Stock Traders Buy High Volume of Amcor Call Options (NYSE:AMCR)

Amcor plc (NYSE:AMCR) was the recipient of unusually large options trading on Tuesday. Traders purchased 8,483 call options on the company. This represents an increase of 842% compared to the typical volume of 901 call options.

Amcor Trading Down 0.9 %

Shares of NYSE:AMCR traded down $0.09 during trading on Tuesday, reaching $10.06. The company’s stock had a trading volume of 1,892,511 shares, compared to its average volume of 8,769,478. The firm’s 50 day simple moving average is $10.90 and its two-hundred day simple moving average is $10.50. Amcor has a 12 month low of $8.78 and a 12 month high of $11.48. The stock has a market capitalization of $14.54 billion, a PE ratio of 19.16, a price-to-earnings-growth ratio of 1.84 and a beta of 0.85. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR) last issued its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. The firm had revenue of $3.35 billion during the quarter, compared to analyst estimates of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The business’s revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.16 earnings per share. On average, research analysts predict that Amcor will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.1275 per share. The ex-dividend date is Thursday, November 21st. This represents a $0.51 dividend on an annualized basis and a yield of 5.07%. This is a positive change from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio is currently 94.34%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AMCR shares. Wells Fargo & Company increased their target price on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Citigroup raised their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Robert W. Baird upped their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. boosted their target price on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Amcor presently has an average rating of “Hold” and an average target price of $10.94.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AMCR. Vanguard Group Inc. grew its position in Amcor by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock worth $539,686,000 after purchasing an additional 1,170,986 shares during the last quarter. M&G PLC lifted its position in Amcor by 5.9% during the third quarter. M&G PLC now owns 49,940,152 shares of the company’s stock valued at $549,342,000 after purchasing an additional 2,775,794 shares during the period. M&G Plc raised its stake in shares of Amcor by 2,741.7% during the 2nd quarter. M&G Plc now owns 47,164,358 shares of the company’s stock valued at $471,644,000 after buying an additional 45,504,608 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Amcor by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock worth $489,348,000 after acquiring an additional 1,960,308 shares during the period. Finally, Geode Capital Management LLC raised its position in Amcor by 2.0% during the third quarter. Geode Capital Management LLC now owns 36,317,037 shares of the company’s stock valued at $410,144,000 after acquiring an additional 697,320 shares in the last quarter. Institutional investors 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.