Crown Holdings, Inc. (NYSE:CCK) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its stake in Crown Holdings, Inc. (NYSE:CCK) by 4.2% in the fourth quarter, HoldingsChannel reports. The fund owned 7,472 shares of the industrial products company’s stock after purchasing an additional 300 shares during the period. Daiwa Securities Group Inc.’s holdings in Crown were worth $688,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. BluePath Capital Management LLC purchased a new position in shares of Crown during the 3rd quarter valued at approximately $25,000. Sound Income Strategies LLC purchased a new position in Crown in the fourth quarter valued at $26,000. TFC Financial Management Inc. raised its position in shares of Crown by 23,000.0% in the third quarter. TFC Financial Management Inc. now owns 924 shares of the industrial products company’s stock worth $82,000 after acquiring an additional 920 shares during the period. Fifth Third Bancorp boosted its stake in shares of Crown by 46.0% during the 3rd quarter. Fifth Third Bancorp now owns 1,009 shares of the industrial products company’s stock worth $89,000 after acquiring an additional 318 shares in the last quarter. Finally, Picton Mahoney Asset Management grew its position in shares of Crown by 53.9% during the 3rd quarter. Picton Mahoney Asset Management now owns 1,036 shares of the industrial products company’s stock valued at $92,000 after acquiring an additional 363 shares during the period. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Wall Street Analyst Weigh In

CCK has been the subject of a number of analyst reports. Royal Bank of Canada reduced their price target on Crown from $110.00 to $97.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. Wells Fargo & Company decreased their target price on Crown from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 11th. UBS Group initiated coverage on shares of Crown in a research note on Tuesday, January 16th. They issued a “buy” rating and a $112.00 price target on the stock. Truist Financial restated a “hold” rating and set a $88.00 price objective (down from $100.00) on shares of Crown in a research report on Wednesday, March 27th. Finally, Mizuho dropped their target price on shares of Crown from $105.00 to $96.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Crown currently has an average rating of “Moderate Buy” and an average price target of $99.21.

Crown Stock Up 1.2 %

CCK stock opened at $79.74 on Friday. The company has a market cap of $9.63 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 2.67 and a beta of 0.91. The firm has a 50-day moving average of $77.10 and a two-hundred day moving average of $82.65. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $96.35. The company has a current ratio of 1.15, a quick ratio of 0.77 and a debt-to-equity ratio of 2.34.

Crown (NYSE:CCK) last posted its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.24 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.19). The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.96 billion. Crown had a net margin of 3.75% and a return on equity of 25.75%. Crown’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.17 EPS. As a group, analysts forecast that Crown Holdings, Inc. will post 5.9 earnings per share for the current fiscal 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 given a dividend of $0.25 per share. This is a boost from Crown’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.25%. Crown’s payout ratio is presently 26.60%.

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.