Gabelli Funds LLC reduced its stake in shares of Crown Holdings, Inc. (NYSE:CCK – Get Rating) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 179,850 shares of the industrial products company’s stock after selling 4,562 shares during the quarter. Gabelli Funds LLC owned 0.15% of Crown worth $14,573,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Impactive Capital LP grew its position in Crown by 27.7% during the third quarter. Impactive Capital LP now owns 3,154,726 shares of the industrial products company’s stock worth $255,627,000 after buying an additional 684,077 shares during the period. Delphia USA Inc. acquired a new position in Crown during the third quarter worth about $218,000. Allstate Corp grew its position in Crown by 64.5% during the third quarter. Allstate Corp now owns 7,557 shares of the industrial products company’s stock worth $612,000 after buying an additional 2,962 shares during the period. Verition Fund Management LLC grew its position in Crown by 2.8% during the third quarter. Verition Fund Management LLC now owns 6,278 shares of the industrial products company’s stock worth $509,000 after buying an additional 169 shares during the period. Finally, Nuveen Asset Management LLC grew its position in shares of Crown by 0.8% in the third quarter. Nuveen Asset Management LLC now owns 5,239,145 shares of the industrial products company’s stock valued at $424,527,000 after purchasing an additional 43,471 shares during the last quarter.
Analyst Upgrades and Downgrades
Several analysts have recently commented on CCK shares. Royal Bank of Canada increased their price target on shares of Crown from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Friday, February 10th. Robert W. Baird lowered shares of Crown from an “outperform” rating to a “neutral” rating and set a $80.00 price target on the stock. in a research report on Wednesday, January 4th. Citigroup increased their price target on shares of Crown from $97.00 to $104.00 and gave the company a “buy” rating in a research report on Friday, February 10th. Mizuho increased their price target on shares of Crown from $100.00 to $103.00 in a research report on Thursday, February 9th. Finally, Wells Fargo & Company increased their price target on shares of Crown from $80.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, February 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Crown has an average rating of “Moderate Buy” and a consensus price target of $97.73.
Crown Stock Performance
Shares of CCK stock opened at $85.58 on Friday. The company’s fifty day simple moving average is $85.52 and its 200-day simple moving average is $85.19. The company has a market cap of $10.27 billion, a PE ratio of 14.34, a P/E/G ratio of 2.72 and a beta of 1.08. Crown Holdings, Inc. has a 52 week low of $66.00 and a 52 week high of $130.42. The company has a current ratio of 1.24, a quick ratio of 0.69 and a debt-to-equity ratio of 3.14.
Crown (NYSE:CCK – Get Rating) last released its quarterly earnings results on Wednesday, February 8th. The industrial products company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.10. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.12 billion. Crown had a net margin of 5.62% and a return on equity of 37.36%. The business’s revenue was down 1.4% on a year-over-year basis. During the same period last year, the business earned $1.66 EPS. As a group, equities research analysts anticipate that Crown Holdings, Inc. will post 6.28 EPS for the current year.
Crown Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Thursday, March 9th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.12%. This is a positive change from Crown’s previous quarterly dividend of $0.22. The ex-dividend date is Wednesday, March 8th. Crown’s dividend payout ratio (DPR) is presently 14.74%.
Crown Profile
Crown Holdings, Inc engages in the design, manufacture, and sale of packaging products and equipment for consumer goods. The firm offers aerosol cans, beverage, promotional, and transit packaging, closures and capping, and food cans. It operates through the following segments: Americas, Europe, Asia Pacific, and Transit Packaging.