Skandinaviska Enskilda Banken AB publ Buys 29,800 Shares of Crown Holdings, Inc. (NYSE:CCK)

Skandinaviska Enskilda Banken AB publ lifted its position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 100.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,562 shares of the industrial products company's stock after purchasing an additional 29,800 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Crown were worth $4,878,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its position in shares of 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 buying an additional 3,074,791 shares in the last quarter. Metropolis Capital Ltd increased its position in shares of 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 last quarter. Jennison Associates LLC lifted its holdings in Crown by 125.0% during the third quarter. Jennison Associates LLC now owns 1,352,711 shares of the industrial products company's stock worth $129,698,000 after acquiring an additional 751,530 shares during the period. FMR LLC boosted its position in Crown by 9.3% in the third quarter. FMR LLC now owns 8,787,606 shares of the industrial products company's stock worth $842,556,000 after purchasing an additional 749,085 shares during the last quarter. Finally, Swedbank AB grew its stake in Crown by 379.3% in the 4th quarter. Swedbank AB now owns 687,748 shares of the industrial products company's stock valued at $56,870,000 after purchasing an additional 544,246 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

A number of equities analysts recently weighed in on CCK shares. Royal Bank of Canada boosted their price target on shares of Crown from $113.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Truist Financial raised their target price on Crown from $103.00 to $104.00 and gave the stock a "hold" rating in a research report on Monday, January 6th. Mizuho cut their price target on Crown from $110.00 to $100.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. Barclays decreased their price objective on Crown from $112.00 to $109.00 and set an "overweight" rating for the company in a report on Monday, February 10th. Finally, Citigroup increased their target price on shares of Crown from $110.00 to $111.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $106.00.

Crown Price Performance

CCK stock traded up $0.16 during midday trading on Wednesday, reaching $90.58. The company had a trading volume of 854,116 shares, compared to its average volume of 1,129,924. The firm has a 50-day moving average price of $87.31 and a 200-day moving average price of $89.54. The company has a market capitalization of $10.65 billion, a P/E ratio of 25.44, a P/E/G ratio of 1.56 and a beta of 0.88. 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 current ratio of 1.22 and a quick ratio of 0.80.

Crown (NYSE:CCK - Get Free Report) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.08. Crown had a net margin of 3.59% and a return on equity of 25.12%. On average, research analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Increases Dividend

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