J. Safra Sarasin Holding AG Takes Position in Crown Holdings, Inc. (NYSE:CCK)

J. Safra Sarasin Holding AG bought a new position in Crown Holdings, Inc. (NYSE:CCK - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,000 shares of the industrial products company's stock, valued at approximately $413,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CCK. Victory Capital Management Inc. raised its holdings 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 worth $477,923,000 after purchasing an additional 102,789 shares during the period. Pacer Advisors Inc. increased its position 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 worth $256,762,000 after purchasing an additional 3,074,791 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in 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 valued at $245,408,000 after buying an additional 283,014 shares during the period. Metropolis Capital Ltd lifted its position in Crown by 68.7% during the fourth quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company's stock valued at $203,116,000 after buying an additional 1,000,605 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Crown by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,553,632 shares of the industrial products company's stock worth $128,464,000 after buying an additional 12,784 shares during the period. Institutional investors and hedge funds own 90.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CCK. Truist Financial cut their target price on shares of Crown from $107.00 to $97.00 and set a "hold" rating on the stock in a research note on Tuesday. Royal Bank of Canada raised their price objective on Crown from $113.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. UBS Group decreased their target price on Crown from $113.00 to $108.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Citigroup raised their target price on Crown from $110.00 to $111.00 and gave the company a "buy" rating in a report on Monday, January 6th. Finally, Morgan Stanley raised Crown from an "equal weight" rating to an "overweight" rating and reduced their price target for the stock from $109.00 to $105.00 in a research report on Monday, January 13th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Crown currently has an average rating of "Moderate Buy" and an average price target of $105.42.

Crown Stock Performance

Crown stock opened at $86.82 on Thursday. 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 stock has a market cap of $10.15 billion, a P/E ratio of 24.39, a price-to-earnings-growth ratio of 1.56 and a beta of 0.79. The stock has a 50 day moving average of $87.19 and a 200-day moving average of $88.29.

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

Crown Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.20%. This is an increase from Crown's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, March 18th. Crown's dividend payout ratio (DPR) 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.

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