Toronto Dominion Bank Sells 110,967 Shares of Amcor plc (NYSE:AMCR)

Toronto Dominion Bank trimmed its holdings in shares of Amcor plc (NYSE:AMCR) by 2.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,704,627 shares of the company’s stock after selling 110,967 shares during the quarter. Toronto Dominion Bank owned about 0.33% of Amcor worth $46,011,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new position in Amcor in the 4th quarter worth $47,669,000. Orion Portfolio Solutions LLC increased its stake in Amcor by 28.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 55,556 shares of the company’s stock valued at $545,000 after acquiring an additional 12,422 shares during the period. Advisory Services Network LLC increased its stake in Amcor by 13.1% during the fourth quarter. Advisory Services Network LLC now owns 102,926 shares of the company’s stock valued at $992,000 after acquiring an additional 11,944 shares during the period. Hsbc Holdings PLC raised its holdings in Amcor by 40.1% in the 4th quarter. Hsbc Holdings PLC now owns 733,425 shares of the company’s stock valued at $7,063,000 after acquiring an additional 210,101 shares in the last quarter. Finally, United Services Automobile Association lifted its position in shares of Amcor by 21.2% in the 4th quarter. United Services Automobile Association now owns 40,998 shares of the company’s stock worth $395,000 after acquiring an additional 7,167 shares during the period. 45.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. JPMorgan Chase & Co. raised 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. Robert W. Baird boosted their price target on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Citigroup increased their price objective on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Wells Fargo & Company boosted their target price on shares of Amcor from $9.80 to $10.50 and gave the company an “equal weight” rating in a research note on Friday, August 16th. Finally, Stifel Nicolaus initiated coverage on shares of Amcor in a report on Tuesday, July 9th. They set a “hold” rating and a $10.80 price target for the company. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Amcor currently has a consensus rating of “Hold” and an average price target of $10.73.

Amcor Price Performance

Shares of AMCR stock opened at $11.08 on Thursday. The stock’s fifty day moving average is $10.78 and its 200-day moving average is $10.05. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.17. Amcor plc has a 52 week low of $8.45 and a 52 week high of $11.45. The stock has a market capitalization of $16.01 billion, a PE ratio of 24.62, a PEG ratio of 2.73 and a beta of 0.85.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Thursday, August 15th. The company reported $0.21 earnings per share for the quarter, meeting the consensus estimate of $0.21. Amcor had a net margin of 5.35% and a return on equity of 25.45%. The firm had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter last year, the company posted $0.19 EPS. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. Equities research analysts expect that Amcor plc will post 0.75 EPS for the current fiscal year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend is Friday, September 6th. Amcor’s dividend payout ratio is 111.11%.

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.