Gradient Investments LLC Buys 16,497 Shares of Amcor PLC $AMCR

Gradient Investments LLC raised its stake in shares of Amcor PLC (NYSE:AMCR) by 14.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 130,897 shares of the company’s stock after purchasing an additional 16,497 shares during the quarter. Gradient Investments LLC’s holdings in Amcor were worth $5,674,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. PFG Investments LLC purchased a new position in shares of Amcor during the fourth quarter valued at about $262,000. Vanguard Group Inc. raised its stake in Amcor by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock worth $945,222,000 after buying an additional 1,845,627 shares in the last quarter. Code Waechter LLC lifted its holdings in Amcor by 105.1% in the fourth quarter. Code Waechter LLC now owns 54,113 shares of the company’s stock worth $451,000 after buying an additional 27,725 shares during the period. Mountain Hill Investment Partners Corp. lifted its holdings in Amcor by 22.4% in the fourth quarter. Mountain Hill Investment Partners Corp. now owns 858,620 shares of the company’s stock worth $7,161,000 after buying an additional 157,300 shares during the period. Finally, Wolverine Asset Management LLC bought a new stake in Amcor during the 4th quarter valued at approximately $459,000. 45.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AMCR has been the subject of several research reports. Truist Financial reissued a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Citigroup reduced their price target on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Jefferies Financial Group set a $44.92 price objective on Amcor and gave the company a “hold” rating in a research report on Tuesday, July 21st. JPMorgan Chase & Co. reduced their target price on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Finally, Bank of America increased their price target on shares of Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. One 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.08.

Amcor Stock Up 1.7%

Shares of NYSE:AMCR opened at $47.87 on Friday. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30. The stock has a fifty day simple moving average of $42.71 and a two-hundred day simple moving average of $42.47. Amcor PLC has a 12-month low of $36.25 and a 12-month high of $50.94. The stock has a market capitalization of $22.13 billion, a price-to-earnings ratio of 33.48, a PEG ratio of 1.50 and a beta of 0.62.

Amcor (NYSE:AMCR) last released its earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, hitting analysts’ consensus estimates of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The firm had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.71 billion. During the same period in the prior year, the firm posted $0.90 earnings per share. The company’s quarterly revenue was up 77.4% on a year-over-year basis. On average, research analysts anticipate that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

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.