Stock Traders Purchase Large Volume of Amcor Put Options (NYSE:AMCR)

Amcor plc (NYSE:AMCR - Get Free Report) was the target of unusually large options trading on Friday. Stock traders acquired 13,512 put options on the stock. This represents an increase of 449% compared to the average daily volume of 2,461 put options.

Amcor Stock Down 0.4 %

Shares of AMCR traded down $0.04 during midday trading on Tuesday, hitting $9.52. 8,256,760 shares of the company's stock traded hands, compared to its average volume of 12,304,553. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $13.75 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80. Amcor has a 1 year low of $8.80 and a 1 year high of $11.48. The firm's fifty day moving average is $9.93 and its 200-day moving average is $10.27.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the company earned $0.09 earnings per share. The company's quarterly revenue was down .3% on a year-over-year basis. As a group, sell-side analysts anticipate that Amcor will post 0.74 earnings per share for the current year.

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Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were paid a dividend of $0.1275 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.51 annualized dividend and a dividend yield of 5.36%. Amcor's payout ratio is currently 92.73%.

Wall Street Analyst Weigh In

AMCR has been the subject of several research reports. Citigroup upgraded Amcor from a "neutral" rating to a "buy" rating and upped their target price for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Macquarie upgraded shares of Amcor from a "neutral" rating to an "outperform" rating in a report on Wednesday, November 27th. Truist Financial upgraded shares of Amcor from a "hold" rating to a "buy" rating and boosted their price target for the company from $10.00 to $12.00 in a report on Monday, January 6th. Bank of America upgraded shares of Amcor from an "underperform" rating to a "buy" rating and set a $12.50 price objective on the stock in a research note on Wednesday, December 11th. Finally, UBS Group upgraded Amcor from a "hold" rating to a "strong-buy" rating in a report on Wednesday, December 11th. Three 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 company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $11.46.

Insider Transactions at Amcor

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

Hedge Funds Weigh In On Amcor

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Amcor by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company's stock valued at $555,064,000 after purchasing an additional 1,249,868 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Amcor by 6.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company's stock valued at $433,358,000 after buying an additional 2,862,471 shares during the last quarter. Geode Capital Management LLC increased its holdings in Amcor by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 36,856,793 shares of the company's stock worth $345,952,000 after buying an additional 539,756 shares during the period. Invesco Ltd. increased its holdings in Amcor by 16.0% in the 4th quarter. Invesco Ltd. now owns 30,425,121 shares of the company's stock worth $286,300,000 after buying an additional 4,199,209 shares during the period. Finally, Wellington Management Group LLP raised its position in Amcor by 25.1% during the 4th quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company's stock worth $263,215,000 after buying an additional 5,614,233 shares during the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

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.