Raymond James Financial Inc. Purchases New Shares in Crown Holdings, Inc. (NYSE:CCK)

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

Other hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. increased 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 buying an additional 102,789 shares during the last quarter. Pacer Advisors Inc. increased its stake in Crown by 10,138.8% in the fourth 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 raised its position in Crown by 10.5% during 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 purchasing an additional 283,014 shares in the last quarter. Metropolis Capital Ltd lifted its stake 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 worth $203,116,000 after purchasing an additional 1,000,605 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Crown in the 4th quarter worth about $113,568,000. 90.93% of the stock is currently owned by institutional investors.

Crown Trading Down 0.0 %

NYSE CCK traded down $0.01 on Friday, hitting $89.49. The company's stock had a trading volume of 1,203,331 shares, compared to its average volume of 1,195,473. The firm has a market cap of $10.47 billion, a P/E ratio of 25.14, a PEG ratio of 1.56 and a beta of 0.79. Crown Holdings, Inc. has a 52-week low of $70.84 and a 52-week high of $98.46. The company's 50-day simple moving average is $87.19 and its 200 day simple moving average is $88.25. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88.

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, 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%. Research analysts predict that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were given a dividend of $0.26 per share. The ex-dividend date was Tuesday, March 18th. This represents a $1.04 annualized dividend and a dividend yield of 1.16%. This is a boost from Crown's previous quarterly dividend of $0.25. Crown's payout ratio is currently 29.21%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Citigroup raised their price objective on Crown from $110.00 to $111.00 and gave the company a "buy" rating in a report on Monday, January 6th. Truist Financial lowered their price objective on shares of Crown from $107.00 to $97.00 and set a "hold" rating for the company in a report on Tuesday. Morgan Stanley raised shares of Crown from an "equal weight" rating to an "overweight" rating and reduced their target price for the company from $109.00 to $105.00 in a report on Monday, January 13th. StockNews.com raised shares of Crown from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Finally, Wells Fargo & Company upped their price target on shares of Crown from $86.00 to $90.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Crown has a consensus rating of "Moderate Buy" and a consensus target price of $105.42.

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.