Zurcher Kantonalbank Zurich Cantonalbank Sells 198,006 Shares of Amcor plc (NYSE:AMCR)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in shares of Amcor plc (NYSE:AMCR - Free Report) by 19.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 804,459 shares of the company's stock after selling 198,006 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.06% of Amcor worth $7,570,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Larson Financial Group LLC raised its position in Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company's stock worth $27,000 after acquiring an additional 2,319 shares during the last quarter. True Wealth Design LLC increased its position in Amcor by 3,794.1% during the third quarter. True Wealth Design LLC now owns 3,310 shares of the company's stock worth $38,000 after buying an additional 3,225 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Amcor by 247.4% in the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock worth $35,000 after acquiring an additional 2,660 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Amcor in the fourth quarter valued at $44,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Amcor in the fourth quarter valued at $60,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Stock Up 0.7 %

Amcor stock traded up $0.07 during trading hours on Monday, hitting $9.85. The company had a trading volume of 16,959,854 shares, compared to its average volume of 11,819,880. The firm's fifty day moving average is $9.90 and its 200-day moving average is $10.34. The firm has a market capitalization of $14.23 billion, a P/E ratio of 17.90, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80. Amcor plc has a fifty-two week low of $8.80 and a fifty-two week high of $11.48. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71.

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Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting analysts' consensus estimates of $0.16. The company had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The business's quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the business earned $0.09 EPS. On average, research analysts forecast that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be paid a $0.1275 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.18%. Amcor's payout ratio is presently 92.73%.

Insider Transactions at Amcor

In related news, Director Achal Agarwal purchased 10,000 shares of the firm's stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the transaction, the director now directly owns 88,967 shares of the company's stock, 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 SEC, which is accessible through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AMCR shares. Macquarie upgraded shares of Amcor from a "neutral" rating to an "outperform" rating in a report on Wednesday, November 27th. Jefferies Financial Group raised shares of Amcor from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Bank of America upgraded Amcor from an "underperform" rating to a "buy" rating and set a $12.50 price objective for the company in a report on Wednesday, December 11th. Truist Financial upgraded Amcor from a "hold" rating to a "buy" rating and lifted their target price for the company from $10.00 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 research note on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Amcor has an average rating of "Moderate Buy" and a consensus target price 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.