Chesapeake Capital Corp IL Sells 6,839 Shares of Crown Holdings, Inc. (NYSE:CCK)

Chesapeake Capital Corp IL decreased its stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 58.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,878 shares of the industrial products company's stock after selling 6,839 shares during the period. Chesapeake Capital Corp IL's holdings in Crown were worth $403,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Pacer Advisors Inc. boosted its stake in Crown by 10,138.8% during the fourth quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company's stock valued at $256,762,000 after buying an additional 3,074,791 shares in the last quarter. Metropolis Capital Ltd lifted its holdings in Crown by 68.7% in the 4th quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company's stock valued at $203,116,000 after acquiring an additional 1,000,605 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new position in shares of Crown during the 4th quarter valued at about $66,732,000. Jennison Associates LLC raised its holdings in shares of Crown by 125.0% in the 3rd quarter. Jennison Associates LLC now owns 1,352,711 shares of the industrial products company's stock worth $129,698,000 after purchasing an additional 751,530 shares in the last quarter. Finally, FMR LLC lifted its stake in Crown by 9.3% during the third quarter. FMR LLC now owns 8,787,606 shares of the industrial products company's stock valued at $842,556,000 after purchasing an additional 749,085 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company's stock.

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Analyst Ratings Changes

Several research analysts have issued reports on CCK shares. Barclays dropped their price target on Crown from $112.00 to $109.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. Truist Financial upped their target price on Crown from $103.00 to $104.00 and gave the company a "hold" rating in a report on Monday, January 6th. Mizuho dropped their price target on Crown from $110.00 to $100.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 7th. Royal Bank of Canada upped 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. Finally, Citigroup lifted their target price on shares of Crown from $110.00 to $111.00 and gave the stock a "buy" rating 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $106.00.

Crown Stock Performance

CCK traded down $2.77 on Friday, hitting $87.39. The company had a trading volume of 5,027,471 shares, compared to its average volume of 1,139,892. The stock has a market cap of $10.27 billion, a price-to-earnings ratio of 24.55, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.22 and a quick ratio of 0.80. The company's fifty day moving average price is $87.90 and its 200 day moving average price is $89.51. Crown Holdings, Inc. has a 1-year low of $70.84 and a 1-year high of $98.46.

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 (EPS) 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%. Equities analysts predict that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a boost from Crown's previous quarterly dividend of $0.25. Crown's payout ratio is currently 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.