Crown Holdings, Inc. (NYSE:CCK) Shares Sold by LPL Financial LLC

LPL Financial LLC decreased its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 15.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,881 shares of the industrial products company’s stock after selling 4,268 shares during the quarter. LPL Financial LLC’s holdings in Crown were worth $1,975,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Victory Capital Management Inc. increased its position in Crown by 1.8% during the 4th 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 in the last quarter. Pacer Advisors Inc. increased its stake in shares of Crown by 10,138.8% in the fourth quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company’s stock valued at $256,762,000 after purchasing an additional 3,074,791 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of 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 valued at $245,408,000 after purchasing an additional 283,014 shares during the period. Metropolis Capital Ltd increased its stake in shares of Crown by 68.7% during the fourth quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company’s stock valued at $203,116,000 after acquiring an additional 1,000,605 shares during the period. Finally, Nordea Investment Management AB boosted its stake in Crown by 19.3% during the fourth quarter. Nordea Investment Management AB now owns 1,095,382 shares of the industrial products company’s stock valued at $90,511,000 after buying an additional 176,959 shares in the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Crown Stock Performance

Crown stock opened at $84.83 on Wednesday. Crown Holdings, Inc. has a 1 year low of $70.84 and a 1 year high of $98.46. The company’s 50-day moving average is $87.55 and its two-hundred day moving average is $88.65. 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 company has a market cap of $9.92 billion, a PE ratio of 23.83, a PEG ratio of 1.56 and a beta of 0.79.

Crown (NYSE:CCK) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.08. Crown had a net margin of 3.59% and a return on equity of 25.12%. Equities analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were issued a dividend of $0.26 per share. This is an increase from Crown’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Tuesday, March 18th. Crown’s dividend payout ratio (DPR) is 29.21%.

Analysts Set New Price Targets

CCK has been the subject of a number of recent analyst reports. Truist Financial increased their price target on Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research report on Monday, January 6th. UBS Group lowered their price objective on Crown from $113.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Citigroup increased their target price on Crown from $110.00 to $111.00 and gave the company a “buy” rating in a research note on Monday, January 6th. 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 report on Friday, February 7th. Finally, Bank of America cut their target price on Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.