Amcor Sees Unusually Large Options Volume (NYSE:AMCR)

Amcor plc (NYSE:AMCR) was the target of unusually large options trading activity on Tuesday. Investors acquired 8,483 call options on the company. This is an increase of approximately 842% compared to the average daily volume of 901 call options.

Wall Street Analyst Weigh In

AMCR has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Citigroup boosted their price target on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Robert W. Baird upped their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Finally, Wells Fargo & Company raised their price target on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $10.94.

Hedge Funds Weigh In On Amcor

Several hedge funds and other institutional investors have recently made changes to their positions in AMCR. Vanguard Group Inc. lifted its stake in Amcor by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock valued at $539,686,000 after purchasing an additional 1,170,986 shares during the last quarter. M&G PLC lifted its holdings in shares of Amcor by 5.9% in the 3rd quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after purchasing an additional 2,775,794 shares in the last quarter. M&G Plc grew its holdings in Amcor by 2,741.7% during the second quarter. M&G Plc now owns 47,164,358 shares of the company’s stock worth $471,644,000 after buying an additional 45,504,608 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Amcor by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock valued at $489,348,000 after buying an additional 1,960,308 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Amcor by 2.0% in the third quarter. Geode Capital Management LLC now owns 36,317,037 shares of the company’s stock worth $410,144,000 after purchasing an additional 697,320 shares during the last quarter. 45.14% of the stock is owned by institutional investors.

Amcor Trading Down 2.6 %

Amcor stock opened at $9.89 on Wednesday. Amcor has a 52 week low of $8.78 and a 52 week high of $11.48. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. The firm has a market capitalization of $14.29 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 1.84 and a beta of 0.85. The company has a 50 day moving average price of $10.88 and a 200 day moving average price of $10.50.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the business earned $0.16 earnings per share. The business’s revenue was down 2.6% on a year-over-year basis. Research analysts forecast that Amcor will post 0.74 EPS for the current year.

Amcor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.1275 per share. This is a boost from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 annualized dividend and a dividend yield of 5.16%. The ex-dividend date of this dividend is Thursday, November 21st. Amcor’s dividend payout ratio is currently 94.34%.

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.