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

Amcor PLC (NYSE:AMCR) saw a large decrease in short interest during the month of 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. Approximately 5.6% of the company’s shares are short sold. Based on an average daily volume of 3,949,334 shares, the short-interest ratio is presently 6.5 days. Based on an average daily volume of 3,949,334 shares, the short-interest ratio is presently 6.5 days. Approximately 5.6% of the company’s shares are short sold.

Amcor Stock Performance

Shares of AMCR traded down $0.54 during mid-day trading on Wednesday, reaching $44.19. The company had a trading volume of 5,408,493 shares, compared to its average volume of 4,978,067. The company has a quick ratio of 0.62, a current ratio of 1.04 and a debt-to-equity ratio of 1.09. Amcor has a 52-week low of $38.33 and a 52-week high of $52.25. The stock has a 50 day moving average of $42.23 and a two-hundred day moving average of $42.71. The stock has a market capitalization of $20.37 billion, a P/E ratio of 12.25, a PEG ratio of 1.04 and a beta of 0.68.

Amcor (NYSE:AMCR) last posted its earnings results on Wednesday, November 5th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.01. The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.77 billion. Amcor had a net margin of 3.34% and a return on equity of 17.35%. The business’s quarterly revenue was up 71.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.80 EPS. On average, analysts expect that Amcor will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Friday, November 28th were given a dividend of $0.65 per share. This is an increase from Amcor’s previous quarterly dividend of $0.13. This represents a $2.60 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date was Friday, November 28th. Amcor’s dividend payout ratio (DPR) is currently 152.94%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AMCR shares. Wells Fargo & Company boosted their price objective on Amcor from $9.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Stifel Nicolaus upgraded shares of Amcor from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Friday, October 10th. Robert W. Baird raised Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 7th. Morgan Stanley lowered shares of Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price objective for the company. in a research note on Wednesday. Finally, Truist Financial upped their target price on Amcor from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $52.14.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. NewSquare Capital LLC raised its stake in Amcor by 377.9% in the 2nd quarter. NewSquare Capital LLC now owns 2,810 shares of the company’s stock valued at $26,000 after purchasing an additional 2,222 shares during the last quarter. Quent Capital LLC purchased a new stake in shares of Amcor in the 3rd quarter valued at approximately $27,000. Brown Lisle Cummings Inc. grew its position in Amcor by 137.9% in the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock worth $29,000 after acquiring an additional 2,000 shares during the period. Bartlett & CO. Wealth Management LLC purchased a new position in shares of Amcor during the 2nd quarter worth $33,000. Finally, DecisionPoint Financial LLC purchased a new position in Amcor during the second quarter worth about $34,000. Institutional investors and hedge funds 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.