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

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

Amcor Trading Down 0.6%

Shares of AMCR stock traded down $0.27 during trading hours on Thursday, reaching $43.92. The company’s stock had a trading volume of 7,814,642 shares, compared to its average volume of 5,161,658. The company has a current ratio of 1.04, a quick ratio of 0.62 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $20.25 billion, a P/E ratio of 25.83, a P/E/G ratio of 1.03 and a beta of 0.68. The firm’s fifty day simple moving average is $42.32 and its 200 day simple moving average is $42.73. Amcor has a one year low of $38.33 and a one year high of $52.25.

Amcor (NYSE:AMCR) last announced its earnings results on Wednesday, November 5th. The company reported $0.96 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $5.77 billion. During the same quarter in the prior year, the company earned $0.80 EPS. The business’s revenue was up 71.3% compared to the same quarter last year. Equities research analysts expect that Amcor will post 0.74 EPS for the current year.

Amcor Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Friday, November 28th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 5.9%. This is a boost from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, November 28th. Amcor’s dividend payout ratio is currently 152.94%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Amcor in a report on Wednesday, January 21st. Truist Financial raised their target price on Amcor from $55.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Morgan Stanley lowered shares of Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price target on the stock. 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 report 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 report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $52.14.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Amcor by 8.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,381 shares of the company’s stock worth $2,596,000 after purchasing an additional 20,757 shares during the last quarter. Focus Partners Wealth boosted its holdings in shares of Amcor by 11.3% in the 1st quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock valued at $418,000 after buying an additional 4,396 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Amcor during the 2nd quarter worth approximately $138,000. Farther Finance Advisors LLC lifted its position in Amcor by 5.3% during the second quarter. Farther Finance Advisors LLC now owns 20,689 shares of the company’s stock valued at $190,000 after acquiring an additional 1,035 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in Amcor by 6.1% in the second quarter. Fifth Third Bancorp now owns 70,433 shares of the company’s stock valued at $647,000 after acquiring an additional 4,064 shares in the last quarter. Institutional investors own 45.14% of the company’s stock.

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.