McAdam LLC Buys Shares of 19,705 Amcor plc (NYSE:AMCR)

McAdam LLC purchased a new position in shares of Amcor plc (NYSE:AMCR) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 19,705 shares of the company’s stock, valued at approximately $185,000.

Several other hedge funds have also modified their holdings of the business. Lake Street Advisors Group LLC boosted its holdings in Amcor by 8.4% in the 3rd quarter. Lake Street Advisors Group LLC now owns 12,210 shares of the company’s stock valued at $138,000 after purchasing an additional 946 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in Amcor by 9.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 11,646 shares of the company’s stock valued at $132,000 after purchasing an additional 1,023 shares during the last quarter. Forum Financial Management LP grew its position in Amcor by 7.7% during the 3rd quarter. Forum Financial Management LP now owns 14,761 shares of the company’s stock worth $167,000 after acquiring an additional 1,058 shares during the last quarter. Prime Capital Investment Advisors LLC increased its stake in shares of Amcor by 6.1% in the third quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company’s stock valued at $215,000 after buying an additional 1,085 shares in the last quarter. Finally, CWA Asset Management Group LLC raised its stake in shares of Amcor by 3.9% in the fourth quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company’s stock worth $304,000 after acquiring an additional 1,213 shares during the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Trading Down 1.8 %

AMCR opened at $9.55 on Tuesday. Amcor plc has a 1-year low of $8.78 and a 1-year high of $11.48. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. The company has a market cap of $13.80 billion, a P/E ratio of 18.01, a PEG ratio of 1.86 and a beta of 0.84. The company’s 50 day moving average is $9.80 and its 200-day moving average is $10.45.

Analyst Ratings Changes

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