Amcor plc (NYSE:AMCR) Holdings Decreased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of Amcor plc (NYSE:AMCR) by 19.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 804,459 shares of the company’s stock after selling 198,006 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.06% of Amcor worth $7,570,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AMCR. Prime Capital Investment Advisors LLC raised its position in Amcor by 6.1% in the third quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company’s stock worth $215,000 after acquiring an additional 1,085 shares in the last quarter. CWA Asset Management Group LLC raised its position in Amcor by 3.9% in the fourth quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company’s stock worth $304,000 after acquiring an additional 1,213 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its position in Amcor by 11.3% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 13,892 shares of the company’s stock worth $131,000 after acquiring an additional 1,409 shares in the last quarter. New York Life Investment Management LLC raised its position in Amcor by 0.8% in the fourth quarter. New York Life Investment Management LLC now owns 195,714 shares of the company’s stock worth $1,842,000 after acquiring an additional 1,507 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in Amcor by 0.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 442,152 shares of the company’s stock worth $4,161,000 after acquiring an additional 1,761 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Stock Performance

AMCR stock opened at $9.61 on Friday. The firm has a 50 day simple moving average of $9.89 and a 200 day simple moving average of $10.36. Amcor plc has a 52 week low of $8.80 and a 52 week high of $11.48. The stock has a market cap of $13.88 billion, a P/E ratio of 17.46, a P/E/G ratio of 1.96 and a beta of 0.80. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26.

Amcor (NYSE:AMCR) last issued its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The company had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same quarter last year, the business posted $0.09 EPS. The company’s revenue for the quarter was down .3% on a year-over-year basis. Research analysts anticipate that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be paid a $0.1275 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a yield of 5.31%. Amcor’s dividend payout ratio (DPR) is currently 92.73%.

Insider Buying and Selling at Amcor

In other news, Director Achal Agarwal bought 10,000 shares of the stock in a transaction on Thursday, February 27th. The shares were purchased at an average price 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. This trade represents a 12.66 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. 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 report on Wednesday, December 11th. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.46.

About Amcor

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.