Vanguard Group Inc. Cuts Stake in Crown Holdings, Inc. (NYSE:CCK)

Vanguard Group Inc. trimmed its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,903,830 shares of the industrial products company’s stock after selling 44,080 shares during the quarter. Vanguard Group Inc. owned 9.95% of Crown worth $984,328,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Crown by 20.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock valued at $57,000 after buying an additional 117 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in shares of Crown by 4.6% in the fourth quarter. TD Private Client Wealth LLC now owns 2,864 shares of the industrial products company’s stock valued at $237,000 after purchasing an additional 125 shares during the period. Spire Wealth Management increased its holdings in Crown by 16.2% in the fourth quarter. Spire Wealth Management now owns 992 shares of the industrial products company’s stock valued at $82,000 after buying an additional 138 shares in the last quarter. Marshall & Sullivan Inc. WA boosted its stake in shares of Crown by 0.3% during the 4th quarter. Marshall & Sullivan Inc. WA now owns 57,268 shares of the industrial products company’s stock worth $4,735,000 after acquiring an additional 155 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in Crown by 0.4% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 45,445 shares of the industrial products company’s stock worth $3,758,000 after purchasing an additional 165 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Barclays cut their price target on Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Mizuho lowered their price target on shares of Crown from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Royal Bank of Canada lifted their price objective on Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Citigroup boosted their price target on Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Truist Financial upped their target price on shares of Crown from $103.00 to $104.00 and gave the company a “hold” rating in a report on Monday, January 6th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $106.00.

Crown Price Performance

Shares of Crown stock opened at $88.19 on Friday. The stock has a market capitalization of $10.31 billion, a P/E ratio of 24.77, a PEG ratio of 1.56 and a beta of 0.88. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88. The business’s fifty day moving average price is $88.32 and its 200 day moving average price is $89.45. Crown Holdings, Inc. has a twelve month low of $70.84 and a twelve month high of $98.46.

Crown (NYSE:CCK) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, topping 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, research analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current 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 paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis 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 (DPR) is currently 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.