Fidelity National Financial Inc. Acquires Shares of 1,776,000 Amcor PLC $AMCR

Fidelity National Financial Inc. purchased a new stake in Amcor PLC (NYSE:AMCR) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 1,776,000 shares of the company’s stock, valued at approximately $14,812,000. Amcor comprises 0.4% of Fidelity National Financial Inc.’s portfolio, making the stock its 15th biggest position. Fidelity National Financial Inc. owned approximately 0.38% of Amcor as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in AMCR. Brown Lisle Cummings Inc. increased its holdings in shares of Amcor by 137.9% in the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after acquiring an additional 2,000 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of Amcor by 46.1% in the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after acquiring an additional 1,257 shares during the last quarter. N.E.W. Advisory Services LLC increased its holdings in shares of Amcor by 10.1% in the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after acquiring an additional 373 shares during the last quarter. CYBER HORNET ETFs LLC bought a new position in Amcor in the second quarter worth about $36,000. Finally, Huntington National Bank lifted its holdings in Amcor by 81.8% in the third quarter. Huntington National Bank now owns 4,490 shares of the company’s stock worth $37,000 after acquiring an additional 2,020 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Trading Down 1.5%

Amcor stock opened at $38.27 on Thursday. The firm has a 50 day simple moving average of $39.30 and a 200-day simple moving average of $42.04. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. The stock has a market capitalization 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. Amcor PLC has a 12-month low of $36.25 and a 12-month high of $50.94.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.96. The business had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The business’s revenue was up 77.4% on a year-over-year basis. During the same period last year, the firm posted $0.90 earnings per share. As a group, equities research analysts expect that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Citigroup cut their target price on shares of Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Amcor in a report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 target price on the stock. Wells Fargo & Company set a $41.00 target price on shares of Amcor and gave the stock an “equal weight” rating in a report on Wednesday, May 20th. JPMorgan Chase & Co. cut their target price on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Finally, Truist Financial reissued a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $49.33.

Amcor 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.