ProShare Advisors LLC Has $166.45 Million Position in Amcor PLC $AMCR

ProShare Advisors LLC grew its holdings in Amcor PLC (NYSE:AMCR) by 13.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,958,512 shares of the company’s stock after purchasing an additional 2,342,959 shares during the quarter. ProShare Advisors LLC owned about 4.33% of Amcor worth $166,454,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quent Capital LLC acquired a new stake in shares of Amcor in the third quarter valued at about $27,000. Brown Lisle Cummings Inc. grew its position in shares of Amcor by 137.9% in the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after purchasing an additional 2,000 shares during the last quarter. CYBER HORNET ETFs LLC acquired a new stake in shares of Amcor in the second quarter valued at about $36,000. N.E.W. Advisory Services LLC grew its position in shares of Amcor by 10.1% in the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after purchasing an additional 373 shares during the last quarter. Finally, Huntington National Bank grew its position in shares of Amcor by 81.8% in the third quarter. Huntington National Bank now owns 4,490 shares of the company’s stock valued at $37,000 after purchasing an additional 2,020 shares during the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Stock Up 2.2%

NYSE AMCR opened at $37.49 on Tuesday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. The firm has a 50-day simple moving average of $39.96 and a 200 day simple moving average of $42.39. Amcor PLC has a twelve month low of $36.67 and a twelve month high of $50.94. The stock has a market cap of $17.33 billion, a PE ratio of 26.22, a PEG ratio of 1.11 and a beta of 0.63.

Amcor (NYSE:AMCR) last released its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, meeting the consensus estimate of $0.96. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The business had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter last year, the company earned $0.90 earnings per share. The firm’s revenue was up 77.4% on a year-over-year basis. On average, research analysts forecast that Amcor PLC will post 3.97 EPS for the current year.

Amcor Announces Dividend

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

Analysts Set New Price Targets

AMCR has been the topic of several research analyst reports. Citigroup lowered their price target on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Truist Financial reaffirmed a “buy” rating and issued a $51.00 price target (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Wells Fargo & Company downgraded Amcor from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $48.00 to $43.00 in a research report on Friday, March 20th. Morgan Stanley downgraded Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price target on the stock. in a research report on Wednesday, January 28th. Finally, Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.