Alliancebernstein L.P. Buys 3,563 Shares of Crown Holdings, Inc. (NYSE:CCK)

Alliancebernstein L.P. raised its stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 163,674 shares of the industrial products company's stock after buying an additional 3,563 shares during the period. Alliancebernstein L.P. owned about 0.14% of Crown worth $13,534,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings 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. raised its position in shares of Crown by 10,138.8% in 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 purchasing an additional 3,074,791 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Crown by 10.5% in 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 buying an additional 283,014 shares during the last quarter. Metropolis Capital Ltd boosted its holdings in shares of Crown by 68.7% during the 4th quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company's stock worth $203,116,000 after buying an additional 1,000,605 shares during the period. Finally, Geode Capital Management LLC lifted its position in Crown by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,061,869 shares of the industrial products company's stock worth $197,242,000 after acquiring an additional 82,764 shares during the last quarter. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several equities analysts have commented on the company. UBS Group cut their price target on Crown from $113.00 to $108.00 and set a "buy" rating for the company in a report on Friday, January 10th. StockNews.com upgraded shares of Crown from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Truist Financial increased their price objective on shares of Crown from $103.00 to $104.00 and gave the company a "hold" rating in a research note on Monday, January 6th. 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 research report on Friday, February 7th. Finally, Bank of America lowered their target price on shares of Crown from $107.00 to $101.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Two investment 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 a consensus rating of "Moderate Buy" and an average target price of $106.00.

Crown Price Performance

Shares of CCK traded down $0.47 during trading hours on Tuesday, hitting $85.57. 133,689 shares of the company were exchanged, compared to its average volume of 1,194,579. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. Crown Holdings, Inc. has a fifty-two week low of $70.84 and a fifty-two week high of $98.46. The company has a market cap of $10.01 billion, a price-to-earnings ratio of 24.06, a P/E/G ratio of 1.56 and a beta of 0.79. The firm's fifty day moving average is $87.55 and its 200 day moving average is $88.65.

Crown (NYSE:CCK - Get Free Report) last issued 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%. On average, equities analysts anticipate 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. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.26 per share. This is a boost from Crown's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Tuesday, March 18th. Crown's payout ratio is 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.