Zions Bancorporation National Association UT Invests $3.23 Million in Amcor PLC (NYSE:AMCR)

Key Points

• Zions Bancorporation invested approximately $3.23 million in Amcor PLC by purchasing 332,760 shares, marking a significant move in the first quarter.
• Amcor's stock has been upgraded to a "buy" rating by several brokerages, including UBS Group, with a consensus price target of $11.51.
• Institutional investors currently hold 45.14% of Amcor's stock, indicating strong interest from large financial entities.

Zions Bancorporation National Association UT acquired a new position in Amcor PLC (NYSE:AMCR - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 332,760 shares of the company's stock, valued at approximately $3,228,000.

Other large investors have also recently bought and sold shares of the company. Rakuten Securities Inc. boosted its holdings in shares of Amcor by 18,725.0% during the first quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock worth $29,000 after purchasing an additional 2,996 shares during the period. HM Payson & Co. bought a new position in Amcor during the 1st quarter valued at about $30,000. Brentview Investment Management LLC acquired a new position in Amcor during the 1st quarter worth about $31,000. CVA Family Office LLC lifted its position in Amcor by 234.1% during the 1st quarter. CVA Family Office LLC now owns 3,254 shares of the company's stock valued at $32,000 after purchasing an additional 2,280 shares during the period. Finally, Quarry LP lifted its position in Amcor by 2,064.5% during the 4th quarter. Quarry LP now owns 3,723 shares of the company's stock valued at $35,000 after purchasing an additional 3,551 shares during the period. Institutional investors and hedge funds own 45.14% of the company's stock.

Amcor Price Performance

Shares of NYSE AMCR traded up $0.10 during trading hours on Wednesday, reaching $9.87. 9,729,890 shares of the stock traded hands, compared to its average volume of 28,578,422. The company has a market capitalization of $14.26 billion, a P/E ratio of 17.62, a price-to-earnings-growth ratio of 1.23 and a beta of 0.74. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 2.24. Amcor PLC has a 52-week low of $8.37 and a 52-week high of $11.48. The company's 50-day simple moving average is $9.42 and its two-hundred day simple moving average is $9.53.

Analyst Ratings Changes

A number of analysts recently issued reports on AMCR shares. Jefferies Financial Group initiated coverage on Amcor in a research note on Wednesday, July 2nd. They set a "buy" rating and a $12.00 target price for the company. Raymond James Financial began coverage on Amcor in a research report on Tuesday, April 22nd. They set a "market perform" rating on the stock. Wells Fargo & Company raised their price target on Amcor from $10.00 to $11.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Truist Financial set a $11.00 price target on Amcor and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, UBS Group raised Amcor from a "neutral" rating to a "buy" rating in a research note on Thursday, June 26th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $11.51.

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.