Zions Bancorporation N.A. Buys 27,843 Shares of Amcor plc (NYSE:AMCR)

Zions Bancorporation N.A. boosted its stake in shares of Amcor plc (NYSE:AMCR) by 9.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 313,377 shares of the company’s stock after buying an additional 27,843 shares during the period. Zions Bancorporation N.A.’s holdings in Amcor were worth $2,949,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AMCR. Larson Financial Group LLC grew its holdings in shares of Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after buying an additional 2,319 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Amcor by 247.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock valued at $35,000 after purchasing an additional 2,660 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of Amcor by 3,794.1% in the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after purchasing an additional 3,225 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Amcor in the fourth quarter worth $44,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Amcor during the fourth quarter valued at $60,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Stock Performance

NYSE:AMCR opened at $9.43 on Wednesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. The stock has a 50-day simple moving average of $9.93 and a two-hundred day simple moving average of $10.26. The firm has a market capitalization of $13.63 billion, a PE ratio of 17.15, a P/E/G ratio of 1.96 and a beta of 0.80. Amcor plc has a 52-week low of $8.80 and a 52-week high of $11.48.

Amcor (NYSE:AMCR) last released its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 EPS. Analysts forecast that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th were issued a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 5.41%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor’s dividend payout ratio is currently 92.73%.

Insiders Place Their Bets

In related news, Director Achal Agarwal acquired 10,000 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost of $10.10 per share, with a total value of $101,000.00. Following the acquisition, the director now directly owns 88,967 shares in the company, valued at $898,566.70. This represents a 12.66 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AMCR. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective on the stock in a research report on Wednesday, December 11th. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Finally, Truist Financial raised Amcor from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $11.46.

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.