TD Private Client Wealth LLC Lowers Stock Position in Amcor PLC $AMCR

TD Private Client Wealth LLC decreased its holdings in shares of Amcor PLC (NYSE:AMCR) by 31.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 259,398 shares of the company’s stock after selling 118,448 shares during the period. TD Private Client Wealth LLC’s holdings in Amcor were worth $2,163,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. State Street Corp boosted its stake in shares of Amcor by 7.2% in the third quarter. State Street Corp now owns 139,077,241 shares of the company’s stock valued at $1,137,652,000 after buying an additional 9,375,255 shares in the last quarter. Vanguard Group Inc. raised its position in Amcor by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock worth $945,222,000 after acquiring an additional 1,845,627 shares in the last quarter. M&G PLC raised its position in Amcor by 26.6% in the third quarter. M&G PLC now owns 108,333,984 shares of the company’s stock worth $866,672,000 after acquiring an additional 22,737,979 shares in the last quarter. Invesco Ltd. lifted its holdings in Amcor by 29.9% in the third quarter. Invesco Ltd. now owns 47,111,558 shares of the company’s stock valued at $385,373,000 after acquiring an additional 10,846,351 shares during the period. Finally, Federated Hermes Inc. boosted its position in shares of Amcor by 103.9% during the 3rd quarter. Federated Hermes Inc. now owns 39,344,317 shares of the company’s stock worth $321,837,000 after purchasing an additional 20,052,979 shares in the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Robert W. Baird set a $54.00 price objective on shares of Amcor in a research note on Wednesday, February 4th. Wells Fargo & Company downgraded shares of Amcor from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $48.00 to $43.00 in a report on Friday, March 20th. Deutsche Bank Aktiengesellschaft began coverage on shares of Amcor in a research report on Wednesday, April 1st. They set a “buy” rating and a $50.00 target price on the stock. Finally, Truist Financial reiterated a “buy” rating and set a $51.00 price target (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Amcor presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.56.

Amcor Stock Down 2.1%

Amcor stock opened at $36.71 on Wednesday. Amcor PLC has a fifty-two week low of $36.47 and a fifty-two week high of $50.94. The firm has a market capitalization of $16.97 billion, a price-to-earnings ratio of 25.67, a price-to-earnings-growth ratio of 1.13 and a beta of 0.63. The stock’s fifty day moving average is $39.83 and its two-hundred day moving average is $42.36. 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 (NYSE:AMCR) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share (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 business had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the previous year, the company posted $0.90 EPS. The business’s revenue was up 77.4% on a year-over-year basis. Analysts predict that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th will be given a dividend of $0.65 per share. The ex-dividend date is Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a yield of 7.1%. Amcor’s payout ratio is presently 181.82%.

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.