Aviva PLC Raises Position in Crown Holdings, Inc. (NYSE:CCK)

Aviva PLC boosted its holdings in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 568.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 79,876 shares of the industrial products company's stock after acquiring an additional 67,921 shares during the quarter. Aviva PLC owned 0.07% of Crown worth $6,605,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in shares of Crown by 1.8% during the fourth quarter. Victory Capital Management Inc. now owns 5,779,691 shares of the industrial products company's stock valued at $477,923,000 after buying an additional 102,789 shares during the last quarter. State Street Corp boosted its holdings in Crown by 1.8% during the 3rd quarter. State Street Corp now owns 4,000,402 shares of the industrial products company's stock worth $383,559,000 after acquiring an additional 69,260 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Crown by 10,138.8% in the 4th quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company's stock worth $256,762,000 after acquiring an additional 3,074,791 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Crown by 10.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,967,810 shares of the industrial products company's stock valued at $245,408,000 after purchasing an additional 283,014 shares during the last quarter. Finally, Metropolis Capital Ltd lifted its position in shares of Crown by 68.7% during the fourth quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company's stock valued at $203,116,000 after purchasing an additional 1,000,605 shares in the last quarter. Institutional investors and hedge funds own 90.93% of the company's stock.

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Crown Stock Performance

Shares of CCK stock traded up $1.31 during trading on Monday, reaching $85.15. 138,793 shares of the company's stock traded hands, compared to its average volume of 1,196,141. Crown Holdings, Inc. has a 1 year low of $70.84 and a 1 year high of $98.46. The company has a market capitalization of $9.96 billion, a P/E ratio of 23.92, a PEG ratio of 1.56 and a beta of 0.79. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88. The firm's 50-day moving average is $87.53 and its 200 day moving average is $88.71.

Crown (NYSE:CCK - Get Free Report) last posted 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 research analysts expect that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.22%. This is an increase from Crown's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, March 18th. Crown's dividend payout ratio is presently 29.21%.

Analysts Set New Price Targets

Several equities research analysts have commented on CCK shares. Royal Bank of Canada increased their price objective on shares of Crown from $113.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. StockNews.com upgraded Crown from a "hold" rating to a "buy" rating in a report on Friday, February 7th. UBS Group decreased their target price on Crown from $113.00 to $108.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Morgan Stanley raised shares of Crown from an "equal weight" rating to an "overweight" rating and cut their price target for the stock from $109.00 to $105.00 in a report on Monday, January 13th. Finally, Citigroup increased their price target on shares of Crown from $110.00 to $111.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $106.00.

Crown Profile

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.