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

Amcor plc (NYSE:AMCR) was the recipient of some unusual options trading activity on Friday. Stock traders bought 13,512 put options on the company. This represents an increase of 449% compared to the average volume of 2,461 put options.

Amcor Trading Down 2.9 %

NYSE:AMCR opened at $9.44 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. Amcor has a 1-year low of $8.80 and a 1-year high of $11.48. The firm 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. The business’s 50-day moving average price is $9.93 and its two-hundred day moving average price is $10.29.

Amcor (NYSE:AMCR) last announced 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 net margin of 5.89% and a return on equity of 26.14%. Amcor’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the company posted $0.09 EPS. On average, equities analysts expect that Amcor will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

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

Insider Buying and Selling at Amcor

In other Amcor news, Director Achal Agarwal purchased 10,000 shares of the company’s stock in a transaction that occurred on 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 acquisition, the director now directly owns 88,967 shares of the company’s stock, valued at approximately $898,566.70. This trade represents a 12.66 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Amcor

Several institutional investors and hedge funds have recently modified their holdings of the business. Larson Financial Group LLC lifted its stake in Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after buying an additional 2,319 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Amcor by 247.4% in the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock worth $35,000 after purchasing an additional 2,660 shares during the period. Quarry LP increased its holdings in 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. True Wealth Design LLC raised its stake in shares of Amcor by 3,794.1% in the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after purchasing an additional 3,225 shares during the period. Finally, Huntington National Bank lifted its holdings in shares of Amcor by 52.4% in the fourth quarter. Huntington National Bank now owns 4,426 shares of the company’s stock valued at $42,000 after purchasing an additional 1,522 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMCR has been the topic of several research reports. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and raised their price target for the company from $11.00 to $12.00 in a report on Monday, January 6th. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Truist Financial raised Amcor from a “hold” rating to a “buy” rating and lifted their target price for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Finally, UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating, six have issued 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 a consensus 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.