Amcor PLC $AMCR Shares Sold by Zions Bancorporation National Association UT

Key Points

• Zions Bancorporation reduced its Amcor stake by 9.0% in the fourth quarter, selling 52,741 shares and ending with 531,887 shares worth about $4.44 million.
• Amcor reported solid quarterly results, matching EPS estimates at $0.96 and topping revenue expectations with $5.91 billion, while revenue rose 77.4% year over year.
• The company declared a quarterly dividend of $0.65 per share, equal to a 6.8% annualized yield, though its payout ratio is high at 181.82%.

Zions Bancorporation National Association UT cut its stake in Amcor PLC (NYSE:AMCR - Free Report) by 9.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 531,887 shares of the company's stock after selling 52,741 shares during the quarter. Zions Bancorporation National Association UT owned approximately 0.12% of Amcor worth $4,436,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. N.E.W. Advisory Services LLC lifted its holdings in Amcor by 10.1% in the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company's stock valued at $34,000 after acquiring an additional 373 shares during the period. CYBER HORNET ETFs LLC lifted its holdings in Amcor by 11.1% in the fourth quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company's stock valued at $37,000 after acquiring an additional 447 shares during the period. United Asset Strategies Inc. lifted its holdings in Amcor by 1.6% in the fourth quarter. United Asset Strategies Inc. now owns 38,453 shares of the company's stock valued at $321,000 after acquiring an additional 597 shares during the period. IFP Advisors Inc raised its stake in shares of Amcor by 12.7% during the 4th quarter. IFP Advisors Inc now owns 6,518 shares of the company's stock worth $54,000 after buying an additional 733 shares during the period. Finally, Shayne & Jacobs LLC raised its stake in shares of Amcor by 0.6% during the 4th quarter. Shayne & Jacobs LLC now owns 129,101 shares of the company's stock worth $1,077,000 after buying an additional 755 shares during the period. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Stock Down 1.5%

Shares of AMCR opened at $38.27 on Thursday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. Amcor PLC has a one year low of $36.25 and a one year high of $50.94. The stock has a market capitalization of $17.69 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 1.17 and a beta of 0.64. The stock has a 50 day moving average price of $39.30 and a 200 day moving average price of $42.04.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, hitting the consensus estimate of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The firm had revenue of $5.91 billion during the quarter, compared to analysts' expectations of $5.71 billion. During the same period in the previous year, the business earned $0.90 earnings per share. The firm's revenue for the quarter was up 77.4% on a year-over-year basis. Equities research analysts forecast that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Thursday, May 28th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 6.8%. The ex-dividend date is Thursday, May 28th. Amcor's payout ratio is presently 181.82%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AMCR. Weiss Ratings raised Amcor from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, May 11th. Truist Financial reaffirmed a "buy" rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft began coverage on Amcor in a research note on Wednesday, April 1st. They set a "buy" rating and a $50.00 target price for the company. Wells Fargo & Company set a $41.00 target price on Amcor and gave the stock an "equal weight" rating in a research note on Wednesday, May 20th. Finally, Citigroup reduced their target price on Amcor from $54.00 to $47.00 and set a "buy" rating for the company in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $49.33.

Amcor Profile

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.

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