Crown Holdings, Inc. (NYSE:CCK) Holdings Trimmed by Franklin Resources Inc.

Franklin Resources Inc. lessened its stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 16.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 790,608 shares of the industrial products company's stock after selling 150,425 shares during the period. Franklin Resources Inc. owned 0.66% of Crown worth $65,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. raised its holdings in shares of Crown by 1.8% in the fourth quarter. Victory Capital Management Inc. now owns 5,779,691 shares of the industrial products company's stock valued at $477,923,000 after buying an additional 102,789 shares during the last quarter. State Street Corp increased its position in Crown by 1.8% in the 3rd quarter. State Street Corp now owns 4,000,402 shares of the industrial products company's stock valued at $383,559,000 after acquiring an additional 69,260 shares during the period. Pacer Advisors Inc. raised its stake in 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 lifted its position in Crown by 10.5% during the 4th 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 during the period. Finally, Metropolis Capital Ltd grew its stake 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 purchasing an additional 1,000,605 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company's stock.

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Crown Stock Performance

Shares of CCK traded up $0.58 during mid-day trading on Tuesday, reaching $81.60. 393,941 shares of the company's stock traded hands, compared to its average volume of 1,190,536. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22. The business's 50-day moving average price is $88.27 and its 200-day moving average price is $89.23. The stock has a market capitalization of $9.54 billion, a P/E ratio of 22.92, a price-to-earnings-growth ratio of 1.56 and a beta of 0.79. 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 announced its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.51 by $0.08. Crown had a net margin of 3.59% and a return on equity of 25.12%. Equities analysts predict that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Increases Dividend

The firm 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. The ex-dividend date of this dividend was Tuesday, March 18th. This is a positive change from Crown's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 1.27%. Crown's dividend payout ratio is currently 29.21%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CCK shares. Truist Financial boosted their target price on Crown from $103.00 to $104.00 and gave the stock a "hold" rating in a research report on Monday, January 6th. Mizuho cut 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. Wells Fargo & Company boosted their target price on shares of Crown from $86.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. StockNews.com upgraded shares of Crown from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Finally, Bank of America decreased their price objective on shares of Crown from $107.00 to $101.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, Crown presently has an average rating of "Moderate Buy" and a consensus target price of $106.00.

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.