Zions Bancorporation N.A. Boosts Stake in Amcor plc (NYSE:AMCR)

Zions Bancorporation N.A. boosted its position in shares of Amcor plc (NYSE:AMCR) by 9.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. CWA Asset Management Group LLC raised its position in shares of Amcor by 3.9% during the 4th quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company’s stock valued at $304,000 after buying an additional 1,213 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its position in Amcor by 11.3% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 13,892 shares of the company’s stock valued at $131,000 after purchasing an additional 1,409 shares during the period. New York Life Investment Management LLC raised its position in Amcor by 0.8% during the fourth quarter. New York Life Investment Management LLC now owns 195,714 shares of the company’s stock valued at $1,842,000 after purchasing an additional 1,507 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Amcor by 0.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 442,152 shares of the company’s stock worth $4,161,000 after purchasing an additional 1,761 shares during the period. Finally, IHT Wealth Management LLC increased its position in shares of Amcor by 7.1% during the 3rd quarter. IHT Wealth Management LLC now owns 27,597 shares of the company’s stock valued at $313,000 after purchasing an additional 1,831 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

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

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

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th were paid a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 5.41%. The ex-dividend date was Wednesday, February 26th. Amcor’s dividend payout ratio (DPR) is 92.73%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AMCR shares. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a research report on Wednesday, December 11th. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and increased their price objective for the stock from $10.00 to $12.00 in a research report on Monday, January 6th. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and increased their price target for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Finally, UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.46.

Insiders Place Their Bets

In other news, Director Achal Agarwal bought 10,000 shares of Amcor stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the acquisition, the director now owns 88,967 shares of the company’s stock, valued at $898,566.70. This trade represents a 12.66 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.60% of the stock is owned by company insiders.

About Amcor

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.