Allspring Global Investments Holdings LLC Has $23.22 Million Stake in Crown Holdings, Inc. (NYSE:CCK)

Allspring Global Investments Holdings LLC grew its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 28.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 285,980 shares of the industrial products company's stock after acquiring an additional 63,458 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.24% of Crown worth $23,224,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Empowered Funds LLC bought a new position in shares of Crown in the fourth quarter valued at approximately $7,215,000. Kingsview Wealth Management LLC bought a new position in Crown during the 4th quarter valued at $2,024,000. Iridian Asset Management LLC CT increased its position in shares of Crown by 13.5% during the 4th quarter. Iridian Asset Management LLC CT now owns 222,292 shares of the industrial products company's stock valued at $18,381,000 after purchasing an additional 26,443 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Crown by 45.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,161 shares of the industrial products company's stock worth $2,577,000 after buying an additional 9,717 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Crown in the fourth quarter valued at $1,176,000. 90.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CCK shares. Royal Bank of Canada boosted their price target on shares of Crown from $113.00 to $115.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Truist Financial boosted their target price on shares of Crown from $103.00 to $104.00 and gave the stock a "hold" rating in a report on Monday, January 6th. StockNews.com upgraded shares of Crown from a "hold" rating to a "buy" rating in a report on Friday, February 7th. UBS Group dropped their price target on Crown from $113.00 to $108.00 and set a "buy" rating on the stock in a report on Friday, January 10th. 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 note on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Crown has an average rating of "Moderate Buy" and an average price target of $105.69.

Crown Stock Down 1.0 %

NYSE:CCK traded down $0.85 during trading hours on Wednesday, hitting $88.43. 455,766 shares of the company's stock traded hands, compared to its average volume of 1,335,655. The stock's fifty day moving average price is $85.21 and its two-hundred day moving average price is $89.41. The firm has a market cap of $10.58 billion, a P/E ratio of 24.84, a P/E/G ratio of 1.55 and a beta of 0.87. 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 Holdings, Inc. has a twelve month low of $70.84 and a twelve month high of $98.46.

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

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.