Amcor plc (NYSE:AMCR) Short Interest Up 6.3% in November

Amcor plc (NYSE:AMCR) was the recipient of a large increase in short interest in November. As of November 15th, there was short interest totalling 22,210,000 shares, an increase of 6.3% from the October 31st total of 20,900,000 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 9,410,000 shares, the days-to-cover ratio is currently 2.4 days.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Robert W. Baird boosted their price objective on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. boosted their price objective on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Citigroup boosted their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company boosted their price objective on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.94.

Amcor Stock Down 0.2 %

NYSE:AMCR opened at $10.55 on Wednesday. Amcor has a fifty-two week low of $8.78 and a fifty-two week high of $11.48. The stock has a market capitalization of $15.24 billion, a P/E ratio of 19.90, a P/E/G ratio of 1.90 and a beta of 0.82. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. The company’s 50-day simple moving average is $10.77 and its 200-day simple moving average is $10.52.

Amcor (NYSE:AMCR) last posted its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The business’s revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.16 EPS. On average, equities analysts anticipate that Amcor will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be issued a $0.1275 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.84%. This is a positive change from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio is currently 96.23%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. M&G Plc lifted its position in shares of Amcor by 2,741.7% during the second quarter. M&G Plc now owns 47,164,358 shares of the company’s stock worth $471,644,000 after purchasing an additional 45,504,608 shares in the last quarter. SteelPeak Wealth LLC purchased a new position in shares of Amcor during the second quarter worth approximately $781,000. Cardinal Capital Management grew its position in Amcor by 832.2% in the 2nd quarter. Cardinal Capital Management now owns 115,616 shares of the company’s stock valued at $1,131,000 after buying an additional 103,213 shares during the last quarter. Natixis Advisors LLC grew its position in Amcor by 24.5% in the 3rd quarter. Natixis Advisors LLC now owns 634,631 shares of the company’s stock valued at $7,190,000 after buying an additional 124,945 shares during the last quarter. Finally, Cerity Partners LLC grew its position in Amcor by 78.7% in the 3rd quarter. Cerity Partners LLC now owns 217,498 shares of the company’s stock valued at $2,464,000 after buying an additional 95,805 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

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.