Amcor plc (NYSE:AMCR) Shares Acquired by Forsta AP Fonden

Forsta AP Fonden lifted its holdings in Amcor plc (NYSE:AMCR) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 683,600 shares of the company’s stock after buying an additional 20,600 shares during the period. Forsta AP Fonden’s holdings in Amcor were worth $6,433,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. M&G PLC increased its stake in shares of Amcor by 5.9% in the 3rd quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after acquiring an additional 2,775,794 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Amcor by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock valued at $489,348,000 after purchasing an additional 1,960,308 shares during the period. Geode Capital Management LLC increased its position in Amcor by 2.0% during the third quarter. Geode Capital Management LLC now owns 36,317,037 shares of the company’s stock worth $410,144,000 after purchasing an additional 697,320 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Amcor by 275.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock worth $74,931,000 after purchasing an additional 4,851,222 shares during the period. Finally, Barclays PLC raised its stake in Amcor by 31.8% during the third quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock worth $51,484,000 after purchasing an additional 1,096,664 shares during the period. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Stock Performance

Shares of Amcor stock opened at $9.70 on Friday. The stock has a market capitalization of $14.01 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 1.86 and a beta of 0.84. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. The business has a 50-day moving average of $9.81 and a 200 day moving average of $10.45. Amcor plc has a 12 month low of $8.78 and a 12 month high of $11.48.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the firm posted $0.16 earnings per share. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Amcor plc will post 0.74 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a research note on Wednesday, December 11th. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Truist Financial raised Amcor from a “hold” rating to a “buy” rating and raised their price objective for the stock from $10.00 to $12.00 in a research report on Monday, January 6th. Finally, Wells Fargo & Company boosted their price objective on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.46.

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.