Amundi Increases Position in Crown Holdings, Inc. (NYSE:CCK)

Amundi lifted its position in Crown Holdings, Inc. (NYSE:CCK) by 67.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 818,361 shares of the industrial products company’s stock after purchasing an additional 328,825 shares during the period. Amundi owned about 0.68% of Crown worth $65,637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Machina Capital S.A.S. purchased a new stake in shares of Crown in the fourth quarter worth $499,000. Jackson Creek Investment Advisors LLC increased its stake in shares of Crown by 7.7% in the fourth quarter. Jackson Creek Investment Advisors LLC now owns 6,165 shares of the industrial products company’s stock worth $510,000 after purchasing an additional 441 shares in the last quarter. Carmel Capital Partners LLC increased its stake in shares of Crown by 3.7% in the fourth quarter. Carmel Capital Partners LLC now owns 17,782 shares of the industrial products company’s stock worth $1,470,000 after purchasing an additional 632 shares in the last quarter. Inceptionr LLC purchased a new stake in shares of Crown in the fourth quarter worth $1,959,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Crown in the fourth quarter worth $8,466,000. 90.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CCK has been the subject of several research analyst reports. Morgan Stanley raised shares of Crown from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $109.00 to $105.00 in a research note on Monday, January 13th. Truist Financial raised their target price on shares of Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Bank of America cut their target price on shares of Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Mizuho cut their target price on shares of Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Finally, UBS Group cut their target price on shares of Crown from $113.00 to $108.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Crown currently has an average rating of “Moderate Buy” and a consensus price target of $106.00.

Crown Price Performance

CCK stock opened at $89.40 on Wednesday. Crown Holdings, Inc. has a 52 week low of $70.84 and a 52 week high of $98.46. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. The company has a fifty day simple moving average of $86.37 and a two-hundred day simple moving average of $89.56. The firm has a market capitalization of $10.51 billion, a P/E ratio of 25.11, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88.

Crown (NYSE:CCK) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 EPS for the quarter, beating 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%. Analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from Crown’s previous quarterly dividend of $0.25. Crown’s dividend payout ratio (DPR) is 29.21%.

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.