Crown Holdings, Inc. (NYSE:CCK) Stock Holdings Decreased by Clearbridge Investments LLC

Clearbridge Investments LLC decreased its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 12.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,421,951 shares of the industrial products company’s stock after selling 200,328 shares during the quarter. Clearbridge Investments LLC’s holdings in Crown were worth $117,581,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CCK. Victory Capital Management Inc. lifted its stake in Crown by 1.8% during the fourth quarter. Victory Capital Management Inc. now owns 5,779,691 shares of the industrial products company’s stock worth $477,923,000 after purchasing an additional 102,789 shares during the last quarter. State Street Corp lifted its position in shares of Crown by 1.8% in the 3rd quarter. State Street Corp now owns 4,000,402 shares of the industrial products company’s stock worth $383,559,000 after buying an additional 69,260 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Crown by 10,138.8% in the 4th quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company’s stock valued at $256,762,000 after buying an additional 3,074,791 shares during the period. 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 worth $245,408,000 after acquiring an additional 283,014 shares during the period. 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 worth $203,116,000 after acquiring an additional 1,000,605 shares during the period. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Crown Stock Performance

CCK opened at $88.19 on Monday. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. The firm has a market cap of $10.31 billion, a PE ratio of 24.77, a P/E/G ratio of 1.56 and a beta of 0.88. The business has a fifty day simple moving average of $88.32 and a 200-day simple moving average of $89.45. Crown Holdings, Inc. has a fifty-two week low of $70.84 and a fifty-two week high of $98.46.

Crown (NYSE:CCK) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share 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%. As a group, equities analysts predict that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Tuesday, March 18th. This is an increase from Crown’s previous quarterly dividend of $0.25. Crown’s dividend payout ratio is 29.21%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Truist Financial upped 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. Citigroup increased their target price on Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Bank of America lowered their price target on shares of Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Barclays cut their price objective on shares of Crown from $112.00 to $109.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Finally, Wells Fargo & Company upped their target price on shares of Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.