Traders Buy Large Volume of Call Options on Amcor (NYSE:AMCR)

Amcor plc (NYSE:AMCR - Get Free Report) saw some unusual options trading activity on Friday. Stock investors purchased 15,246 call options on the stock. This is an increase of approximately 991% compared to the typical volume of 1,397 call options.

Wall Street Analyst Weigh In

AMCR has been the subject of several research analyst reports. Jefferies Financial Group upgraded Amcor from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Truist Financial upgraded shares of Amcor from a "hold" rating to a "buy" rating and increased their price objective for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Finally, Citigroup raised shares of Amcor from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $11.46.

Amcor Stock Performance

Shares of Amcor stock traded down $0.18 during trading hours on Tuesday, reaching $9.37. The company's stock had a trading volume of 28,458,711 shares, compared to its average volume of 14,856,623. Amcor has a one year low of $8.37 and a one year high of $11.48. The company's 50 day simple moving average is $9.76 and its 200 day simple moving average is $10.06. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. The stock has a market cap of $13.54 billion, a P/E ratio of 17.03, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78.

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Amcor (NYSE:AMCR - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The company had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The business's revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.09 earnings per share. As a group, analysts expect that Amcor will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were given a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 5.45%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor's dividend payout ratio is presently 92.73%.

Insider Buying and Selling at Amcor

In other news, Director Achal Agarwal acquired 10,000 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was bought at an average cost of $10.10 per share, with a total value of $101,000.00. Following the transaction, the director now directly owns 88,967 shares in the company, valued at approximately $898,566.70. This represents a 12.66 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amcor

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Amcor by 2.2% in 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. raised its holdings in shares of Amcor by 6.6% during 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 raised its holdings in shares of Amcor by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 36,856,793 shares of the company's stock valued at $345,952,000 after buying an additional 539,756 shares during the last quarter. Invesco Ltd. boosted its position in shares of Amcor by 16.0% during the fourth 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 grew its holdings in Amcor by 25.1% in 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 in the last quarter. Institutional investors and hedge funds own 45.14% of the company's stock.

About Amcor

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.