Generali Asset Management SPA SGR Buys Shares of 40,970 Crown Holdings, Inc. (NYSE:CCK)

Generali Asset Management SPA SGR purchased a new position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 40,970 shares of the industrial products company's stock, valued at approximately $3,388,000.

Several other institutional investors have also modified their holdings of CCK. Farther Finance Advisors LLC lifted its stake in Crown by 160.0% in the fourth 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. Brooklyn Investment Group bought a new position in Crown during the 3rd quarter worth about $44,000. GAMMA Investing LLC lifted its holdings in shares of Crown by 84.2% in the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company's stock valued at $47,000 after purchasing an additional 261 shares in the last quarter. True Wealth Design LLC grew its holdings in shares of Crown by 6,850.0% during the third quarter. True Wealth Design LLC now owns 695 shares of the industrial products company's stock worth $67,000 after buying an additional 685 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Crown by 20.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company's stock valued at $57,000 after buying an additional 117 shares during the last quarter. Institutional investors own 90.93% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Barclays decreased their price target on shares of Crown from $112.00 to $109.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Wells Fargo & Company lifted their price target on shares of Crown from $86.00 to $90.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Truist Financial raised their price objective on Crown from $103.00 to $104.00 and gave the company a "hold" rating in a report on Monday, January 6th. Citigroup increased their price target on Crown from $110.00 to $111.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Finally, UBS Group lowered their target price on shares of Crown from $113.00 to $108.00 and set a "buy" rating on the stock in a report on Friday, January 10th. 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 data from MarketBeat.com, Crown currently has an average rating of "Moderate Buy" and a consensus price target of $106.00.

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Crown Stock Performance

Shares of CCK traded up $0.79 during midday trading on Monday, reaching $88.49. 1,073,823 shares of the stock were exchanged, compared to its average volume of 1,139,628. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. The stock's 50 day simple moving average is $87.90 and its 200 day simple moving average is $89.51. Crown Holdings, Inc. has a twelve month low of $70.84 and a twelve month high of $98.46. The company has a market cap of $10.40 billion, a P/E ratio of 24.86, a PEG ratio of 1.56 and a beta of 0.88.

Crown (NYSE:CCK - Get Free Report) last posted its quarterly earnings data 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%. On average, sell-side analysts expect that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Tuesday, March 18th. This is a positive change from Crown's previous quarterly dividend of $0.25. Crown's dividend payout ratio (DPR) is 29.21%.

About Crown

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.