LPL Financial LLC Has $1.98 Million Holdings in Crown Holdings, Inc. (NYSE:CCK)

LPL Financial LLC cut its stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 15.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,881 shares of the industrial products company's stock after selling 4,268 shares during the quarter. LPL Financial LLC's holdings in Crown were worth $1,975,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its stake in shares of Crown by 1.8% in the 4th quarter. Victory Capital Management Inc. now owns 5,779,691 shares of the industrial products company's stock valued at $477,923,000 after purchasing an additional 102,789 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Crown by 10,138.8% during the 4th quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company's stock valued at $256,762,000 after acquiring an additional 3,074,791 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Crown by 10.5% in the 4th quarter. Bank of New York Mellon Corp now owns 2,967,810 shares of the industrial products company's stock valued at $245,408,000 after acquiring an additional 283,014 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 worth $203,116,000 after purchasing an additional 1,000,605 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in Crown by 19.3% during the fourth quarter. Nordea Investment Management AB now owns 1,095,382 shares of the industrial products company's stock worth $90,511,000 after purchasing an additional 176,959 shares during the period. Institutional investors and hedge funds own 90.93% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Barclays decreased their price objective on shares of Crown from $112.00 to $109.00 and set an "overweight" rating for the company in a report on Monday, February 10th. Bank of America lowered their price target on Crown from $107.00 to $101.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Truist Financial boosted their price objective on Crown from $103.00 to $104.00 and gave the stock a "hold" rating in a research report on Monday, January 6th. Citigroup lifted their price target on Crown from $110.00 to $111.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Finally, Mizuho reduced their price objective on Crown from $110.00 to $100.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Crown currently has a consensus rating of "Moderate Buy" and an average target price of $106.00.

Crown Price Performance

NYSE CCK traded up $0.93 on Friday, reaching $85.12. The company's stock had a trading volume of 972,730 shares, compared to its average volume of 1,198,888. 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. The firm has a market cap of $9.96 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 1.56 and a beta of 0.79. The business has a 50-day moving average price of $87.38 and a 200 day moving average price of $88.52.

Crown (NYSE:CCK - Get Free Report) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 EPS for the quarter, topping 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%. Sell-side analysts expect that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were issued 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 of this dividend was Tuesday, March 18th. This represents a $1.04 annualized dividend and a dividend yield of 1.22%. Crown's dividend payout ratio (DPR) is presently 29.21%.

Crown Company 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.