. increased its position in Amcor PLC (NYSE:AMCR) by 15.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,105,901 shares of the company’s stock after purchasing an additional 9,119,308 shares during the quarter. Vanguard Group Inc. owned approximately 4.71% of Amcor worth $660,627,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMCR. Renasant Bank lifted its holdings in shares of Amcor by 86.4% during the first quarter. Renasant Bank now owns 26,109 shares of the company’s stock valued at $253,000 after acquiring an additional 12,105 shares during the period. Leisure Capital Management bought a new position in shares of Amcor during the first quarter valued at $911,000. iA Global Asset Management Inc. bought a new position in shares of Amcor during the first quarter valued at $532,000. New Age Alpha Advisors LLC lifted its holdings in shares of Amcor by 185,094.7% during the first quarter. New Age Alpha Advisors LLC now owns 766,706 shares of the company’s stock valued at $7,437,000 after acquiring an additional 766,292 shares during the period. Finally, Eliot Finkel Investment Counsel LLC lifted its holdings in shares of Amcor by 36.3% during the first quarter. Eliot Finkel Investment Counsel LLC now owns 266,315 shares of the company’s stock valued at $2,583,000 after acquiring an additional 70,855 shares during the period. 45.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMCR has been the subject of a number of analyst reports. Raymond James Financial initiated coverage on Amcor in a report on Tuesday, April 22nd. They set a “market perform” rating for the company. Truist Financial set a $11.00 price target on Amcor and gave the company a “buy” rating in a report on Friday, July 11th. Wells Fargo & Company lifted their price target on Amcor from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Friday, July 18th. UBS Group raised Amcor from a “neutral” rating to a “buy” rating in a report on Thursday, June 26th. Finally, Jefferies Financial Group began coverage on Amcor in a report on Wednesday, July 2nd. They issued a “buy” rating and a $12.00 price target for the company. 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 has an average rating of “Moderate Buy” and an average price target of $11.58.

Amcor Price Performance

Shares of AMCR stock opened at $9.94 on Thursday. The stock has a 50-day moving average price of $9.44 and a 200 day moving average price of $9.53. 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 market cap of $14.37 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 1.26 and a beta of 0.74. Amcor PLC has a 12 month low of $8.37 and a 12 month high of $11.48.

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.