WASHINGTON TRUST Co Sells 11,580 Shares of Amcor plc (NYSE:AMCR)

WASHINGTON TRUST Co reduced its position in Amcor plc (NYSE:AMCR) by 15.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 64,693 shares of the company’s stock after selling 11,580 shares during the period. WASHINGTON TRUST Co’s holdings in Amcor were worth $633,000 at the end of the most recent reporting period.

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

Amcor Price Performance

Shares of NYSE AMCR traded up $0.19 during mid-day trading on Tuesday, hitting $10.69. 6,757,751 shares of the company’s stock traded hands, compared to its average volume of 9,190,314. The company’s 50-day moving average is $10.06 and its two-hundred day moving average is $9.65. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.29 and a quick ratio of 0.75. The company has a market capitalization of $15.45 billion, a P/E ratio of 23.34, a PEG ratio of 4.64 and a beta of 0.86. Amcor plc has a 1 year low of $8.45 and a 1 year high of $10.74.

Analyst Upgrades and Downgrades

AMCR has been the subject of a number of recent research reports. Stifel Nicolaus initiated coverage on shares of Amcor in a research report on Tuesday, July 9th. They set a “hold” rating and a $10.80 price objective for the company. Wells Fargo & Company initiated coverage on shares of Amcor in a research report on Friday, June 28th. They set an “equal weight” rating and a $9.80 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.43.

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.