Amcor plc (NYSE:AMCR) Short Interest Down 46.4% in May

Amcor plc (NYSE:AMCR - Get Free Report) was the target of a large decline in short interest in May. As of May 31st, there was short interest totalling 48,180,000 shares, a decline of 46.4% from the May 15th total of 89,930,000 shares. Approximately 3.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 37,130,000 shares, the short-interest ratio is presently 1.3 days.

Amcor Trading Down 1.7%

AMCR traded down $0.16 during trading on Friday, hitting $9.09. 21,495,655 shares of the stock traded hands, compared to its average volume of 19,693,240. The firm has a market capitalization of $13.13 billion, a P/E ratio of 16.52, a price-to-earnings-growth ratio of 1.96 and a beta of 0.73. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. The firm has a 50-day moving average of $9.22 and a 200 day moving average of $9.61. Amcor has a 12-month low of $8.37 and a 12-month high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same period in the prior year, the business earned $0.13 EPS. The company's revenue for the quarter was down 2.3% on a year-over-year basis. Equities research analysts anticipate that Amcor will post 0.74 EPS for the current year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd were issued a $0.1275 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $0.51 annualized dividend and a yield of 5.61%. Amcor's dividend payout ratio (DPR) is presently 91.07%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. increased its stake in shares of Amcor by 20.0% in the 1st quarter. UMB Bank n.a. now owns 6,386 shares of the company's stock worth $62,000 after acquiring an additional 1,066 shares in the last quarter. AlphaStar Capital Management LLC increased its stake in shares of Amcor by 2.4% in the 1st quarter. AlphaStar Capital Management LLC now owns 50,472 shares of the company's stock worth $490,000 after acquiring an additional 1,185 shares in the last quarter. Koshinski Asset Management Inc. increased its stake in shares of Amcor by 10.1% in the 1st quarter. Koshinski Asset Management Inc. now owns 13,659 shares of the company's stock worth $132,000 after acquiring an additional 1,252 shares in the last quarter. Virtue Capital Management LLC increased its stake in shares of Amcor by 2.8% in the 4th quarter. Virtue Capital Management LLC now owns 45,924 shares of the company's stock worth $432,000 after acquiring an additional 1,259 shares in the last quarter. Finally, Utah Retirement Systems increased its stake in shares of Amcor by 1.1% in the 4th quarter. Utah Retirement Systems now owns 120,076 shares of the company's stock worth $1,130,000 after acquiring an additional 1,300 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AMCR shares. Truist Financial cut their price target on shares of Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. 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. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $11.31.

About Amcor

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.

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