ProShare Advisors LLC Boosts Stock Position in Amcor plc (NYSE:AMCR)

ProShare Advisors LLC boosted its holdings in Amcor plc (NYSE:AMCR) by 7.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,916,478 shares of the company’s stock after buying an additional 1,443,364 shares during the quarter. ProShare Advisors LLC owned approximately 1.38% of Amcor worth $194,783,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Legacy Financial Advisors Inc. purchased a new position in Amcor in the second quarter valued at $218,000. Ensign Peak Advisors Inc grew its holdings in shares of Amcor by 4.6% during the second quarter. Ensign Peak Advisors Inc now owns 513,564 shares of the company’s stock worth $5,023,000 after purchasing an additional 22,795 shares during the last quarter. AE Wealth Management LLC boosted its stake in shares of Amcor by 5.1% during the second quarter. AE Wealth Management LLC now owns 181,646 shares of the company’s stock worth $1,777,000 after buying an additional 8,763 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Amcor by 8.4% during the second quarter. Canada Pension Plan Investment Board now owns 2,294,461 shares of the company’s stock worth $22,440,000 after buying an additional 176,901 shares during the period. Finally, Benjamin F. Edwards & Company Inc. lifted its position in Amcor by 5.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 53,066 shares of the company’s stock valued at $519,000 after purchasing an additional 2,545 shares during the period. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AMCR shares. JPMorgan Chase & Co. raised their price objective on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Citigroup raised their price objective on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Wells Fargo & Company raised their price objective on shares of Amcor from $9.80 to $10.50 and gave the company an “equal weight” rating in a research report on Friday, August 16th. Robert W. Baird raised their price objective on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Finally, Stifel Nicolaus began coverage on shares of Amcor in a research report on Tuesday, July 9th. They set a “hold” rating and a $10.80 price target for the company. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Amcor currently has an average rating of “Hold” and a consensus target price of $10.73.

Amcor Trading Down 1.9 %

Shares of AMCR opened at $10.90 on Friday. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.17 and a quick ratio of 0.69. The firm has a 50 day simple moving average of $10.73 and a 200-day simple moving average of $10.02. Amcor plc has a 1-year low of $8.45 and a 1-year high of $11.45. The stock has a market cap of $15.75 billion, a price-to-earnings ratio of 24.22, a price-to-earnings-growth ratio of 2.68 and a beta of 0.85.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Thursday, August 15th. The company reported $0.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.21. Amcor had a net margin of 5.35% and a return on equity of 25.45%. The business had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period last year, the company posted $0.19 EPS. The company’s revenue was down 3.8% on a year-over-year basis. Equities analysts forecast that Amcor plc will post 0.75 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.125 per share. The ex-dividend date is Friday, September 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.59%. Amcor’s dividend payout ratio (DPR) is 111.11%.

Amcor 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.