Short Interest in Amcor plc (NYSE:AMCR) Declines By 53.0%

Amcor plc (NYSE:AMCR - Get Free Report) saw a large decrease in short interest in May. As of May 15th, there was short interest totalling 89,930,000 shares, a decrease of 53.0% from the April 30th total of 191,300,000 shares. Based on an average daily volume of 37,540,000 shares, the short-interest ratio is presently 2.4 days. Currently, 6.3% of the company's stock are short sold.

Institutional Investors Weigh In On Amcor

Several institutional investors have recently made changes to their positions in AMCR. Vanguard Group Inc. raised its holdings in Amcor by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company's stock valued at $555,064,000 after acquiring an additional 1,249,868 shares in the last quarter. Barclays PLC raised its stake in Amcor by 31.8% in the third quarter. Barclays PLC now owns 4,544,118 shares of the company's stock valued at $51,484,000 after purchasing an additional 1,096,664 shares in the last quarter. Van ECK Associates Corp acquired a new position in Amcor in the fourth quarter valued at about $2,605,000. Empowered Funds LLC lifted its position in Amcor by 25.9% during the fourth quarter. Empowered Funds LLC now owns 167,952 shares of the company's stock worth $1,580,000 after purchasing an additional 34,573 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its stake in Amcor by 11,326.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company's stock worth $69,000 after buying an additional 7,249 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Stock Performance

AMCR stock traded up $0.03 during trading hours on Friday, hitting $9.11. 36,452,935 shares of the stock were exchanged, compared to its average volume of 19,075,028. Amcor has a 12 month low of $8.37 and a 12 month high of $11.48. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $13.17 billion, a P/E ratio of 16.56, a P/E/G ratio of 1.96 and a beta of 0.78. The company has a 50-day simple moving average of $9.29 and a two-hundred day simple moving average of $9.69.

Amcor (NYSE:AMCR - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The business had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.51 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. Amcor's revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.13 earnings per share. On average, analysts forecast that Amcor will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd will be given a $0.1275 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.60%. Amcor's payout ratio is 91.07%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AMCR. Raymond James assumed coverage on shares of Amcor in a research note on Tuesday, April 22nd. They issued a "market perform" rating for the company. Truist Financial decreased their price objective on shares of Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Finally, Jefferies Financial Group raised shares of Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Amcor has an average rating of "Moderate Buy" and a consensus target price of $11.31.

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.