Zions Bancorporation National Association UT Reduces Stake in Amcor PLC $AMCR

Zions Bancorporation National Association UT reduced its stake in Amcor PLC (NYSE:AMCRFree Report) by 9.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 531,887 shares of the company’s stock after selling 52,741 shares during the quarter. Zions Bancorporation National Association UT’s holdings in Amcor were worth $4,436,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. N.E.W. Advisory Services LLC grew its holdings in Amcor by 10.1% in the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after buying an additional 373 shares in the last quarter. CYBER HORNET ETFs LLC grew its holdings in Amcor by 11.1% in the 4th quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company’s stock valued at $37,000 after buying an additional 447 shares in the last quarter. United Asset Strategies Inc. grew its holdings in Amcor by 1.6% in the 4th quarter. United Asset Strategies Inc. now owns 38,453 shares of the company’s stock valued at $321,000 after buying an additional 597 shares in the last quarter. IFP Advisors Inc grew its holdings in Amcor by 12.7% in the 4th quarter. IFP Advisors Inc now owns 6,518 shares of the company’s stock valued at $54,000 after buying an additional 733 shares in the last quarter. Finally, Shayne & Jacobs LLC grew its holdings in Amcor by 0.6% in the 4th quarter. Shayne & Jacobs LLC now owns 129,101 shares of the company’s stock valued at $1,077,000 after buying an additional 755 shares in the last quarter. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amcor Stock Performance

NYSE AMCR opened at $38.27 on Thursday. The stock has a market cap of $17.69 billion, a PE ratio of 26.76, a P/E/G ratio of 1.17 and a beta of 0.64. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30. Amcor PLC has a twelve month low of $36.25 and a twelve month high of $50.94. The stock has a fifty day simple moving average of $39.30 and a 200-day simple moving average of $42.04.

Amcor (NYSE:AMCRGet Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.96. The business had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The company’s revenue was up 77.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.90 EPS. Equities analysts anticipate that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th will be issued a dividend of $0.65 per share. The ex-dividend date is Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.8%. Amcor’s dividend payout ratio is currently 181.82%.

Wall Street Analyst Weigh In

Several analysts have issued reports on AMCR shares. Truist Financial restated a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Citigroup dropped their target price on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Amcor in a report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price target for the company. Finally, JPMorgan Chase & Co. lowered their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $49.33.

Check Out Our Latest Stock Analysis on AMCR

Amcor Company Profile

(Free Report)

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.

See Also

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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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