Quent Capital LLC Purchases 1,241 Shares of Amcor plc (NYSE:AMCR)

Quent Capital LLC lifted its position in shares of Amcor plc (NYSE:AMCR) by 51.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,638 shares of the company’s stock after buying an additional 1,241 shares during the period. Quent Capital LLC’s holdings in Amcor were worth $36,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AMCR. Riverview Trust Co bought a new stake in Amcor during the 1st quarter worth about $28,000. EverSource Wealth Advisors LLC increased its position in shares of Amcor by 132.8% in the first quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock valued at $39,000 after acquiring an additional 2,519 shares during the last quarter. MV Capital Management Inc. raised its holdings 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 in the last quarter. Eagle Bay Advisors LLC boosted 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 valued at $75,000 after purchasing an additional 2,779 shares during the last quarter. Finally, Global Retirement Partners LLC grew its stake in Amcor by 17.0% in the fourth quarter. Global Retirement Partners LLC now owns 8,397 shares of the company’s stock valued at $80,000 after purchasing an additional 1,222 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AMCR. JPMorgan Chase & Co. boosted their target price on shares of Amcor from $9.90 to $10.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Wells Fargo & Company began coverage on shares of Amcor in a research note on Friday, June 28th. They set an “equal weight” rating and a $9.80 price objective on the stock. Finally, Stifel Nicolaus began coverage on shares of Amcor in a report on Tuesday, July 9th. They issued a “hold” rating and a $10.80 target price on the stock. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Amcor currently has an average rating of “Hold” and a consensus price target of $10.15.

Amcor Stock Performance

AMCR stock traded up $0.08 during midday trading on Wednesday, reaching $10.57. 1,361,471 shares of the company were exchanged, compared to its average volume of 9,149,478. Amcor plc has a one year low of $8.45 and a one year high of $10.64. The firm has a market capitalization of $15.28 billion, a price-to-earnings ratio of 23.31, a price-to-earnings-growth ratio of 4.64 and a beta of 0.86. The business has a 50-day moving average price of $10.02 and a two-hundred day moving average price of $9.62. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.29 and a quick ratio of 0.75.

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.