AGF Management Ltd. Has $2.35 Million Position in Crown Holdings, Inc. (NYSE:CCK)

AGF Management Ltd. cut its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 18.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,444 shares of the industrial products company’s stock after selling 6,430 shares during the quarter. AGF Management Ltd.’s holdings in Crown were worth $2,352,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Covestor Ltd boosted its stake in Crown by 156.5% in the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 277 shares during the period. Brooklyn Investment Group bought a new stake in Crown in the 3rd quarter valued at $44,000. GAMMA Investing LLC boosted its stake in Crown by 84.2% in the 4th quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 261 shares during the period. True Wealth Design LLC boosted its stake in Crown by 6,850.0% in the 3rd 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 period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Crown by 20.0% in the 4th 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 during the period. 90.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CCK has been the subject of several recent research reports. Morgan Stanley upgraded Crown from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $109.00 to $105.00 in a research note on Monday, January 13th. Truist Financial upped 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. Bank of America cut their target price on Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Citigroup upped their target price on Crown from $110.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Crown currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Crown Price Performance

Shares of CCK stock opened at $89.01 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. Crown Holdings, Inc. has a twelve month low of $70.84 and a twelve month high of $98.46. The company has a market cap of $10.46 billion, a P/E ratio of 25.00, a P/E/G ratio of 1.56 and a beta of 0.88. The business has a fifty day simple moving average of $86.74 and a 200 day simple moving average of $89.54.

Crown (NYSE:CCK) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, topping 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, sell-side analysts forecast that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Tuesday, March 18th. This is a boost from Crown’s previous quarterly dividend of $0.25. Crown’s dividend payout ratio is presently 29.21%.

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.