ProShare Advisors LLC Sells 105,495 Shares of Amcor PLC $AMCR

ProShare Advisors LLC lessened its position in Amcor PLC (NYSE:AMCR) by 2.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,916,614 shares of the company’s stock after selling 105,495 shares during the period. ProShare Advisors LLC’s holdings in Amcor were worth $163,949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Foresight Capital Management Advisors Inc. acquired a new position in shares of Amcor in the third quarter valued at approximately $25,000. Bangor Savings Bank bought a new stake in shares of Amcor during the 2nd quarter worth $26,000. Western Wealth Management LLC purchased a new stake in shares of Amcor during the first quarter valued at approximately $27,000. Palladiem LLC purchased a new position in Amcor during the first quarter valued at $34,000. Finally, Latitude Advisors LLC purchased a new position in shares of Amcor during the 3rd quarter valued at about $40,000. Institutional investors own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AMCR shares. Weiss Ratings raised shares of Amcor from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday. Bank of America upped their price objective on Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Jefferies Financial Group set a $44.92 price objective on shares of Amcor and gave the stock a “hold” rating in a report on Tuesday, July 21st. UBS Group began coverage on Amcor in a research report on Tuesday, August 11th. They set a “buy” rating and a $56.00 price target on the stock. Finally, Citigroup reaffirmed a “buy” rating and issued a $52.00 price objective (up from $47.00) on shares of Amcor in a research note on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.36.

Amcor Price Performance

Shares of NYSE AMCR opened at $47.34 on Friday. The company has a market capitalization of $21.89 billion, a PE ratio of 20.06, a PEG ratio of 2.96 and a beta of 0.58. The stock’s 50 day moving average price is $44.04 and its 200-day moving average price is $43.06. Amcor PLC has a twelve month low of $36.25 and a twelve month high of $50.94. The company has a quick ratio of 0.76, a current ratio of 1.25 and a debt-to-equity ratio of 1.17.

Amcor (NYSE:AMCR) last posted its earnings results on Thursday, August 13th. The company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.04. The company had revenue of $6.40 billion during the quarter, compared to analyst estimates of $6.05 billion. Amcor had a net margin of 4.71% and a return on equity of 15.92%. Amcor’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.20 earnings per share. On average, equities analysts anticipate that Amcor PLC will post 1.83 EPS for the current year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Friday, September 4th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend was Friday, September 4th. Amcor’s dividend payout ratio is 110.17%.

Amcor Profile

Amcor plc (NYSE: AMCR) is a global packaging company that develops and produces packaging solutions for food, beverage, pharmaceutical, medical, personal care, household, and other consumer and industrial products. Its offerings include flexible packaging, rigid containers, closures, bottles, specialty cartons, and related packaging systems designed to protect products, support supply chains, and improve convenience and sustainability.

The company serves customers across North America, Latin America, Europe, Asia-Pacific, and other international markets.