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

Amcor plc (NYSE:AMCR) saw unusually large options trading activity on Tuesday. Stock investors acquired 18,154 call options on the stock. This is an increase of approximately 1,034% compared to the average volume of 1,601 call options.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, Director Achal Agarwal purchased 10,000 shares of the stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the acquisition, the director now owns 88,967 shares in the company, valued at $898,566.70. This trade represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. UMB Bank n.a. increased its holdings in Amcor by 20.0% during the first quarter. UMB Bank n.a. now owns 6,386 shares of the company’s stock worth $62,000 after buying an additional 1,066 shares during the last quarter. CWA Asset Management Group LLC grew its position in shares of Amcor by 3.9% during the 4th quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company’s stock valued at $304,000 after acquiring an additional 1,213 shares during the period. Koshinski Asset Management Inc. increased its stake in shares of Amcor by 10.1% during the 1st quarter. Koshinski Asset Management Inc. now owns 13,659 shares of the company’s stock worth $132,000 after purchasing an additional 1,252 shares during the last quarter. Virtue Capital Management LLC raised its holdings in shares of Amcor by 2.8% in the 4th quarter. Virtue Capital Management LLC now owns 45,924 shares of the company’s stock worth $432,000 after purchasing an additional 1,259 shares during the period. Finally, Utah Retirement Systems lifted its stake in Amcor by 1.1% in the fourth quarter. Utah Retirement Systems now owns 120,076 shares of the company’s stock valued at $1,130,000 after purchasing an additional 1,300 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

AMCR stock opened at $9.34 on Wednesday. The company has a market capitalization of $13.50 billion, a P/E ratio of 16.98, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. Amcor has a 52-week low of $8.37 and a 52-week high of $11.48. The business has a 50-day simple moving average of $9.64 and a two-hundred day simple moving average of $9.94. 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 posted its earnings results 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 analyst estimates of $3.33 billion. During the same quarter in the prior year, the business posted $0.09 EPS. The business’s revenue was down .3% compared to the same quarter last year. Research analysts expect that Amcor will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently announced 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 of this dividend was Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.46%. Amcor’s payout ratio is presently 92.73%.

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.