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

Amcor plc (NYSE:AMCR) saw some unusual options trading on Tuesday. Stock investors purchased 8,483 call options on the stock. This represents an increase of 842% compared to the typical volume of 901 call options.

Amcor Stock Performance

Shares of NYSE:AMCR traded down $0.09 during trading on Tuesday, reaching $10.06. The company had a trading volume of 1,892,511 shares, compared to its average volume of 8,769,478. The stock’s fifty day moving average price is $10.90 and its 200 day moving average price is $10.50. Amcor has a fifty-two week low of $8.78 and a fifty-two week high of $11.48. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. The firm has a market capitalization of $14.54 billion, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 1.84 and a beta of 0.85.

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. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the company posted $0.16 earnings per share. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. As a group, equities research analysts predict that Amcor will post 0.74 EPS for the current year.

Amcor Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be paid a $0.1275 dividend. 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. The ex-dividend date is Thursday, November 21st. Amcor’s dividend payout ratio (DPR) is presently 94.34%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC grew its stake in Amcor by 3,410.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after purchasing an additional 2,319 shares in the last quarter. Rise Advisors LLC bought a new stake in shares of Amcor during the 3rd quarter worth about $35,000. ORG Wealth Partners LLC acquired a new position in shares of Amcor during the 3rd quarter valued at $35,000. Quent Capital LLC raised its position in Amcor by 51.8% in the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after acquiring an additional 1,241 shares in the last quarter. Finally, True Wealth Design LLC increased its holdings in shares of Amcor by 3,794.1% in the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after buying an additional 3,225 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analyst Ratings Changes

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

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.