Raymond James Financial Inc. Acquires Shares of 102,380 Crown Holdings, Inc. (NYSE:CCK)

Raymond James Financial Inc. bought a new position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 102,380 shares of the industrial products company's stock, valued at approximately $8,466,000. Raymond James Financial Inc. owned 0.09% of Crown as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tidal Investments LLC boosted its holdings in shares of Crown by 121.3% during the 3rd quarter. Tidal Investments LLC now owns 21,997 shares of the industrial products company's stock worth $2,109,000 after buying an additional 12,058 shares during the period. Nordea Investment Management AB boosted its holdings in Crown by 19.3% during the fourth quarter. Nordea Investment Management AB now owns 1,095,382 shares of the industrial products company's stock valued at $90,511,000 after acquiring an additional 176,959 shares during the period. Metropolis Capital Ltd boosted its holdings 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 acquiring an additional 1,000,605 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Crown by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 812,474 shares of the industrial products company's stock valued at $67,183,000 after purchasing an additional 8,739 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Crown in the third quarter worth about $861,000. Institutional investors and hedge funds own 90.93% of the company's stock.

Remove Ads

Crown Price Performance

NYSE CCK traded up $2.03 during trading on Wednesday, reaching $89.18. 954,111 shares of the company traded hands, compared to its average volume of 1,139,812. Crown Holdings, Inc. has a 1-year low of $70.84 and a 1-year high of $98.46. 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 stock's 50 day moving average price is $88.08 and its two-hundred day moving average price is $89.47. The company has a market cap of $10.48 billion, a price-to-earnings ratio of 25.05, a P/E/G ratio of 1.56 and a beta of 0.88.

Crown (NYSE:CCK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 EPS 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%. As a group, analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be issued a dividend of $0.26 per share. This is an increase from Crown's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 1.17%. The ex-dividend date is Tuesday, March 18th. Crown's dividend payout ratio (DPR) is currently 29.21%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Barclays decreased their target price on Crown from $112.00 to $109.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Mizuho dropped their target price on shares of Crown from $110.00 to $100.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 7th. UBS Group cut their target price on shares of Crown from $113.00 to $108.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Bank of America decreased their price target on shares of Crown from $107.00 to $101.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Finally, Truist Financial upped their price objective on shares of Crown from $103.00 to $104.00 and gave the company a "hold" rating in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Crown presently has a consensus rating of "Moderate Buy" and an average price target 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.