105,495 Amcor PLC $AMCR Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC trimmed its position in Amcor PLC (NYSE:AMCR – Free Report) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,916,614 shares of the company’s stock after selling 105,495 shares during the quarter. ProShare Advisors LLC owned 0.85% of Amcor worth $163,949,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new position in Amcor during the 2nd quarter valued at about $90,556,000. Rubric Capital Management LP bought a new stake in Amcor in the 1st quarter worth about $50,458,000. Ancora Advisors LLC purchased a new position in Amcor during the second quarter valued at approximately $39,470,000. Hsbc Holdings PLC lifted its position in Amcor by 1,620.5% during the first quarter. Hsbc Holdings PLC now owns 672,649 shares of the company’s stock valued at $26,592,000 after purchasing an additional 633,554 shares during the last quarter. Finally, Weiss Asset Management LP purchased a new stake in shares of Amcor in the first quarter valued at approximately $8,388,000. 45.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AMCR shares. Truist Financial set a $51.00 target price on Amcor in a research report on Tuesday, August 18th. Citigroup restated a “buy” rating and issued a $52.00 price target (up from $47.00) on shares of Amcor in a research report on Friday, August 14th. Bank of America boosted their target price on Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. lowered shares of Amcor from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $44.00 to $47.00 in a research note on Monday, August 17th. Finally, Wells Fargo & Company boosted their price objective on Amcor from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.36.

View Our Latest Report on AMCR

Amcor Trading Up 0.4%

Shares of AMCR stock opened at $47.34 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.76 and a debt-to-equity ratio of 1.17. The stock has a 50-day moving average of $44.04 and a 200-day moving average of $43.06. The stock has a market cap of $21.89 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 2.96 and a beta of 0.58. Amcor PLC has a 1-year low of $36.25 and a 1-year high of $50.94.

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

Amcor Announces Dividend

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

Amcor Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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