Cannell & Spears LLC Has $22.94 Million Position in Crown Holdings, Inc. (NYSE:CCK)

Cannell & Spears LLC trimmed its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 16.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 277,475 shares of the industrial products company's stock after selling 56,041 shares during the period. Cannell & Spears LLC owned about 0.23% of Crown worth $22,944,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CCK. Farther Finance Advisors LLC boosted its stake in shares of Crown by 160.0% during the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 256 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Crown by 84.2% in the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company's stock valued at $47,000 after buying an additional 261 shares during the last quarter. True Wealth Design LLC lifted its stake in shares of Crown by 6,850.0% during the third quarter. True Wealth Design LLC now owns 695 shares of the industrial products company's stock valued at $67,000 after buying an additional 685 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Crown by 20.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company's stock worth $57,000 after acquiring an additional 117 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Crown in the 3rd quarter worth approximately $71,000. 90.93% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several research firms recently commented on CCK. Wells Fargo & Company upped their target price on Crown from $86.00 to $90.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Truist Financial raised their price objective on Crown from $103.00 to $104.00 and gave the stock a "hold" rating in a report on Monday, January 6th. UBS Group dropped their target price on Crown from $113.00 to $108.00 and set a "buy" rating on the stock in a report on Friday, January 10th. StockNews.com upgraded Crown from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Finally, Bank of America reduced their price target on shares of Crown from $107.00 to $101.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $106.00.

Crown Price Performance

CCK stock traded down $3.86 on Friday, hitting $84.86. 614,606 shares of the company's stock traded hands, compared to its average volume of 1,372,064. Crown Holdings, Inc. has a 1-year low of $70.84 and a 1-year high of $98.46. The stock has a fifty day moving average of $88.53 and a 200-day moving average of $89.43. The stock has a market cap of $9.93 billion, a price-to-earnings ratio of 23.80, a P/E/G ratio of 1.56 and a beta of 0.88. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88.

Crown (NYSE:CCK - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.08. Crown had a net margin of 3.59% and a return on equity of 25.12%. On average, analysts forecast that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were given a $0.26 dividend. This is an increase from Crown's previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, March 18th. This represents a $1.04 dividend on an annualized basis and a yield of 1.23%. Crown's dividend payout ratio is presently 29.21%.

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.