Crown Holdings, Inc. (NYSE:CCK) Stock Position Lifted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its position in Crown Holdings, Inc. (NYSE:CCK) by 28.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 285,980 shares of the industrial products company’s stock after acquiring an additional 63,458 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.24% of Crown worth $23,224,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC boosted its position in Crown by 110.9% during the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 163 shares during the period. Exchange Traded Concepts LLC bought a new stake in Crown in the third quarter valued at $766,000. Creative Planning boosted its holdings in shares of Crown by 3.6% during the third quarter. Creative Planning now owns 45,835 shares of the industrial products company’s stock valued at $4,395,000 after acquiring an additional 1,586 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Crown by 1.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,444 shares of the industrial products company’s stock worth $2,056,000 after acquiring an additional 347 shares during the last quarter. Finally, Claro Advisors LLC acquired a new stake in shares of Crown in the 3rd quarter worth about $682,000. 90.93% of the stock is owned by institutional investors and hedge funds.

Crown Stock Performance

CCK stock opened at $88.11 on Friday. The stock has a market capitalization of $10.54 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 1.68 and a beta of 0.87. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.22 and a quick ratio of 0.84. The company has a 50 day moving average price of $85.21 and a 200 day moving average price of $89.40. Crown Holdings, Inc. has a fifty-two week low of $70.84 and a fifty-two week high of $98.46.

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%. Analysts forecast that Crown Holdings, Inc. will post 6.83 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Mizuho cut their price target on Crown from $110.00 to $100.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Morgan Stanley upgraded Crown from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $109.00 to $105.00 in a research report on Monday, January 13th. Truist Financial raised their price target on Crown from $103.00 to $104.00 and gave the company a “hold” rating in a report on Monday, January 6th. Royal Bank of Canada increased their target price on shares of Crown from $113.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Bank of America lowered their target price on shares of Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Crown currently has an average rating of “Moderate Buy” and an average 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.