Maryland State Retirement & Pension System Sells 9,563 Shares of Amcor PLC (NYSE:AMCR)

Maryland State Retirement & Pension System lessened its stake in shares of Amcor PLC (NYSE:AMCR) by 12.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 67,224 shares of the company’s stock after selling 9,563 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Amcor were worth $652,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Rakuten Securities Inc. boosted its stake in shares of Amcor by 18,725.0% during the 1st quarter. Rakuten Securities Inc. now owns 3,012 shares of the company’s stock worth $29,000 after acquiring an additional 2,996 shares in the last quarter. HM Payson & Co. bought a new stake in shares of Amcor during the 1st quarter worth about $30,000. Brentview Investment Management LLC bought a new stake in shares of Amcor during the 1st quarter worth about $31,000. CVA Family Office LLC boosted its stake in shares of Amcor by 234.1% during the 1st quarter. CVA Family Office LLC now owns 3,254 shares of the company’s stock worth $32,000 after acquiring an additional 2,280 shares in the last quarter. Finally, Quarry LP boosted its stake in shares of Amcor by 2,064.5% during the 4th quarter. Quarry LP now owns 3,723 shares of the company’s stock worth $35,000 after acquiring an additional 3,551 shares in the last quarter. Institutional investors own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AMCR. Wells Fargo & Company upped their price target on Amcor from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, July 18th. Truist Financial set a $11.00 target price on Amcor and gave the company a “buy” rating in a research note on Friday, July 11th. Raymond James Financial started coverage on Amcor in a research note on Tuesday, April 22nd. They set a “market perform” rating for the company. Jefferies Financial Group started coverage on Amcor in a research note on Wednesday, July 2nd. They set a “buy” rating and a $12.00 target price for the company. Finally, UBS Group upgraded Amcor from a “neutral” rating to a “buy” rating in a research note on Thursday, June 26th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.58.

Amcor Price Performance

Shares of NYSE:AMCR opened at $9.94 on Thursday. Amcor PLC has a 1-year low of $8.37 and a 1-year high of $11.48. The firm has a market capitalization of $14.37 billion, a PE ratio of 17.75, a PEG ratio of 1.26 and a beta of 0.74. The business’s 50 day moving average is $9.44 and its 200-day moving average is $9.53. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 2.24.

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.