Crown Holdings, Inc. (NYSE:CCK) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,779,691 shares of the industrial products company's stock after purchasing an additional 102,789 shares during the quarter. Crown comprises approximately 0.5% of Victory Capital Management Inc.'s investment portfolio, making the stock its 22nd biggest position. Victory Capital Management Inc. owned 4.83% of Crown worth $477,923,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CCK. Covestor Ltd grew its holdings in shares of Crown by 156.5% during the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company's stock worth $44,000 after purchasing an additional 277 shares during the period. Brooklyn Investment Group purchased a new position in shares of Crown during the 3rd quarter worth $44,000. GAMMA Investing LLC grew its holdings in shares of Crown by 84.2% during the 4th quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company's stock worth $47,000 after purchasing an additional 261 shares during the period. Catalyst Capital Advisors LLC purchased a new position in shares of Crown during the 3rd quarter worth $48,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Crown during the 3rd quarter worth $55,000. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Crown Stock Up 2.6 %

CCK stock traded up $2.36 during mid-day trading on Friday, reaching $91.77. The company had a trading volume of 1,679,034 shares, compared to its average volume of 1,128,064. 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 company has a market capitalization of $10.79 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88. The firm has a fifty day simple moving average of $86.18 and a 200 day simple moving average of $89.54. Crown Holdings, Inc. has a fifty-two week low of $70.84 and a fifty-two week high of $98.46.

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Crown (NYSE:CCK - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, beating 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%. Analysts forecast that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from Crown's previous quarterly dividend of $0.25. Crown's dividend payout ratio (DPR) is 29.21%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CCK shares. StockNews.com upgraded Crown from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Wells Fargo & Company raised their target price on Crown from $86.00 to $90.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. Morgan Stanley upgraded Crown from an "equal weight" rating to an "overweight" rating and lowered their target price for the company from $109.00 to $105.00 in a report on Monday, January 13th. UBS Group lowered their target price on Crown from $113.00 to $108.00 and set a "buy" rating for the company in a report on Friday, January 10th. Finally, Truist Financial raised their target price on Crown from $103.00 to $104.00 and gave the company a "hold" rating in a report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $106.00.

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.