Fidelity National Financial Inc. Makes New Investment in Amcor PLC $AMCR

Fidelity National Financial Inc. purchased a new position in Amcor PLC (NYSE:AMCR) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,776,000 shares of the company’s stock, valued at approximately $14,812,000. Amcor makes up 0.4% of Fidelity National Financial Inc.’s portfolio, making the stock its 15th biggest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brown Lisle Cummings Inc. raised 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 in the last quarter. Larson Financial Group LLC boosted its stake in shares of Amcor by 46.1% during the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock worth $33,000 after acquiring an additional 1,257 shares in the last quarter. N.E.W. Advisory Services LLC boosted its stake in shares of Amcor by 10.1% during the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock worth $34,000 after acquiring an additional 373 shares in the last quarter. CYBER HORNET ETFs LLC bought a new stake in shares of Amcor during the 2nd quarter worth $36,000. Finally, Huntington National Bank boosted its stake in shares of Amcor by 81.8% during the 3rd quarter. Huntington National Bank now owns 4,490 shares of the company’s stock worth $37,000 after acquiring an additional 2,020 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Stock Performance

Shares of Amcor stock opened at $38.27 on Thursday. The stock has a market cap of $17.69 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 1.17 and a beta of 0.64. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. The business has a fifty day simple moving average of $39.30 and a 200-day simple moving average of $42.04. Amcor PLC has a 12 month low of $36.25 and a 12 month high of $50.94.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, meeting the consensus estimate of $0.96. The firm had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.71 billion. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The company’s revenue for the quarter was up 77.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 EPS. On average, sell-side analysts anticipate that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 6.8%. The ex-dividend date is Thursday, May 28th. Amcor’s payout ratio is currently 181.82%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Wells Fargo & Company set a $41.00 price objective on Amcor and gave the stock an “equal weight” rating in a research note on Wednesday, May 20th. Truist Financial reissued a “buy” rating and set a $51.00 price objective (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Amcor in a research note on Wednesday, April 1st. They set a “buy” rating and a $50.00 price objective for the company. Finally, Citigroup reduced their price objective on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Amcor presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.33.

About Amcor

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.