Clearbridge Investments LLC reduced its position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 12.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,421,951 shares of the industrial products company's stock after selling 200,328 shares during the period. Clearbridge Investments LLC owned about 1.19% of Crown worth $117,581,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Victory Capital Management Inc. boosted its stake in shares of Crown by 1.8% during the 4th quarter. Victory Capital Management Inc. now owns 5,779,691 shares of the industrial products company's stock worth $477,923,000 after buying an additional 102,789 shares during the last quarter. State Street Corp grew its stake in shares of Crown by 1.8% in the third quarter. State Street Corp now owns 4,000,402 shares of the industrial products company's stock valued at $383,559,000 after buying an additional 69,260 shares in the last quarter. Pacer Advisors Inc. increased its holdings 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 worth $256,762,000 after buying an additional 3,074,791 shares during the last quarter. Bank of New York Mellon Corp raised its position in Crown by 10.5% during the fourth quarter. Bank of New York Mellon Corp now owns 2,967,810 shares of the industrial products company's stock worth $245,408,000 after acquiring an additional 283,014 shares in the last quarter. Finally, Metropolis Capital Ltd grew its position in shares of 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 period. 90.93% of the stock is currently owned by institutional investors.
Crown Price Performance
Crown stock traded down $5.62 during mid-day trading on Friday, reaching $83.10. 2,029,641 shares of the company were exchanged, compared to its average volume of 1,188,643. The firm has a market cap of $9.72 billion, a PE ratio of 23.34, a PEG 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 has a fifty day simple moving average of $88.44 and a 200-day simple moving average of $89.37. Crown Holdings, Inc. has a 12 month low of $70.84 and a 12 month high of $98.46.
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%. As a group, equities research analysts expect that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.
Crown Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were given a dividend of $0.26 per share. This is a positive change from Crown's previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, March 18th. This represents a $1.04 annualized dividend and a dividend yield of 1.25%. Crown's dividend payout ratio (DPR) is currently 29.21%.
Analysts Set New Price Targets
A number of brokerages have weighed in on CCK. Mizuho lowered 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. Wells Fargo & Company upped their price objective on shares of Crown from $86.00 to $90.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. Bank of America cut their target price 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. Morgan Stanley upgraded shares of Crown from an "equal weight" rating to an "overweight" rating and decreased their price target for the company from $109.00 to $105.00 in a research note on Monday, January 13th. Finally, UBS Group cut their price objective on shares of Crown from $113.00 to $108.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Crown currently has an average rating of "Moderate Buy" and a consensus target price of $106.00.
Check Out Our Latest Stock Analysis on Crown
Crown Profile
(
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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