Empowered Funds LLC Purchases Shares of 87,256 Crown Holdings, Inc. (NYSE:CCK)

Empowered Funds LLC acquired a new position in shares of Crown Holdings, Inc. (NYSE:CCK) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 87,256 shares of the industrial products company’s stock, valued at approximately $7,215,000.

Other institutional investors also recently bought and sold shares of the company. Kingsview Wealth Management LLC acquired a new position in shares of Crown in the 4th quarter valued at $2,024,000. Iridian Asset Management LLC CT grew its stake in shares of Crown by 13.5% in the 4th quarter. Iridian Asset Management LLC CT now owns 222,292 shares of the industrial products company’s stock valued at $18,381,000 after purchasing an additional 26,443 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Crown by 45.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,161 shares of the industrial products company’s stock valued at $2,577,000 after buying an additional 9,717 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of Crown during the fourth quarter worth about $1,176,000. Finally, Robertson Stephens Wealth Management LLC acquired a new position in Crown during the 4th quarter worth approximately $384,000. 90.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Truist Financial increased 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. Mizuho cut their price target on Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Robert W. Baird lifted their target price on shares of Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Loop Capital upped their price objective on shares of Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Royal Bank of Canada increased their target price on Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Crown currently has an average rating of “Moderate Buy” and a consensus price target of $105.69.

Crown Price Performance

Shares of CCK stock opened at $88.19 on Tuesday. Crown Holdings, Inc. has a twelve month low of $70.84 and a twelve month high of $98.46. The company has a current ratio of 1.22, a quick ratio of 0.84 and a debt-to-equity ratio of 1.88. The company has a market capitalization of $10.55 billion, a PE ratio of 24.77, a price-to-earnings-growth ratio of 1.68 and a beta of 0.87. The firm has a fifty day simple moving average of $85.36 and a 200-day simple moving average of $89.37.

Crown (NYSE:CCK) last issued its quarterly earnings results 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 net margin of 3.59% and a return on equity of 25.12%. Equities research analysts anticipate that Crown Holdings, Inc. will post 6.83 earnings per share for the current fiscal year.

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.