Cannell & Spears LLC Decreases Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Cannell & Spears LLC trimmed its position in Crown Holdings, Inc. (NYSE:CCK) by 16.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 277,475 shares of the industrial products company’s stock after selling 56,041 shares during the quarter. Cannell & Spears LLC’s holdings in Crown were worth $22,944,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CCK. Farther Finance Advisors LLC increased its stake in Crown by 160.0% in the 4th quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 256 shares during the last quarter. GAMMA Investing LLC increased its position in Crown by 84.2% in the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 261 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Crown by 20.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 117 shares in the last quarter. True Wealth Design LLC lifted its position in Crown by 6,850.0% during the third quarter. True Wealth Design LLC now owns 695 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 685 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of Crown by 48.6% in the 4th quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company’s stock worth $68,000 after buying an additional 269 shares in the last quarter. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Crown Price Performance

Crown stock opened at $88.19 on Monday. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.22 and a quick ratio of 0.80. The stock has a market cap of $10.31 billion, a price-to-earnings 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 moving average of $88.32 and a two-hundred day moving average of $89.45. Crown Holdings, Inc. has a 1 year low of $70.84 and a 1 year high of $98.46.

Crown (NYSE:CCK) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.08. Crown had a return on equity of 25.12% and a net margin of 3.59%. On average, research analysts forecast that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be issued a $0.26 dividend. This is an increase from Crown’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Tuesday, March 18th. Crown’s payout ratio is presently 29.21%.

Analyst Ratings Changes

Several analysts have recently issued reports on CCK shares. Barclays decreased their target price on shares of 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 Crown from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Truist Financial boosted their target price on Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Mizuho lowered their price target on Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Finally, Citigroup boosted their price objective on shares of Crown from $110.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Crown currently has a consensus rating of “Moderate Buy” and a consensus target price 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.