Sumitomo Mitsui Trust Holdings Inc. Decreases Holdings in Crown Holdings, Inc. (NYSE:CCK)

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 0.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 258,067 shares of the industrial products company’s stock after selling 1,674 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Crown were worth $23,765,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Equitable Holdings Inc. lifted its holdings in shares of Crown by 4.5% in the 2nd quarter. Equitable Holdings Inc. now owns 2,681 shares of the industrial products company’s stock valued at $233,000 after purchasing an additional 116 shares during the last quarter. DB Fitzpatrick & Co Inc lifted its holdings in shares of Crown by 0.9% in the 3rd quarter. DB Fitzpatrick & Co Inc now owns 16,258 shares of the industrial products company’s stock valued at $1,439,000 after purchasing an additional 142 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Crown by 1.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 13,715 shares of the industrial products company’s stock valued at $1,205,000 after purchasing an additional 180 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of Crown by 0.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 48,116 shares of the industrial products company’s stock valued at $4,257,000 after purchasing an additional 180 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Crown by 2.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 6,903 shares of the industrial products company’s stock valued at $611,000 after purchasing an additional 183 shares during the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on CCK shares. Morgan Stanley started coverage on Crown in a research note on Monday, March 18th. They set an “equal weight” rating and a $87.00 price objective for the company. Wolfe Research started coverage on Crown in a research note on Friday, March 1st. They set an “outperform” rating and a $102.00 price objective for the company. Truist Financial reaffirmed a “hold” rating and set a $88.00 price objective (down from $100.00) on shares of Crown in a research note on Wednesday, March 27th. JPMorgan Chase & Co. raised Crown from a “neutral” rating to an “overweight” rating and set a $85.00 price objective for the company in a research note on Wednesday, February 7th. Finally, Wells Fargo & Company reduced their price objective on Crown from $78.00 to $76.00 and set an “equal weight” rating for the company in a research note on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Crown currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.21.

Crown Stock Performance

NYSE CCK opened at $77.67 on Monday. The company has a current ratio of 1.15, a quick ratio of 0.77 and a debt-to-equity ratio of 2.34. The business’s 50 day moving average is $76.82 and its two-hundred day moving average is $82.75. Crown Holdings, Inc. has a 12-month low of $69.61 and a 12-month high of $96.35. The stock has a market capitalization of $9.38 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 2.63 and a beta of 0.91.

Crown (NYSE:CCK) last released its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.19). The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.96 billion. Crown had a return on equity of 25.75% and a net margin of 3.75%. The business’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.17 EPS. Research analysts expect that Crown Holdings, Inc. will post 5.9 EPS for the current year.

Crown Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.25 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.29%. This is a boost from Crown’s previous quarterly dividend of $0.24. Crown’s dividend payout ratio is currently 26.60%.

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.