Strategic Financial Concepts LLC Purchases Shares of 14,223 Crown Holdings, Inc. (NYSE:CCK)

Strategic Financial Concepts LLC purchased a new position in Crown Holdings, Inc. (NYSE:CCK - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 14,223 shares of the industrial products company's stock, valued at approximately $1,176,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Robertson Stephens Wealth Management LLC acquired a new stake in Crown during the 4th quarter worth about $384,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Crown by 20.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company's stock worth $57,000 after buying an additional 117 shares during the period. abrdn plc raised its holdings in Crown by 12.0% during the 4th quarter. abrdn plc now owns 3,750 shares of the industrial products company's stock worth $307,000 after buying an additional 402 shares during the period. Spire Wealth Management raised its holdings in Crown by 16.2% during the 4th quarter. Spire Wealth Management now owns 992 shares of the industrial products company's stock worth $82,000 after buying an additional 138 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. grew its stake in Crown by 0.4% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 45,445 shares of the industrial products company's stock valued at $3,758,000 after acquiring an additional 165 shares in the last quarter. 90.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on CCK. Morgan Stanley raised Crown from an "equal weight" rating to an "overweight" rating and lowered their target price for the company from $109.00 to $105.00 in a research note on Monday, January 13th. Mizuho lowered their target price on Crown from $110.00 to $100.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 7th. Robert W. Baird lifted their target price on Crown from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, October 21st. Citigroup boosted their price target on Crown from $110.00 to $111.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Finally, Loop Capital boosted their price target on Crown from $120.00 to $129.00 and gave the company a "buy" rating in a research note on Monday, October 21st. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $105.69.

Crown Stock Performance

CCK traded down $0.31 on Friday, hitting $88.11. The company had a trading volume of 716,116 shares, compared to its average volume of 1,482,449. The company's fifty day moving average price is $85.21 and its 200 day moving average price is $89.40. Crown Holdings, Inc. has a 1-year low of $70.84 and a 1-year high of $98.46. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.22 and a quick ratio of 0.84. The stock has a market cap of $10.54 billion, a price-to-earnings ratio of 24.75, a price-to-earnings-growth ratio of 1.68 and a beta of 0.87.

Crown (NYSE:CCK - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 EPS for the quarter, topping analysts' consensus estimates of $1.51 by $0.08. Crown had a return on equity of 25.12% and a net margin of 3.59%. Equities analysts predict that Crown Holdings, Inc. will post 6.83 earnings per share for the current fiscal year.

About Crown

Crown Holdings, Inc, together with its subsidiaries, engages in the packaging business in the United States and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The company manufactures and sells recyclable aluminum beverage cans and ends, glass bottles, steel crowns, aluminum caps, non-beverage cans, and aerosol cans and closures.