Zions Bancorporation N.A. Sells 95,356 Shares of Amcor plc (NYSE:AMCR)

Zions Bancorporation N.A. decreased its stake in shares of Amcor plc (NYSE:AMCR) by 25.0% during the third quarter, HoldingsChannel.com reports. The fund owned 285,534 shares of the company’s stock after selling 95,356 shares during the period. Zions Bancorporation N.A.’s holdings in Amcor were worth $3,235,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in shares of Amcor in the third quarter worth about $35,000. ORG Wealth Partners LLC bought a new position in Amcor in the 3rd quarter worth approximately $35,000. Quent Capital LLC lifted its holdings in shares of Amcor by 51.8% during the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after buying an additional 1,241 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Amcor by 132.8% in the first quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after acquiring an additional 2,519 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in Amcor by 38.7% during the 2nd quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock valued at $46,000 after purchasing an additional 1,299 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Stock Performance

Shares of NYSE:AMCR opened at $10.12 on Thursday. The stock has a market capitalization of $14.62 billion, a price-to-earnings ratio of 19.09, a price-to-earnings-growth ratio of 1.83 and a beta of 0.85. The business’s fifty day moving average price is $10.96 and its two-hundred day moving average price is $10.48. Amcor plc has a fifty-two week low of $8.78 and a fifty-two week high of $11.48. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the firm posted $0.16 EPS. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. As a group, analysts predict that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be given a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 5.04%. The ex-dividend date is Thursday, November 21st. This is a boost from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio (DPR) is presently 94.34%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Citigroup upped their price target on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Robert W. Baird upped their target price on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $10.94.

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.