Cibc World Markets Corp Cuts Holdings in Crown Holdings, Inc. (NYSE:CCK)

Cibc World Markets Corp lessened its stake in Crown Holdings, Inc. (NYSE:CCK) by 22.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,459 shares of the industrial products company’s stock after selling 1,578 shares during the quarter. Cibc World Markets Corp’s holdings in Crown were worth $451,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. LBP AM SA lifted its holdings in shares of Crown by 52.0% in the 4th quarter. LBP AM SA now owns 55,481 shares of the industrial products company’s stock worth $4,588,000 after acquiring an additional 18,992 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in shares of Crown in the 4th quarter worth approximately $66,732,000. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Crown by 100.1% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 59,562 shares of the industrial products company’s stock worth $4,878,000 after acquiring an additional 29,800 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Crown in the 4th quarter worth approximately $2,013,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Crown by 160.0% in the 4th quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 256 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Crown Stock Performance

Shares of CCK stock opened at $87.39 on Monday. Crown Holdings, Inc. has a one year low of $70.84 and a one year high of $98.46. The company’s 50-day moving average is $87.90 and its 200 day moving average is $89.51. The company has a market capitalization of $10.27 billion, a price-to-earnings ratio of 24.55, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22.

Crown (NYSE:CCK) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.08. Crown had a net margin of 3.59% and a return on equity of 25.12%. Sell-side analysts expect that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CCK shares. Bank of America lowered their price target on shares of Crown from $107.00 to $101.00 and set a “buy” rating for the company in a report on Monday, January 6th. Mizuho lowered their price target on shares of Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Truist Financial upped their price target on shares of Crown from $103.00 to $104.00 and gave the company a “hold” rating in a report on Monday, January 6th. Barclays lowered their price target on shares of Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Finally, UBS Group lowered their price target on shares of Crown from $113.00 to $108.00 and set a “buy” rating for the company in a report on Friday, January 10th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Crown currently has a consensus rating of “Moderate Buy” and an average 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.