TD Asset Management Inc reduced its holdings in Amcor plc (NYSE:AMCR – Free Report) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 657,886 shares of the company’s stock after selling 6,487 shares during the period. TD Asset Management Inc’s holdings in Amcor were worth $6,566,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in AMCR. Ameritas Advisory Services LLC purchased a new stake in shares of Amcor in the 1st quarter valued at $27,000. Money Concepts Capital Corp purchased a new stake in shares of Amcor in the 4th quarter valued at $31,000. Clear Street Markets LLC boosted its holdings in Amcor by 93.6% during the first quarter. Clear Street Markets LLC now owns 2,913 shares of the company’s stock worth $33,000 after buying an additional 1,408 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in Amcor by 697.2% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 4,504 shares of the company’s stock worth $51,000 after buying an additional 3,939 shares in the last quarter. Finally, Chilton Capital Management LLC purchased a new stake in Amcor during the first quarter worth $63,000. 49.52% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts recently issued reports on the stock. Truist Financial lowered their price target on shares of Amcor from $11.00 to $10.00 and set a “hold” rating on the stock in a report on Friday, November 3rd. TheStreet downgraded shares of Amcor from a “b-” rating to a “c+” rating in a report on Wednesday, September 27th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Amcor has an average rating of “Hold” and an average price target of $10.40.
Amcor Stock Performance
NYSE:AMCR opened at $9.37 on Tuesday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.74 and a current ratio of 1.27. The company has a fifty day moving average of $9.00 and a two-hundred day moving average of $9.59. The stock has a market capitalization of $13.54 billion, a PE ratio of 14.20, a P/E/G ratio of 10.25 and a beta of 0.80. Amcor plc has a fifty-two week low of $8.45 and a fifty-two week high of $12.78.
Amcor (NYSE:AMCR – Get Free Report) last posted its quarterly earnings data on Tuesday, October 31st. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The company had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.35 billion. Amcor had a net margin of 6.72% and a return on equity of 24.92%. As a group, research analysts forecast that Amcor plc will post 0.69 earnings per share for the current fiscal year.
Amcor Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Wednesday, November 22nd will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This is a boost from Amcor’s previous quarterly dividend of $0.12. This represents a $0.50 dividend on an annualized basis and a yield of 5.34%. Amcor’s dividend payout ratio is currently 75.76%.
Insiders Place Their Bets
In other news, Director Arun Nayar sold 30,000 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $9.40, for a total value of $282,000.00. Following the completion of the sale, the director now directly owns 45,072 shares in the company, valued at $423,676.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.69% of the stock is currently owned by company insiders.
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.
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