PNC Financial Services Group Inc. Reduces Stake in Crown Holdings, Inc. (NYSE:CCK)

PNC Financial Services Group Inc. cut its stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 11.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,473 shares of the industrial products company's stock after selling 3,131 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Crown were worth $1,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Tidal Investments LLC boosted its holdings in Crown by 121.3% during the 3rd quarter. Tidal Investments LLC now owns 21,997 shares of the industrial products company's stock valued at $2,109,000 after acquiring an additional 12,058 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Crown by 4.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 249,041 shares of the industrial products company's stock worth $23,878,000 after buying an additional 10,295 shares during the period. Nordea Investment Management AB lifted its holdings in Crown by 19.3% in the 4th quarter. Nordea Investment Management AB now owns 1,095,382 shares of the industrial products company's stock worth $90,511,000 after buying an additional 176,959 shares during the period. Natixis Advisors LLC lifted its holdings in Crown by 10.4% in the 3rd quarter. Natixis Advisors LLC now owns 171,080 shares of the industrial products company's stock worth $16,403,000 after buying an additional 16,050 shares during the period. Finally, Metropolis Capital Ltd lifted its holdings in Crown by 68.7% in 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. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several research firms have weighed in on CCK. Citigroup increased their price objective on Crown from $110.00 to $111.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Mizuho dropped their price objective on Crown from $110.00 to $100.00 and set an "outperform" rating for the company in a report on Tuesday, January 7th. Barclays decreased their target price on Crown from $112.00 to $109.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. 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. Finally, Wells Fargo & Company increased their target price on Crown from $86.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $106.00.

Crown Stock Up 0.6 %

Shares of Crown stock traded up $0.55 on Tuesday, reaching $90.46. The company's stock had a trading volume of 859,411 shares, compared to its average volume of 1,132,401. The company has a market capitalization of $10.63 billion, a price-to-earnings ratio of 25.41, a P/E/G ratio of 1.56 and a beta of 0.88. The firm's fifty day simple moving average is $86.91 and its two-hundred day simple moving average is $89.53. Crown Holdings, Inc. has a 52 week low of $70.84 and a 52 week high of $98.46. 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 (NYSE:CCK - Get Free Report) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 EPS for the quarter, topping analysts' consensus estimates of $1.51 by $0.08. Crown had a return on equity of 25.12% and a net margin of 3.59%. Equities analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be paid a $0.26 dividend. This is an increase from Crown's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Tuesday, March 18th. Crown's dividend payout ratio (DPR) is 29.21%.

Crown Company 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.