Raymond James Financial Inc. Invests $8.47 Million in Crown Holdings, Inc. (NYSE:CCK)

Raymond James Financial Inc. purchased a new position in Crown Holdings, Inc. (NYSE:CCK) during the 4th quarter, Holdings Channel.com reports. The firm purchased 102,380 shares of the industrial products company’s stock, valued at approximately $8,466,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its position in Crown by 20.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock valued at $57,000 after buying an additional 117 shares in the last quarter. Spire Wealth Management increased its position in Crown by 16.2% during the 4th quarter. Spire Wealth Management now owns 992 shares of the industrial products company’s stock valued at $82,000 after buying an additional 138 shares in the last quarter. Marshall & Sullivan Inc. WA increased its position in Crown by 0.3% during the 4th quarter. Marshall & Sullivan Inc. WA now owns 57,268 shares of the industrial products company’s stock valued at $4,735,000 after buying an additional 155 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its position in Crown by 0.4% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 45,445 shares of the industrial products company’s stock valued at $3,758,000 after buying an additional 165 shares in the last quarter. Finally, M&T Bank Corp increased its position in Crown by 3.8% during the 3rd quarter. M&T Bank Corp now owns 5,013 shares of the industrial products company’s stock valued at $481,000 after buying an additional 185 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.

Analyst Ratings Changes

CCK has been the subject of a number of analyst reports. Truist Financial raised their price objective on Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Wells Fargo & Company lifted their target price on Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Citigroup lifted their target price on Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a report on Monday, January 6th. UBS Group reduced their target price on Crown from $113.00 to $108.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, Mizuho reduced their target price on Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $106.00.

Crown Stock Performance

Shares of CCK opened at $87.39 on Friday. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.22 and a quick ratio of 0.80. Crown Holdings, Inc. has a one year low of $70.84 and a one year high of $98.46. The firm has a market capitalization of $10.27 billion, a P/E ratio of 24.55, a PEG ratio of 1.56 and a beta of 0.88. The business has a fifty day moving average of $87.90 and a 200 day moving average of $89.52.

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

Crown Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, March 18th. This is an increase from Crown’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 1.19%. Crown’s payout ratio is 29.21%.

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.