Amcor plc (NYSE:AMCR) Short Interest Up 6.7% in August

Amcor plc (NYSE:AMCRGet Rating) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 36,200,000 shares, a growth of 6.7% from the August 15th total of 33,920,000 shares. Currently, 2.5% of the company’s stock are short sold. Based on an average daily trading volume, of 9,430,000 shares, the days-to-cover ratio is presently 3.8 days.

Amcor Trading Down 1.9 %

Shares of Amcor stock opened at $11.22 on Thursday. Amcor has a 1 year low of $10.66 and a 1 year high of $13.60. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.67 and a current ratio of 1.15. The company has a market capitalization of $16.71 billion, a P/E ratio of 21.17, a PEG ratio of 2.34 and a beta of 0.77. The company’s fifty day moving average is $12.42 and its two-hundred day moving average is $12.24.

Amcor (NYSE:AMCRGet Rating) last issued its earnings results on Wednesday, August 17th. The company reported $0.24 earnings per share for the quarter, meeting the consensus estimate of $0.24. The business had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.82 billion. Amcor had a net margin of 5.53% and a return on equity of 27.37%. During the same quarter in the previous year, the firm earned $0.23 earnings per share. Analysts forecast that Amcor will post 0.81 earnings per share for the current year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 28th. Stockholders of record on Thursday, September 8th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 4.28%. The ex-dividend date is Wednesday, September 7th. Amcor’s payout ratio is 90.57%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. CLSA assumed coverage on shares of Amcor in a research report on Tuesday, July 19th. They issued a “buy” rating on the stock. Macquarie downgraded shares of Amcor from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 18th. Jefferies Financial Group downgraded shares of Amcor from a “hold” rating to an “underperform” rating in a research report on Thursday, August 18th. Finally, Morgan Stanley downgraded shares of Amcor from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 4th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $12.15.

Insider Activity

In other news, CEO Ronald Stephen Delia sold 177,185 shares of Amcor stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $12.41, for a total value of $2,198,865.85. Following the completion of the transaction, the chief executive officer now owns 1,700,000 shares in the company, valued at approximately $21,097,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Eric V. Roegner sold 1,035,748 shares of the stock in a transaction on Friday, August 26th. The shares were sold at an average price of $12.58, for a total value of $13,029,709.84. Following the transaction, the insider now directly owns 278,308 shares of the company’s stock, valued at approximately $3,501,114.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ronald Stephen Delia sold 177,185 shares of the stock in a transaction on Monday, September 12th. The shares were sold at an average price of $12.41, for a total transaction of $2,198,865.85. Following the completion of the transaction, the chief executive officer now directly owns 1,700,000 shares in the company, valued at $21,097,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,905,114 shares of company stock worth $35,840,080. 0.39% of the stock is currently owned by company insiders.

Institutional Trading of Amcor

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Concord Wealth Partners boosted its holdings in shares of Amcor by 23.4% in the second quarter. Concord Wealth Partners now owns 4,656 shares of the company’s stock valued at $58,000 after acquiring an additional 882 shares in the last quarter. Verdence Capital Advisors LLC lifted its stake in shares of Amcor by 1.1% in the first quarter. Verdence Capital Advisors LLC now owns 89,569 shares of the company’s stock valued at $1,015,000 after purchasing an additional 950 shares during the period. AdvisorNet Financial Inc lifted its stake in shares of Amcor by 27.9% in the second quarter. AdvisorNet Financial Inc now owns 4,705 shares of the company’s stock valued at $58,000 after purchasing an additional 1,025 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Amcor by 1.2% in the first quarter. CIBC Asset Management Inc now owns 85,076 shares of the company’s stock valued at $964,000 after purchasing an additional 1,032 shares during the period. Finally, Checchi Capital Advisers LLC lifted its stake in shares of Amcor by 6.8% in the first quarter. Checchi Capital Advisers LLC now owns 16,629 shares of the company’s stock valued at $188,000 after purchasing an additional 1,059 shares during the period. Hedge funds and other institutional investors own 47.76% of the company’s stock.

Amcor Company Profile

(Get Rating)

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.

Further Reading

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