Fifth Third Bancorp Sells 1,814 Shares of Amcor plc (NYSE:AMCR)

Fifth Third Bancorp decreased its position in Amcor plc (NYSE:AMCR) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,661 shares of the company’s stock after selling 1,814 shares during the quarter. Fifth Third Bancorp’s holdings in Amcor were worth $608,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Larson Financial Group LLC increased its position in shares of 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 bought a new stake in shares of Amcor during the 3rd quarter worth approximately $35,000. ORG Wealth Partners LLC acquired a new stake in shares of Amcor in the 3rd quarter valued at approximately $35,000. True Wealth Design LLC grew its stake in shares of Amcor by 3,794.1% in the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after buying an additional 3,225 shares in the last quarter. Finally, Signaturefd LLC increased its holdings 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. 45.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on AMCR shares. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a research report on Wednesday, December 11th. Wells Fargo & Company boosted their price target on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Finally, Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and upped their price objective for the company from $10.00 to $12.00 in a report on Monday, January 6th. Three 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 company. Based on data from MarketBeat, Amcor has a consensus rating of “Moderate Buy” and a consensus price target of $11.46.

Amcor Stock Up 0.1 %

AMCR stock opened at $9.76 on Friday. Amcor plc has a fifty-two week low of $8.78 and a fifty-two week high of $11.48. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. The stock has a market capitalization of $14.10 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 1.86 and a beta of 0.84. The business’s fifty day moving average price is $9.83 and its two-hundred day moving average price is $10.45.

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

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.