Traders Buy High Volume of Call Options on Amcor (NYSE:AMCR)

Amcor plc (NYSE:AMCR - Get Free Report) was the recipient of some unusual options trading on Tuesday. Stock investors purchased 18,154 call options on the stock. This represents an increase of approximately 1,034% compared to the typical daily volume of 1,601 call options.

Amcor Trading Up 2.6 %

AMCR traded up $0.24 during trading on Friday, reaching $9.32. The company had a trading volume of 18,103,618 shares, compared to its average volume of 30,876,039. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. Amcor has a 12-month low of $8.37 and a 12-month high of $11.48. The company has a market cap of $13.46 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 1.96 and a beta of 0.78. The firm's 50-day simple moving average is $9.59 and its 200 day simple moving average is $9.92.

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

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd will be given a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.48%. The ex-dividend date is Thursday, May 22nd. Amcor's payout ratio is 92.73%.

Insider Activity at Amcor

In other Amcor news, Director Achal Agarwal acquired 10,000 shares of the business's stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the transaction, the director now owns 88,967 shares of the company's stock, valued at $898,566.70. The trade was a 12.66 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Rakuten Securities Inc. increased its position in Amcor by 18,725.0% in the 1st quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock worth $29,000 after buying an additional 2,996 shares during the period. HM Payson & Co. bought a new position in Amcor during the first quarter worth $30,000. CVA Family Office LLC raised its stake in Amcor by 234.1% during the 1st quarter. CVA Family Office LLC now owns 3,254 shares of the company's stock valued at $32,000 after purchasing an additional 2,280 shares during the last quarter. Quarry LP boosted its holdings in Amcor by 2,064.5% in the 4th quarter. Quarry LP now owns 3,723 shares of the company's stock valued at $35,000 after purchasing an additional 3,551 shares during the period. Finally, Jones Financial Companies Lllp boosted its holdings in Amcor by 247.4% in the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock valued at $35,000 after purchasing an additional 2,660 shares during the period. Institutional investors and hedge funds own 45.14% of the company's stock.

Wall Street Analyst Weigh In

AMCR has been the subject of several analyst reports. Raymond James initiated coverage on shares of Amcor in a research note on Tuesday, April 22nd. They issued a "market perform" rating for the company. Truist Financial reduced their price objective on shares of Amcor from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Jefferies Financial Group raised shares of Amcor from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Finally, Citigroup upgraded Amcor from a "neutral" rating to a "buy" rating and boosted their price target for the company from $11.00 to $12.00 in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus 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.