Fintel reports that on November 27, 2024, Macquarie upgraded their outlook for Amcor (NYSE:AMCR) from Neutral to Outperform.
Analyst Price Forecast Suggests 6.16% Upside
As of November 21, 2024, the average one-year price target for Amcor is $11.03/share. The forecasts range from a low of $10.10 to a high of $13.12. The average price target represents an increase of 6.16% from its latest reported closing price of $10.39 / share.
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The projected annual revenue for Amcor is 15,654MM, an increase of 15.53%. The projected annual non-GAAP EPS is 0.87.
What is the Fund Sentiment?
There are 1,100 funds or institutions reporting positions in Amcor. This is an increase of 12 owner(s) or 1.10% in the last quarter. Average portfolio weight of all funds dedicated to AMCR is 0.14%, an increase of 0.59%. Total shares owned by institutions increased in the last three months by 2.12% to 882,651K shares. 
The put/call ratio of AMCR is 0.02, indicating a bullish outlook.
What are Other Shareholders Doing?
BlackRock holds 98,517K shares representing 6.84% ownership of the company.
M&G holds 49,940K shares representing 3.47% ownership of the company. In its prior filing, the firm reported owning 47,164K shares , representing an increase of 5.56%. The firm decreased its portfolio allocation in AMCR by 7.63% over the last quarter.
Charles Schwab Investment Management holds 43,190K shares representing 3.00% ownership of the company. In its prior filing, the firm reported owning 41,230K shares , representing an increase of 4.54%. The firm decreased its portfolio allocation in AMCR by 4.24% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 37,853K shares representing 2.63% ownership of the company. In its prior filing, the firm reported owning 37,092K shares , representing an increase of 2.01%. The firm increased its portfolio allocation in AMCR by 8.80% over the last quarter.
Geode Capital Management holds 36,317K shares representing 2.52% ownership of the company. In its prior filing, the firm reported owning 35,620K shares , representing an increase of 1.92%. The firm decreased its portfolio allocation in AMCR by 42.95% over the last quarter.
Amcor Background Information
(This description is provided by the company.)
Amcor is a global leader in developing and producing responsible packaging for food, beverage, pharmaceutical, medical, home- and personal-care, and other products. Amcor works with leading companies around the world to protect their products and the people who rely on them, differentiate brands, and improve value chains through a range of flexible and rigid packaging, specialty cartons, closures, and services. The company is focused on making packaging that is increasingly light-weighted, recyclable and reusable, and made using a rising amount of recycled content. Around 50,000 Amcor people generate US$13 billion in sales from operations that span about 250 locations in 40-plus countries.
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This story originally appeared on Fintel.
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