Pacer Advisors Inc. Has $1.05 Million Stock Position in Amcor PLC $AMCR

Pacer Advisors Inc. lowered its holdings in shares of Amcor PLC (NYSE:AMCR) by 86.6% in the first quarter, HoldingsChannel reports. The firm owned 26,357 shares of the company’s stock after selling 169,895 shares during the period. Pacer Advisors Inc.’s holdings in Amcor were worth $1,048,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Capital International Investors bought a new stake in Amcor in the fourth quarter valued at approximately $354,227,000. Norges Bank bought a new position in shares of Amcor during the 4th quarter worth approximately $308,724,000. AQR Capital Management LLC boosted its stake in shares of Amcor by 398.6% during the 2nd quarter. AQR Capital Management LLC now owns 16,015,722 shares of the company’s stock worth $147,184,000 after acquiring an additional 12,803,785 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Amcor during the 4th quarter worth approximately $103,713,000. Finally, Invesco Ltd. increased its holdings in shares of Amcor by 29.9% during the 3rd quarter. Invesco Ltd. now owns 47,111,558 shares of the company’s stock worth $385,373,000 after acquiring an additional 10,846,351 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Stock Performance

Shares of NYSE AMCR opened at $47.87 on Monday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. The stock’s fifty day moving average price is $42.71 and its two-hundred day moving average price is $42.48. Amcor PLC has a one year low of $36.25 and a one year high of $50.94. The firm has a market cap of $22.13 billion, a price-to-earnings ratio of 33.48, a P/E/G ratio of 1.50 and a beta of 0.62.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AMCR shares. JPMorgan Chase & Co. dropped their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Bank of America upped their price objective on shares of Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Wells Fargo & Company set a $43.00 target price on shares of Amcor and gave the stock an “equal weight” rating in a research note on Wednesday, July 15th. Finally, Truist Financial reaffirmed a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.08.

About Amcor

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.