Forsta AP Fonden Raises Holdings in Amcor plc (NYSE:AMCR)

Forsta AP Fonden grew its stake in Amcor plc (NYSE:AMCR) by 3.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 683,600 shares of the company’s stock after buying an additional 20,600 shares during the quarter. Forsta AP Fonden’s holdings in Amcor were worth $6,433,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Robeco Institutional Asset Management B.V. grew its stake in shares of Amcor by 12.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 550,677 shares of the company’s stock worth $5,182,000 after purchasing an additional 60,049 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Amcor by 22.9% during the 4th quarter. Pacer Advisors Inc. now owns 208,271 shares of the company’s stock worth $1,960,000 after acquiring an additional 38,869 shares in the last quarter. KBC Group NV increased its holdings in shares of Amcor by 7.2% in the 4th quarter. KBC Group NV now owns 3,152,034 shares of the company’s stock valued at $29,660,000 after acquiring an additional 211,850 shares during the last quarter. Blue Trust Inc. raised its position in shares of Amcor by 18.4% during the 4th quarter. Blue Trust Inc. now owns 12,254 shares of the company’s stock worth $115,000 after acquiring an additional 1,901 shares in the last quarter. Finally, Gradient Investments LLC purchased a new stake in Amcor during the fourth quarter worth approximately $471,000. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Stock Performance

Shares of AMCR stock opened at $9.70 on Friday. The stock’s 50-day moving average price is $9.81 and its 200 day moving average price is $10.45. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $14.01 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 1.86 and a beta of 0.84. Amcor plc has a 52-week low of $8.78 and a 52-week high of $11.48.

Amcor (NYSE:AMCR) last released its earnings results 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 return on equity of 25.60% and a net margin of 5.68%. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the company posted $0.16 earnings per share. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. As a group, equities research analysts forecast that Amcor plc will post 0.74 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on AMCR. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and increased their price target for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Wells Fargo & Company lifted their price target on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Bank of America upgraded 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. Finally, Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.46.

Amcor 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.