Amcor Target of Unusually High Options Trading (NYSE:AMCR)

Amcor plc (NYSE:AMCR) was the recipient of unusually large options trading on Friday. Traders bought 13,512 put options on the company. This is an increase of 449% compared to the typical volume of 2,461 put options.

Insider Transactions at Amcor

In related news, Director Achal Agarwal purchased 10,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was purchased at an average cost of $10.10 per share, with a total value of $101,000.00. Following the completion of the acquisition, the director now directly owns 88,967 shares of the company’s stock, valued at approximately $898,566.70. The trade was a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Larson Financial Group LLC increased its holdings in shares of Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after buying an additional 2,319 shares during the period. True Wealth Design LLC increased its holdings in shares of Amcor by 3,794.1% in the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after buying an additional 3,225 shares during the period. Quarry LP increased its holdings in shares of Amcor by 2,064.5% in the fourth quarter. Quarry LP now owns 3,723 shares of the company’s stock worth $35,000 after buying an additional 3,551 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Amcor by 247.4% in the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock worth $35,000 after buying an additional 2,660 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Amcor in the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Trading Down 2.9 %

NYSE AMCR opened at $9.44 on Friday. The stock’s 50-day simple moving average is $9.93 and its two-hundred day simple moving average is $10.30. Amcor has a twelve month low of $8.80 and a twelve month high of $11.48. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $13.64 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the business posted $0.09 earnings per share. Research analysts forecast that Amcor will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were issued a $0.1275 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.51 annualized dividend and a dividend yield of 5.41%. Amcor’s dividend payout ratio is currently 92.73%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AMCR shares. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Truist Financial raised 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 note on Monday, January 6th. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Finally, Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a research note on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average 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.