Bank of Nova Scotia increased its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 90.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,942 shares of the industrial products company's stock after purchasing an additional 37,428 shares during the quarter. Bank of Nova Scotia owned approximately 0.07% of Crown worth $6,528,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its holdings in shares of Crown by 14.4% in the 4th quarter. Invesco Ltd. now owns 335,672 shares of the industrial products company's stock valued at $27,757,000 after buying an additional 42,182 shares in the last quarter. Federated Hermes Inc. boosted its stake in Crown by 5.4% in the fourth quarter. Federated Hermes Inc. now owns 14,486 shares of the industrial products company's stock valued at $1,198,000 after acquiring an additional 746 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Crown by 5.2% during the fourth quarter. Russell Investments Group Ltd. now owns 577,729 shares of the industrial products company's stock worth $47,772,000 after purchasing an additional 28,444 shares during the last quarter. Aviva PLC grew its holdings in shares of Crown by 568.1% during the fourth quarter. Aviva PLC now owns 79,876 shares of the industrial products company's stock worth $6,605,000 after purchasing an additional 67,921 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. purchased a new stake in shares of Crown in the 4th quarter valued at about $2,894,000. 90.93% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have commented on CCK shares. Mizuho cut their price target on Crown from $110.00 to $100.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 7th. Royal Bank of Canada lifted their target price on shares of Crown from $113.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Bank of America decreased their price target on shares of Crown from $107.00 to $101.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Barclays dropped their price objective on shares of Crown from $112.00 to $109.00 and set an "overweight" rating on the stock in a research note on Monday, February 10th. Finally, StockNews.com upgraded shares of Crown from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $106.00.
Get Our Latest Analysis on Crown
Crown Price Performance
NYSE:CCK traded down $1.21 during trading hours on Tuesday, hitting $84.83. The company's stock had a trading volume of 832,828 shares, compared to its average volume of 1,197,227. The company has a market capitalization of $9.92 billion, a PE ratio of 23.83, a PEG ratio of 1.56 and a beta of 0.79. Crown Holdings, Inc. has a 52-week low of $70.84 and a 52-week high of $98.46. The business's 50-day moving average is $87.55 and its two-hundred day moving average is $88.65. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22.
Crown (NYSE:CCK - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 EPS for the quarter, beating 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%. As a group, research analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.
Crown Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were issued a $0.26 dividend. This is a positive change from Crown's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $1.04 annualized dividend and a yield of 1.23%. Crown's dividend payout ratio is 29.21%.
About Crown
(
Free Report)
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.
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