Amcor Sees Unusually High Options Volume (NYSE:AMCR)

Amcor plc (NYSE:AMCR) saw some unusual options trading activity on Tuesday. Stock investors purchased 18,154 call options on the company. This is an increase of 1,034% compared to the average volume of 1,601 call options.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AMCR. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Truist Financial lowered their price target on shares of Amcor from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Finally, Raymond James started coverage on Amcor in a research report on Tuesday, April 22nd. They issued a “market perform” rating on the stock. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Amcor currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.31.

Amcor Stock Down 3.0 %

Shares of NYSE AMCR opened at $9.34 on Wednesday. The stock has a market capitalization of $13.50 billion, a P/E ratio of 16.98, a PEG ratio of 1.96 and a beta of 0.78. The stock’s fifty day moving average is $9.64 and its 200 day moving average is $9.94. Amcor has a 52 week low of $8.37 and a 52 week high of $11.48. 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 earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same period in the previous year, the company earned $0.09 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. Sell-side analysts forecast that Amcor will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

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

Insider Activity at Amcor

In other Amcor news, Director Achal Agarwal bought 10,000 shares of Amcor stock in a transaction dated Thursday, February 27th. The stock was bought at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the purchase, the director now owns 88,967 shares of the company’s stock, valued at $898,566.70. The trade was a 12.66 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is currently owned by company insiders.

Institutional Trading of Amcor

Several institutional investors and hedge funds have recently modified their holdings of the business. Rakuten Securities Inc. lifted its holdings in shares of Amcor by 18,725.0% in the first quarter. Rakuten Securities Inc. now owns 3,012 shares of the company’s stock worth $29,000 after acquiring an additional 2,996 shares during the last quarter. HM Payson & Co. acquired a new position in Amcor in the 1st quarter worth about $30,000. CVA Family Office LLC increased its holdings in Amcor by 234.1% in the 1st quarter. CVA Family Office LLC now owns 3,254 shares of the company’s stock worth $32,000 after purchasing an additional 2,280 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Amcor by 247.4% during the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock valued at $35,000 after purchasing an additional 2,660 shares in the last quarter. Finally, Quarry LP grew its holdings in shares of Amcor by 2,064.5% during the fourth quarter. Quarry LP now owns 3,723 shares of the company’s stock worth $35,000 after purchasing an additional 3,551 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors.

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.