ProShare Advisors LLC Sells 582,510 Shares of Amcor plc (NYSE:AMCR)

ProShare Advisors LLC decreased its position in shares of Amcor plc (NYSE:AMCR) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,176,977 shares of the company’s stock after selling 582,510 shares during the period. ProShare Advisors LLC owned approximately 1.19% of Amcor worth $161,635,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Amcor by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company’s stock worth $555,064,000 after acquiring an additional 1,249,868 shares in the last quarter. Barclays PLC grew its position in Amcor by 31.8% in the third quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock worth $51,484,000 after acquiring an additional 1,096,664 shares in the last quarter. Van ECK Associates Corp purchased a new position in Amcor in the fourth quarter worth about $2,605,000. Empowered Funds LLC grew its position in Amcor by 25.9% in the fourth quarter. Empowered Funds LLC now owns 167,952 shares of the company’s stock worth $1,580,000 after acquiring an additional 34,573 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of Amcor by 11,326.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company’s stock valued at $69,000 after buying an additional 7,249 shares during the period. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Insider Activity

In related news, Director Achal Agarwal acquired 10,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were purchased at an average cost of $10.10 per share, with a total value of $101,000.00. Following the completion of the acquisition, the director now directly owns 88,967 shares of the company’s stock, valued at $898,566.70. This represents a 12.66% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Amcor Price Performance

NYSE AMCR opened at $9.20 on Thursday. The firm’s fifty day simple moving average is $9.43 and its two-hundred day simple moving average is $9.80. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. Amcor plc has a 12-month low of $8.37 and a 12-month high of $11.48. The firm has a market capitalization of $13.30 billion, a P/E ratio of 16.73, a P/E/G ratio of 1.96 and a beta of 0.78.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.51 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 earnings per share. Analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd will be issued a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date is Thursday, May 22nd. Amcor’s dividend payout ratio (DPR) is presently 91.07%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AMCR. Truist Financial dropped their target price on Amcor from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Raymond James began coverage on Amcor in a research report on Tuesday, April 22nd. They set a “market perform” rating for the company. Finally, Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Amcor currently has a consensus rating of “Moderate Buy” and an average price target of $11.31.

Amcor Company Profile

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.