Handelsbanken Fonder AB Has $1.85 Million Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

Handelsbanken Fonder AB raised its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 5.8% during the 4th quarter, HoldingsChannel reports. The firm owned 20,100 shares of the industrial products company’s stock after purchasing an additional 1,100 shares during the quarter. Handelsbanken Fonder AB’s holdings in Crown were worth $1,851,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CCK. Victory Capital Management Inc. boosted its position in shares of Crown by 9.6% in the third quarter. Victory Capital Management Inc. now owns 4,786,441 shares of the industrial products company’s stock valued at $423,504,000 after acquiring an additional 418,220 shares during the period. FMR LLC boosted its position in shares of Crown by 8.6% in the third quarter. FMR LLC now owns 3,776,097 shares of the industrial products company’s stock valued at $334,109,000 after acquiring an additional 298,766 shares during the period. Toronto Dominion Bank boosted its position in shares of Crown by 41.9% in the third quarter. Toronto Dominion Bank now owns 2,213,904 shares of the industrial products company’s stock valued at $195,886,000 after acquiring an additional 654,082 shares during the period. Impax Asset Management Group plc boosted its position in shares of Crown by 7.1% in the fourth quarter. Impax Asset Management Group plc now owns 2,013,351 shares of the industrial products company’s stock valued at $185,409,000 after acquiring an additional 133,813 shares during the period. Finally, Hsbc Holdings PLC lifted its position in Crown by 46.7% in the third quarter. Hsbc Holdings PLC now owns 1,414,343 shares of the industrial products company’s stock worth $125,449,000 after purchasing an additional 450,087 shares during the period. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Stock Performance

Shares of NYSE:CCK opened at $80.59 on Friday. Crown Holdings, Inc. has a twelve month low of $69.61 and a twelve month high of $96.35. The firm has a market cap of $9.73 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 2.67 and a beta of 0.91. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.77 and a current ratio of 1.15. The business has a fifty day moving average of $77.26 and a 200-day moving average of $82.63.

Crown (NYSE:CCK) last announced its earnings results on Tuesday, February 6th. The industrial products company reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.19). Crown had a net margin of 3.75% and a return on equity of 25.75%. The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same quarter last year, the business posted $1.17 earnings per share. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, equities research analysts predict that Crown Holdings, Inc. will post 5.9 EPS for the current fiscal year.

Crown Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $0.25 dividend. The ex-dividend date was Wednesday, March 13th. This is a positive change from Crown’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.24%. Crown’s dividend payout ratio (DPR) is 26.60%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CCK shares. Morgan Stanley started coverage on Crown in a research report on Monday, March 18th. They issued an “equal weight” rating and a $87.00 target price for the company. Robert W. Baird raised Crown from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $85.00 to $90.00 in a research report on Tuesday, April 16th. JPMorgan Chase & Co. raised Crown from a “neutral” rating to an “overweight” rating and set a $85.00 target price for the company in a research report on Wednesday, February 7th. Royal Bank of Canada reduced their target price on Crown from $110.00 to $97.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $88.00 target price (down from $100.00) on shares of Crown in a research report on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Crown presently has an average rating of “Moderate Buy” and a consensus target price of $99.21.

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.