Amcor PLC (NYSE:AMCR) Short Interest Down 74.0% in January

Amcor PLC (NYSE:AMCR) saw a significant drop in short interest in the month of January. As of January 15th, there was short interest totaling 25,866,081 shares, a drop of 74.0% from the December 31st total of 99,483,141 shares. Approximately 5.6% of the shares of the company are sold short. Based on an average daily volume of 3,949,334 shares, the short-interest ratio is presently 6.5 days. Based on an average daily volume of 3,949,334 shares, the short-interest ratio is presently 6.5 days. Approximately 5.6% of the shares of the company are sold short.

Institutional Trading of Amcor

Large investors have recently bought and sold shares of the business. NewSquare Capital LLC boosted its position in Amcor by 377.9% during the second quarter. NewSquare Capital LLC now owns 2,810 shares of the company’s stock worth $26,000 after purchasing an additional 2,222 shares during the period. Quent Capital LLC bought a new stake in Amcor in the 3rd quarter valued at about $27,000. Brown Lisle Cummings Inc. grew its position in Amcor by 137.9% during the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock worth $29,000 after buying an additional 2,000 shares in the last quarter. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of Amcor during the 2nd quarter worth $33,000. Finally, DecisionPoint Financial LLC acquired a new stake in Amcor during the second quarter worth about $34,000. 45.14% of the stock is owned by institutional investors.

Amcor Stock Up 0.9%

NYSE AMCR traded up $0.38 during trading on Friday, reaching $44.27. The company’s stock had a trading volume of 6,781,601 shares, compared to its average volume of 5,552,475. The business has a 50-day moving average price of $42.35 and a 200-day moving average price of $42.70. Amcor has a 1-year low of $38.33 and a 1-year high of $52.25. The stock has a market capitalization of $20.41 billion, a PE ratio of 26.04, a PEG ratio of 1.02 and a beta of 0.68. The company has a current ratio of 1.04, a quick ratio of 0.62 and a debt-to-equity ratio of 1.09.

Amcor (NYSE:AMCR) last announced its earnings results on Wednesday, November 5th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.01. Amcor had a return on equity of 17.35% and a net margin of 3.34%.The firm had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter in the prior year, the company earned $0.80 EPS. The firm’s revenue for the quarter was up 71.3% compared to the same quarter last year. On average, research analysts forecast that Amcor will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Friday, November 28th were issued a $0.65 dividend. This is a positive change from Amcor’s previous quarterly dividend of $0.13. This represents a $2.60 annualized dividend and a yield of 5.9%. The ex-dividend date was Friday, November 28th. Amcor’s dividend payout ratio (DPR) is 152.94%.

Wall Street Analysts Forecast Growth

AMCR has been the topic of several research analyst reports. Truist Financial raised their target price on shares of Amcor from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Amcor in a research note on Wednesday, January 21st. Morgan Stanley downgraded Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 target price for the company. in a research report on Wednesday. Stifel Nicolaus raised Amcor from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Friday, October 10th. Finally, Wells Fargo & Company boosted their price objective on Amcor from $9.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $52.14.

Amcor Company Profile

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.