Amcor plc (NYSE:AMCR) Short Interest Update

Amcor plc (NYSE:AMCR) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 67,200,000 shares, a growth of 49.6% from the November 30th total of 44,920,000 shares. Currently, 4.7% of the shares of the stock are short sold. Based on an average trading volume of 11,950,000 shares, the short-interest ratio is currently 5.6 days.

Hedge Funds Weigh In On Amcor

Several large investors have recently modified their holdings of the business. M&G PLC lifted its stake in Amcor by 5.9% during the third quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after purchasing an additional 2,775,794 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Amcor by 4.8% during the 3rd 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 in the last quarter. Geode Capital Management LLC boosted its holdings in Amcor by 2.0% during the 3rd 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 during the period. ProShare Advisors LLC grew its position in Amcor by 7.8% in the 2nd quarter. ProShare Advisors LLC now owns 19,916,478 shares of the company’s stock valued at $194,783,000 after acquiring an additional 1,443,364 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Amcor by 11.6% during the second quarter. Dimensional Fund Advisors LP now owns 14,721,829 shares of the company’s stock worth $143,989,000 after purchasing an additional 1,527,492 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on AMCR shares. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Wells Fargo & Company lifted their price target on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a research note on Wednesday, December 11th. Finally, Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Amcor has a consensus rating of “Moderate Buy” and an average target price of $11.20.

Amcor Trading Down 1.4 %

Shares of AMCR traded down $0.13 during midday trading on Monday, reaching $9.31. The company had a trading volume of 1,368,310 shares, compared to its average volume of 9,866,258. The firm has a 50 day simple moving average of $10.26 and a 200-day simple moving average of $10.49. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. The stock has a market cap of $13.46 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82. Amcor has a 1-year low of $8.78 and a 1-year high of $11.48.

Amcor (NYSE:AMCR) last posted its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The company had revenue of $3.35 billion for 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%. Amcor’s revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.16 EPS. Research analysts forecast that Amcor will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.1275 per share. This is a boost from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, November 21st. This represents a $0.51 annualized dividend and a yield of 5.48%. Amcor’s dividend payout ratio (DPR) is 96.23%.

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.