Zions Bancorporation N.A. Has $2.95 Million Stake in Amcor plc (NYSE:AMCR)

Zions Bancorporation N.A. grew its position in shares of Amcor plc (NYSE:AMCR - Free Report) by 9.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 313,377 shares of the company's stock after buying an additional 27,843 shares during the quarter. Zions Bancorporation N.A.'s holdings in Amcor were worth $2,949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in AMCR. Larson Financial Group LLC lifted its position in shares of Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company's stock worth $27,000 after buying an additional 2,319 shares during the last quarter. True Wealth Design LLC boosted 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 purchasing an additional 3,225 shares during the period. Jones Financial Companies Lllp boosted its position in Amcor by 247.4% during the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock worth $35,000 after purchasing an additional 2,660 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Amcor during the fourth quarter valued at approximately $44,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Amcor in the fourth quarter valued at approximately $60,000. Institutional investors own 45.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AMCR. Citigroup raised shares of Amcor from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $11.00 to $12.00 in a report on Monday, January 6th. UBS Group raised Amcor from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, December 11th. Bank of America upgraded Amcor from an "underperform" rating to a "buy" rating and set a $12.50 price objective on the stock in a research note on Wednesday, December 11th. Truist Financial raised Amcor from a "hold" rating to a "buy" rating and raised their target price for the company from $10.00 to $12.00 in a report on Monday, January 6th. Finally, Jefferies Financial Group upgraded Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Three research 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.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $11.46.

Remove Ads

Amcor Stock Performance

Shares of NYSE AMCR traded down $0.08 during trading hours on Friday, reaching $9.64. The stock had a trading volume of 21,951,054 shares, compared to its average volume of 13,050,138. Amcor plc has a twelve month low of $8.80 and a twelve month 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. The business's fifty day moving average is $9.93 and its two-hundred day moving average is $10.24. The company has a market cap of $13.93 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The business had revenue of $3.24 billion for 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 revenue was down .3% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 EPS. As a group, research analysts expect that Amcor plc will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were issued a $0.1275 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.29%. Amcor's payout ratio is presently 92.73%.

Insider Buying and Selling

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

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.