Amcor plc (NYSE:AMCR) Shares Sold by WASHINGTON TRUST Co

WASHINGTON TRUST Co decreased its stake in Amcor plc (NYSE:AMCR) by 15.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Riverview Trust Co acquired a new position in Amcor during the first quarter worth about $28,000. Quent Capital LLC raised its position in Amcor by 51.8% during the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after acquiring an additional 1,241 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Amcor by 132.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after acquiring an additional 2,519 shares during the last quarter. MV Capital Management Inc. raised its position in Amcor by 33.7% during the fourth quarter. MV Capital Management Inc. now owns 5,193 shares of the company’s stock worth $50,000 after acquiring an additional 1,310 shares during the last quarter. Finally, Eagle Bay Advisors LLC raised its position in Amcor by 55.5% during the fourth quarter. Eagle Bay Advisors LLC now owns 7,787 shares of the company’s stock worth $75,000 after acquiring an additional 2,779 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Amcor in a research report on Tuesday, July 9th. They set a “hold” rating and a $10.80 target price for the company. JPMorgan Chase & Co. lifted their price target on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Wells Fargo & Company assumed coverage on shares of Amcor in a report on Friday, June 28th. They set an “equal weight” rating and a $9.80 price target for the company. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Amcor has a consensus rating of “Hold” and a consensus price target of $10.43.

Amcor Trading Up 1.8 %

Shares of NYSE AMCR traded up $0.19 during midday trading on Tuesday, reaching $10.69. 6,757,751 shares of the stock were exchanged, compared to its average volume of 9,190,314. The company has a market capitalization of $15.45 billion, a P/E ratio of 23.34, a P/E/G ratio of 4.64 and a beta of 0.86. Amcor plc has a 52-week low of $8.45 and a 52-week high of $10.74. The company has a current ratio of 1.29, a quick ratio of 0.75 and a debt-to-equity ratio of 1.76. The stock has a 50 day moving average price of $10.06 and a 200-day moving average price of $9.65.

About Amcor

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.