Amcor plc (NYSE:AMCR) is M&G Plc’s 5th Largest Position

M&G Plc boosted its position in Amcor plc (NYSE:AMCR) by 2,741.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,164,358 shares of the company’s stock after buying an additional 45,504,608 shares during the quarter. Amcor makes up about 2.8% of M&G Plc’s holdings, making the stock its 5th largest position. M&G Plc owned about 3.26% of Amcor worth $471,644,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in Amcor during the 4th quarter valued at $3,512,000. Prime Capital Investment Advisors LLC grew its holdings in Amcor by 33.9% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 20,009 shares of the company’s stock valued at $193,000 after buying an additional 5,069 shares in the last quarter. Bleakley Financial Group LLC increased its position in shares of Amcor by 18.3% during the fourth quarter. Bleakley Financial Group LLC now owns 54,896 shares of the company’s stock valued at $529,000 after buying an additional 8,477 shares during the period. Cerity Partners LLC purchased a new stake in shares of Amcor in the fourth quarter worth about $365,000. Finally, Koshinski Asset Management Inc. lifted its holdings in shares of Amcor by 64.0% in the fourth quarter. Koshinski Asset Management Inc. now owns 27,597 shares of the company’s stock worth $266,000 after buying an additional 10,766 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Stifel Nicolaus began coverage on Amcor in a research note on Tuesday, July 9th. They set a “hold” rating and a $10.80 price objective for the company. Wells Fargo & Company began coverage on shares of Amcor in a research note on Friday, June 28th. They issued an “equal weight” rating and a $9.80 target price on the stock. Finally, JPMorgan Chase & Co. raised 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 analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $10.43.

Amcor Trading Up 1.9 %

Shares of Amcor stock traded up $0.20 during trading on Tuesday, reaching $10.70. 10,070,162 shares of the stock were exchanged, compared to its average volume of 9,211,685. The company has a quick ratio of 0.75, a current ratio of 1.29 and a debt-to-equity ratio of 1.76. The firm has a market cap of $15.47 billion, a price-to-earnings ratio of 23.34, a price-to-earnings-growth 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. The stock’s fifty day moving average is $10.06 and its 200 day moving average is $9.65.

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.