Bank of New York Mellon Corp Raises Holdings in Crown Holdings, Inc. (NYSE:CCK)

Bank of New York Mellon Corp increased its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 10.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,967,810 shares of the industrial products company’s stock after acquiring an additional 283,014 shares during the period. Bank of New York Mellon Corp’s holdings in Crown were worth $245,408,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Covestor Ltd grew its stake in shares of Crown by 156.5% during the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 277 shares during the period. Brooklyn Investment Group purchased a new stake in Crown during the third quarter worth $44,000. Catalyst Capital Advisors LLC acquired a new stake in Crown during the third quarter valued at $48,000. GAMMA Investing LLC increased its holdings in Crown by 84.2% in the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock valued at $47,000 after buying an additional 261 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Crown in the third quarter worth about $55,000. 90.93% of the stock is owned by institutional investors and hedge funds.

Crown Stock Up 0.3 %

CCK stock opened at $88.08 on Thursday. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88. The firm has a 50-day moving average of $85.41 and a two-hundred day moving average of $89.48. Crown Holdings, Inc. has a 12 month low of $70.84 and a 12 month high of $98.46. The company has a market cap of $10.54 billion, a price-to-earnings ratio of 24.74, a PEG ratio of 1.56 and a beta of 0.87.

Crown (NYSE:CCK) last posted its quarterly earnings results 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 return on equity of 25.12% and a net margin of 3.59%. As a group, analysts forecast that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

CCK has been the subject of several recent analyst reports. Bank of America cut their price target on Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Truist Financial boosted 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. Barclays decreased their target price on Crown from $112.00 to $109.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Finally, Morgan Stanley upgraded shares of Crown from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $109.00 to $105.00 in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Crown has an average rating of “Moderate Buy” and a consensus price target of $105.69.

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.