Legal & General Group Plc cut its position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 39.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 328,526 shares of the industrial products company's stock after selling 214,025 shares during the quarter. Legal & General Group Plc owned about 0.27% of Crown worth $27,166,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in shares of Crown by 160.0% during the 4th quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock valued at $34,000 after buying an additional 256 shares in the last quarter. GAMMA Investing LLC lifted its position in Crown by 84.2% during the 4th quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company's stock valued at $47,000 after acquiring an additional 261 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake 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 in the last quarter. Venturi Wealth Management LLC boosted its stake in Crown by 48.6% during the fourth quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company's stock worth $68,000 after acquiring an additional 269 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in Crown by 325.1% in the fourth quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company's stock worth $70,000 after purchasing an additional 647 shares during the period. 90.93% of the stock is owned by hedge funds and other institutional investors.
Crown Stock Performance
CCK stock traded up $0.93 during trading on Friday, reaching $85.12. The stock had a trading volume of 972,730 shares, compared to its average volume of 1,196,474. The stock's 50 day moving average is $87.38 and its two-hundred day moving average is $88.52. The firm has a market cap of $9.96 billion, a PE ratio of 23.91, 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 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 released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.
Crown Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were paid a dividend of $0.26 per share. This is a boost 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 dividend yield of 1.22%. Crown's payout ratio is 29.21%.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the company. Wells Fargo & Company boosted their price target on Crown from $86.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Bank of America dropped their target price on Crown from $107.00 to $101.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Morgan Stanley upgraded Crown from an "equal weight" rating to an "overweight" rating and reduced their price target for the company from $109.00 to $105.00 in a report on Monday, January 13th. UBS Group dropped their price target on shares of Crown from $113.00 to $108.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Finally, Citigroup increased their price objective 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 research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $106.00.
Get Our Latest Stock Report on Crown
Crown Company 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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