ProShare Advisors LLC Reduces Holdings in Amcor plc (NYSE:AMCR)

ProShare Advisors LLC lessened its position in shares of Amcor plc (NYSE:AMCR - Free Report) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,176,977 shares of the company's stock after selling 582,510 shares during the quarter. ProShare Advisors LLC owned 1.19% of Amcor worth $161,635,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AMCR. Barclays PLC raised its stake in shares of 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 buying an additional 1,096,664 shares during the period. Principal Financial Group Inc. increased its holdings in Amcor by 5.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,969,613 shares of the company's stock worth $22,316,000 after acquiring an additional 105,457 shares in the last quarter. Czech National Bank raised its stake in Amcor by 6.4% during the 4th quarter. Czech National Bank now owns 313,379 shares of the company's stock worth $2,949,000 after acquiring an additional 18,948 shares during the period. Wedmont Private Capital purchased a new position in Amcor during the fourth quarter valued at approximately $131,000. Finally, Oak Thistle LLC bought a new position in shares of Amcor in the fourth quarter worth approximately $147,000. Institutional investors own 45.14% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AMCR. Jefferies Financial Group upgraded shares of Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. Truist Financial decreased their price target on Amcor from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, Raymond James assumed coverage on Amcor in a research report on Tuesday, April 22nd. They set a "market perform" rating for the company. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Amcor currently has an average rating of "Moderate Buy" and an average target price of $11.31.

Amcor Price Performance

Amcor stock traded down $0.09 during midday trading on Tuesday, reaching $9.36. 9,463,309 shares of the stock traded hands, compared to its average volume of 31,143,090. The stock has a market cap of $13.52 billion, a P/E ratio of 16.99, a PEG ratio of 1.96 and a beta of 0.78. The stock's fifty day moving average is $9.39 and its 200-day moving average is $9.76. The company has a quick ratio of 0.71, a current ratio of 1.26 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.

Amcor (NYSE:AMCR - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, meeting analysts' consensus estimates of $0.18. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same period in the prior year, the company earned $0.13 EPS. The company's quarterly revenue was down 2.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Amcor plc will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd will be given a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 5.45%. The ex-dividend date is Thursday, May 22nd. Amcor's dividend payout ratio is 91.07%.

Insider Activity

In related news, Director Achal Agarwal acquired 10,000 shares of the firm's stock in a transaction on Thursday, February 27th. The shares were acquired at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the transaction, the director now directly owns 88,967 shares in the company, valued at approximately $898,566.70. This trade represents a 12.66% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.60% of the company's stock.

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.