ProShare Advisors LLC Acquires 2,342,959 Shares of Amcor PLC $AMCR

ProShare Advisors LLC boosted its holdings in shares of Amcor PLC (NYSE:AMCR) by 13.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,958,512 shares of the company’s stock after purchasing an additional 2,342,959 shares during the period. ProShare Advisors LLC’s holdings in Amcor were worth $166,454,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMCR. Quent Capital LLC bought a new position in Amcor during the third quarter worth about $27,000. Brown Lisle Cummings Inc. lifted its stake in Amcor by 137.9% during the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock worth $29,000 after purchasing an additional 2,000 shares during the period. N.E.W. Advisory Services LLC lifted its stake in Amcor by 10.1% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock worth $34,000 after purchasing an additional 373 shares during the period. CYBER HORNET ETFs LLC bought a new position in Amcor during the second quarter worth about $36,000. Finally, Huntington National Bank lifted its stake in Amcor by 81.8% during the third quarter. Huntington National Bank now owns 4,490 shares of the company’s stock worth $37,000 after purchasing an additional 2,020 shares during the period. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Performance

NYSE:AMCR opened at $37.49 on Tuesday. Amcor PLC has a 1 year low of $36.67 and a 1 year high of $50.94. The firm has a 50 day moving average of $39.96 and a 200-day moving average of $42.39. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $17.33 billion, a P/E ratio of 26.22, a price-to-earnings-growth ratio of 1.11 and a beta of 0.63.

Amcor (NYSE:AMCR) last posted its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.96. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The company had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter in the previous year, the company posted $0.90 earnings per share. Amcor’s quarterly revenue was up 77.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th will be paid a $0.65 dividend. The ex-dividend date is Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.9%. Amcor’s payout ratio is 181.82%.

Analyst Ratings Changes

A number of research analysts have commented on AMCR shares. JPMorgan Chase & Co. cut their price target on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Citigroup cut their price target on shares of Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Morgan Stanley cut shares of Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 target price for the company. in a research note on Wednesday, January 28th. Finally, Truist Financial reiterated a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $49.56.

About Amcor

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.