Posted by admin on Jun 25th, 2022

Wedge Capital Management L L P NC cut its holdings in shares of Crown Holdings, Inc. (NYSE:CCK – Get Rating) by 20.4% in the 1st quarter, Holdings Channel reports. The firm owned 62,404 shares of the industrial products company’s stock after selling 16,019 shares during the period. Wedge Capital Management L L P NC’s holdings in Crown were worth $7,806,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. McElhenny Sheffield Capital Management LLC lifted its stake in Crown by 0.9% during the fourth quarter. McElhenny Sheffield Capital Management LLC now owns 11,100 shares of the industrial products company’s stock worth $1,228,000 after purchasing an additional 100 shares during the last quarter. McIlrath & Eck LLC increased its holdings in shares of Crown by 11.8% during the fourth quarter. McIlrath & Eck LLC now owns 946 shares of the industrial products company’s stock worth $105,000 after buying an additional 100 shares in the last quarter. Connable Office Inc. increased its holdings in shares of Crown by 4.0% during the fourth quarter. Connable Office Inc. now owns 2,840 shares of the industrial products company’s stock worth $314,000 after buying an additional 108 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co increased its holdings in shares of Crown by 3.3% during the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,430 shares of the industrial products company’s stock worth $379,000 after buying an additional 110 shares in the last quarter. Finally, Zeke Capital Advisors LLC increased its holdings in shares of Crown by 2.5% during the third quarter. Zeke Capital Advisors LLC now owns 5,039 shares of the industrial products company’s stock worth $508,000 after buying an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 91.52% of the company’s stock.

A number of analysts recently weighed in on the company. Mizuho decreased their price objective on Crown from $131.00 to $126.00 in a report on Wednesday, April 27th. Wells Fargo & Company downgraded Crown from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $150.00 to $110.00 in a report on Thursday, June 9th. StockNews.com assumed coverage on Crown in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Citigroup increased their price objective on Crown from $143.00 to $151.00 in a report on Friday, April 8th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.30.

CCK stock opened at $95.43 on Friday. The stock has a market capitalization of $11.73 billion, a PE ratio of -21.35, a price-to-earnings-growth ratio of 2.22 and a beta of 1.11. The company’s 50-day moving average is $104.62 and its 200-day moving average is $112.41. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.99 and a quick ratio of 0.59. Crown Holdings, Inc. has a 1 year low of $88.09 and a 1 year high of $130.42.

Crown (NYSE:CCK – Get Rating) last released its quarterly earnings data on Monday, April 25th. The industrial products company reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.19. The company had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Crown had a negative net margin of 4.63% and a positive return on equity of 39.60%. The business’s revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.83 EPS. On average, analysts anticipate that Crown Holdings, Inc. will post 8.17 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 26th. Stockholders of record on Thursday, May 12th were given a dividend of $0.22 per share. The ex-dividend date was Wednesday, May 11th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.92%. Crown’s dividend payout ratio (DPR) is presently -19.69%.

In other news, insider Djalma Novaes, Jr. sold 5,000 shares of the stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $105.38, for a total transaction of $526,900.00. Following the transaction, the insider now owns 80,328 shares of the company’s stock, valued at approximately $8,464,964.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by corporate insiders.

Crown Company Profile (Get Rating)

Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food and beverage industries. The company also provides products for industrial products, such as steel and plastic strap consumables and equipment, paper-based protective packaging, and plastic film consumables and equipment to metals, food and beverage, construction, agricultural, corrugated, and general industries.

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