Vinva Investment Management Ltd Acquires 8,046 Shares of Crown Holdings, Inc. (NYSE:CCK)

Vinva Investment Management Ltd boosted its stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 208.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,911 shares of the industrial products company's stock after purchasing an additional 8,046 shares during the quarter. Vinva Investment Management Ltd's holdings in Crown were worth $975,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CCK. FMR LLC boosted its stake in Crown by 9.3% during the third quarter. FMR LLC now owns 8,787,606 shares of the industrial products company's stock valued at $842,556,000 after buying an additional 749,085 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Crown by 1.8% during the 4th quarter. Victory Capital Management Inc. now owns 5,779,691 shares of the industrial products company's stock valued at $477,923,000 after acquiring an additional 102,789 shares during the last quarter. State Street Corp boosted its position in shares of Crown by 1.8% during the 3rd quarter. State Street Corp now owns 4,000,402 shares of the industrial products company's stock valued at $383,559,000 after acquiring an additional 69,260 shares during the last quarter. Pacer Advisors Inc. increased its position 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 worth $256,762,000 after purchasing an additional 3,074,791 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake 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. Institutional investors own 90.93% of the company's stock.

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Crown Trading Down 1.5 %

Crown stock traded down $1.29 during trading hours on Tuesday, hitting $87.10. The company had a trading volume of 1,088,909 shares, compared to its average volume of 1,139,470. 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 firm has a market cap of $10.24 billion, a P/E ratio of 24.47, a P/E/G ratio of 1.56 and a beta of 0.88. The company has a 50-day moving average price of $88.02 and a two-hundred day moving average price of $89.50. Crown Holdings, Inc. has a 1 year low of $70.84 and a 1 year high of $98.46.

Crown (NYSE:CCK - Get Free Report) last announced 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%. On average, sell-side analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be issued a $0.26 dividend. This is an increase from Crown's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Tuesday, March 18th. Crown's payout ratio is presently 29.21%.

Wall Street Analysts Forecast Growth

CCK has been the topic of several recent research reports. Wells Fargo & Company upped their target price 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. Truist Financial upped their price objective on Crown from $103.00 to $104.00 and gave the company a "hold" rating in a research report on Monday, January 6th. UBS Group dropped 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. Royal Bank of Canada raised their price target on Crown from $113.00 to $115.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Finally, Morgan Stanley upgraded shares of Crown from an "equal weight" rating to an "overweight" rating and cut their price objective for the company from $109.00 to $105.00 in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $106.00.

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.