Investors Purchase High Volume of Call Options on Amcor (NYSE:AMCR)

Amcor plc (NYSE:AMCR) was the recipient of unusually large options trading activity on Friday. Stock investors bought 15,246 call options on the stock. This is an increase of 991% compared to the average volume of 1,397 call options.

Amcor Stock Performance

Shares of AMCR stock opened at $9.34 on Friday. Amcor has a 52 week low of $8.37 and a 52 week high of $11.48. The company has a market capitalization of $13.49 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 1.96 and a beta of 0.78. The company has a 50-day simple moving average of $9.79 and a 200 day simple moving average of $10.09. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same period last year, the business posted $0.09 earnings per share. The business’s revenue for the quarter was down .3% compared to the same quarter last year. On average, sell-side analysts predict that Amcor will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were given a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.46%. The ex-dividend date was Wednesday, February 26th. Amcor’s payout ratio is 92.73%.

Insiders Place Their Bets

In related news, Director Achal Agarwal purchased 10,000 shares of the stock in a transaction on Thursday, February 27th. The shares were purchased at an average price of $10.10 per share, with a total value of $101,000.00. Following the transaction, the director now directly owns 88,967 shares of the company’s stock, valued at $898,566.70. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Amcor

A number of hedge funds and other institutional investors have recently modified their holdings of AMCR. Jones Financial Companies Lllp increased its position in Amcor by 247.4% during the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock worth $35,000 after acquiring an additional 2,660 shares during the period. Quarry LP grew its position in shares of Amcor by 2,064.5% during the 4th quarter. Quarry LP now owns 3,723 shares of the company’s stock worth $35,000 after purchasing an additional 3,551 shares in the last quarter. Huntington National Bank grew its position in shares of Amcor by 52.4% during the 4th quarter. Huntington National Bank now owns 4,426 shares of the company’s stock worth $42,000 after purchasing an additional 1,522 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Amcor during the fourth quarter worth approximately $44,000. Finally, Menard Financial Group LLC acquired a new stake in shares of Amcor in the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

AMCR has been the topic of a number of recent analyst reports. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and lifted their price objective for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Finally, Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and upped their target price for the company from $11.00 to $12.00 in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Amcor currently has a consensus rating of “Moderate Buy” and an average target price of $11.46.

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.