First Affirmative Financial Network Sells 5,375 Shares of Amcor plc (NYSE:AMCR)

First Affirmative Financial Network reduced its position in shares of Amcor plc (NYSE:AMCR) by 18.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,272 shares of the company’s stock after selling 5,375 shares during the period. First Affirmative Financial Network’s holdings in Amcor were worth $219,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in AMCR. Larson Financial Group LLC boosted its holdings in Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after acquiring an additional 2,319 shares during the last quarter. Rise Advisors LLC acquired a new position in shares of Amcor in the 3rd quarter worth approximately $35,000. ORG Wealth Partners LLC bought a new stake in shares of Amcor in the 3rd quarter valued at $35,000. True Wealth Design LLC increased its position in shares of Amcor by 3,794.1% during the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after buying an additional 3,225 shares during the period. Finally, Signaturefd LLC raised its stake in Amcor by 296.3% during the third quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock worth $49,000 after buying an additional 3,242 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and increased their price target for the stock from $11.00 to $12.00 in a report on Monday, January 6th. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Wells Fargo & Company boosted their price target on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Truist Financial raised shares of 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, Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price on the stock in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Amcor currently has an average rating of “Moderate Buy” and an average target price of $11.46.

Amcor Stock Performance

NYSE AMCR opened at $9.76 on Friday. The company has a market cap of $14.10 billion, a P/E ratio of 18.41, a PEG ratio of 1.86 and a beta of 0.84. The company has a fifty day simple moving average of $9.83 and a 200 day simple moving average of $10.45. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. Amcor plc has a 12-month low of $8.78 and a 12-month high of $11.48.

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

Amcor Company Profile

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.