Zurcher Kantonalbank Zurich Cantonalbank Sells 17,672 Shares of Crown Holdings, Inc. (NYSE:CCK)

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 21.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 64,688 shares of the industrial products company's stock after selling 17,672 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.05% of Crown worth $5,349,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Tidal Investments LLC boosted its stake in Crown by 121.3% during the third quarter. Tidal Investments LLC now owns 21,997 shares of the industrial products company's stock valued at $2,109,000 after buying an additional 12,058 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Crown by 4.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 249,041 shares of the industrial products company's stock valued at $23,878,000 after acquiring an additional 10,295 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Crown by 19.3% in 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 purchasing an additional 176,959 shares in the last quarter. Natixis Advisors LLC increased its position in Crown by 10.4% in the third quarter. Natixis Advisors LLC now owns 171,080 shares of the industrial products company's stock worth $16,403,000 after purchasing an additional 16,050 shares during the last quarter. Finally, Metropolis Capital Ltd raised 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 valued at $203,116,000 after purchasing an additional 1,000,605 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company's stock.

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Analyst Ratings Changes

A number of equities analysts have commented on the stock. Citigroup lifted their price objective on shares of Crown from $110.00 to $111.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. 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. Morgan Stanley upgraded Crown from an "equal weight" rating to an "overweight" rating and dropped their target price for the stock from $109.00 to $105.00 in a report on Monday, January 13th. Wells Fargo & Company increased their price target on Crown from $86.00 to $90.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. Finally, StockNews.com raised shares of Crown from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $106.00.

Crown Trading Up 0.6 %

Shares of NYSE CCK traded up $0.55 during mid-day trading on Tuesday, reaching $90.46. The company had a trading volume of 859,411 shares, compared to its average volume of 1,132,401. The stock has a market cap of $10.63 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88. Crown Holdings, Inc. has a 52 week low of $70.84 and a 52 week high of $98.46. The business's 50-day moving average is $86.91 and its 200-day moving average is $89.53. 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 issued its 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 net margin of 3.59% and a return on equity of 25.12%. Equities analysts expect that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.15%. This is a boost from Crown's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, March 18th. Crown's dividend payout ratio is currently 29.21%.

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.