Raymond James Financial Services Advisors Inc. Buys 6,083 Shares of Crown Holdings, Inc. (NYSE:CCK)

Raymond James Financial Services Advisors Inc. raised its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 87.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 13,049 shares of the industrial products company’s stock after acquiring an additional 6,083 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Crown were worth $1,202,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CCK. Hudson Bay Capital Management LP lifted its stake in shares of Crown by 55.6% in the 3rd quarter. Hudson Bay Capital Management LP now owns 70,000 shares of the industrial products company’s stock worth $6,194,000 after purchasing an additional 25,000 shares during the period. Wellington Management Group LLP lifted its stake in shares of Crown by 4.1% in the 3rd quarter. Wellington Management Group LLP now owns 504,720 shares of the industrial products company’s stock worth $44,658,000 after purchasing an additional 19,666 shares during the period. SeaTown Holdings Pte. Ltd. lifted its stake in shares of Crown by 19.6% in the 3rd quarter. SeaTown Holdings Pte. Ltd. now owns 86,100 shares of the industrial products company’s stock worth $7,618,000 after purchasing an additional 14,100 shares during the period. Comerica Bank bought a new position in shares of Crown in the 3rd quarter worth approximately $5,019,000. Finally, DB Fitzpatrick & Co Inc increased its holdings in Crown by 0.9% in the 3rd quarter. DB Fitzpatrick & Co Inc now owns 16,258 shares of the industrial products company’s stock worth $1,439,000 after acquiring an additional 142 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CCK. Robert W. Baird reissued a “neutral” rating and issued a $90.00 target price on shares of Crown in a report on Tuesday, February 6th. Wolfe Research began coverage on shares of Crown in a report on Friday, March 1st. They issued an “outperform” rating and a $102.00 target price for the company. Mizuho reduced their target price on shares of Crown from $105.00 to $96.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Wells Fargo & Company cut their price objective on shares of Crown from $78.00 to $76.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, Royal Bank of Canada cut their price objective on shares of Crown from $110.00 to $97.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Crown presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.21.

Crown Stock Down 2.8 %

Shares of CCK opened at $77.31 on Friday. The company has a market cap of $9.34 billion, a PE ratio of 20.56, a P/E/G ratio of 2.69 and a beta of 0.91. The business has a fifty day moving average of $76.92 and a 200 day moving average of $83.16. Crown Holdings, Inc. has a 52-week low of $69.61 and a 52-week high of $96.35. The company has a quick ratio of 0.77, a current ratio of 1.15 and a debt-to-equity ratio of 2.34.

Crown (NYSE:CCK) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.19). Crown had a return on equity of 25.75% and a net margin of 3.75%. The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the prior year, the business earned $1.17 earnings per share. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, sell-side analysts expect that Crown Holdings, Inc. will post 5.91 EPS for the current year.

Crown Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.29%. This is a positive change from Crown’s previous quarterly dividend of $0.24. Crown’s dividend payout ratio (DPR) is currently 26.60%.

Crown 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.