ST Germain D J Co. Inc. Reduces Stock Position in Amcor plc (NYSE:AMCR)

ST Germain D J Co. Inc. lowered its stake in shares of Amcor plc (NYSE:AMCR) by 58.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,500 shares of the company’s stock after selling 6,315 shares during the period. ST Germain D J Co. Inc.’s holdings in Amcor were worth $44,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AMCR. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Amcor by 12.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 246,555 shares of the company’s stock worth $2,377,000 after acquiring an additional 27,077 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of Amcor by 173.4% during the fourth quarter. Teacher Retirement System of Texas now owns 311,839 shares of the company’s stock worth $3,006,000 after buying an additional 197,760 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in Amcor by 40.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 743,325 shares of the company’s stock valued at $7,069,000 after acquiring an additional 214,458 shares in the last quarter. Empowered Funds LLC lifted its stake in Amcor by 244.2% in the first quarter. Empowered Funds LLC now owns 103,655 shares of the company’s stock worth $986,000 after acquiring an additional 73,541 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp grew its holdings in Amcor by 60.0% during the 1st quarter. CHURCHILL MANAGEMENT Corp now owns 601,225 shares of the company’s stock worth $5,718,000 after acquiring an additional 225,441 shares in the last quarter. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Stifel Nicolaus assumed coverage on shares of Amcor in a research note on Tuesday, July 9th. They set a “hold” rating and a $10.80 target price for the company. JPMorgan Chase & Co. increased their price objective on Amcor from $9.90 to $10.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Finally, Wells Fargo & Company initiated coverage on Amcor in a research note on Friday, June 28th. They set an “equal weight” rating and a $9.80 target price for the company. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Amcor presently has an average rating of “Hold” and a consensus price target of $10.15.

Amcor Stock Performance

Shares of AMCR stock traded up $0.20 during mid-day trading on Tuesday, hitting $10.49. 11,352,618 shares of the stock were exchanged, compared to its average volume of 9,201,354. The stock’s fifty day simple moving average is $10.00 and its two-hundred day simple moving average is $9.62. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.75 and a current ratio of 1.29. Amcor plc has a 12-month low of $8.45 and a 12-month high of $10.62. The stock has a market capitalization of $15.16 billion, a price-to-earnings ratio of 23.36, a P/E/G ratio of 4.64 and a beta of 0.86.

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.