Crown Holdings, Inc. (NYSE:CCK) Stake Lessened by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,809 shares of the industrial products company’s stock after selling 194 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Crown were worth $2,300,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of 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 acquiring an additional 117 shares in the last quarter. Spire Wealth Management raised its holdings in shares of Crown by 16.2% during the fourth quarter. Spire Wealth Management now owns 992 shares of the industrial products company’s stock worth $82,000 after purchasing an additional 138 shares during the period. Marshall & Sullivan Inc. WA lifted its position in shares of Crown by 0.3% in the 4th quarter. Marshall & Sullivan Inc. WA now owns 57,268 shares of the industrial products company’s stock worth $4,735,000 after buying an additional 155 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in shares of Crown by 0.4% in 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 during the period. Finally, M&T Bank Corp grew its position in shares of 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 during the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Crown Trading Down 1.8 %

Crown stock opened at $88.19 on Friday. Crown Holdings, Inc. has a 12-month low of $70.84 and a 12-month high of $98.46. The stock has a market capitalization of $10.31 billion, a PE ratio of 24.77, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88. The firm has a 50 day simple moving average of $88.32 and a 200-day simple moving average of $89.45. 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 (NYSE:CCK) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, beating 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, equities research analysts expect that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.26 per share. This is a positive change from Crown’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.04 annualized dividend and a dividend yield of 1.18%. Crown’s dividend payout ratio (DPR) is 29.21%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CCK. Truist Financial lifted their target price on Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Morgan Stanley upgraded Crown from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $109.00 to $105.00 in a research note on Monday, January 13th. Bank of America cut their target price on Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. 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 research report on Friday, January 10th. Finally, StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Crown has an average rating of “Moderate Buy” and an average price target of $106.00.

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.