Amcor plc (NYSE:AMCR) Short Interest Up 23.0% in May

Amcor plc (NYSE:AMCRGet Rating) was the target of a significant increase in short interest in May. As of May 31st, there was short interest totalling 51,010,000 shares, an increase of 23.0% from the May 15th total of 41,460,000 shares. Based on an average daily volume of 10,440,000 shares, the short-interest ratio is presently 4.9 days. Currently, 3.4% of the company’s stock are short sold.

A number of brokerages have recently commented on AMCR. TheStreet raised shares of Amcor from a “c” rating to a “b” rating in a research report on Friday, May 13th. Truist Financial assumed coverage on shares of Amcor in a report on Friday, March 25th. They set a “hold” rating and a $12.00 target price for the company. Finally, Bank of America lowered shares of Amcor from a “buy” rating to an “underperform” rating and decreased their price target for the company from $13.40 to $12.30 in a research note on Friday, March 25th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Amcor presently has an average rating of “Hold” and a consensus target price of $12.70.

Shares of AMCR opened at $11.71 on Friday. Amcor has a 52 week low of $10.66 and a 52 week high of $13.60. The firm has a market cap of $17.60 billion, a P/E ratio of 18.89, a price-to-earnings-growth ratio of 1.52 and a beta of 0.77. The firm’s 50-day simple moving average is $12.49 and its 200 day simple moving average is $11.96. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.85 and a current ratio of 1.39.

Amcor (NYSE:AMCRGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The company reported $0.20 EPS for the quarter, meeting analysts’ consensus estimates of $0.20. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.40 billion. Amcor had a net margin of 6.75% and a return on equity of 26.05%. Amcor’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.17 EPS. As a group, equities analysts forecast that Amcor will post 0.81 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 14th. Shareholders of record on Wednesday, May 25th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date was Tuesday, May 24th. Amcor’s dividend payout ratio is currently 77.42%.

In other news, VP Julie Marie Sorrells sold 17,283 shares of Amcor stock in a transaction dated Friday, May 6th. The shares were sold at an average price of $12.55, for a total value of $216,901.65. Following the completion of the transaction, the vice president now owns 20,733 shares of the company’s stock, valued at approximately $260,199.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael J. Zacka sold 33,500 shares of Amcor stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $13.16, for a total transaction of $440,860.00. Following the completion of the transaction, the insider now directly owns 172,270 shares of the company’s stock, valued at approximately $2,267,073.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 951,350 shares of company stock valued at $12,057,859. 0.28% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Marshall Wace LLP bought a new stake in Amcor in the 4th quarter valued at about $32,000. Baystate Wealth Management LLC bought a new stake in Amcor in the 4th quarter valued at about $36,000. Concord Wealth Partners boosted its holdings in Amcor by 111.7% in the 4th quarter. Concord Wealth Partners now owns 3,118 shares of the company’s stock valued at $37,000 after purchasing an additional 1,645 shares during the period. AdvisorNet Financial Inc boosted its holdings in Amcor by 24,433.3% in the 1st quarter. AdvisorNet Financial Inc now owns 3,680 shares of the company’s stock valued at $42,000 after purchasing an additional 3,665 shares during the period. Finally, Eagle Bay Advisors LLC lifted its holdings in shares of Amcor by 36.6% during the 4th quarter. Eagle Bay Advisors LLC now owns 3,623 shares of the company’s stock worth $43,000 after acquiring an additional 970 shares during the period. 43.56% of the stock is owned by hedge funds and other institutional investors.

Amcor Company Profile (Get Rating)

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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