Wellington Management Group LLP Acquires 3,708 Shares of Crown Holdings, Inc. (NYSE:CCK)

Wellington Management Group LLP increased its stake in Crown Holdings, Inc. (NYSE:CCK) by 0.5% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 720,523 shares of the industrial products company’s stock after buying an additional 3,708 shares during the quarter. Wellington Management Group LLP owned 0.60% of Crown worth $59,580,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Tidal Investments LLC increased its position in Crown by 121.3% in the third quarter. Tidal Investments LLC now owns 21,997 shares of the industrial products company’s stock worth $2,109,000 after buying an additional 12,058 shares during the last quarter. Nordea Investment Management AB increased its holdings in Crown by 19.3% in the 4th quarter. Nordea Investment Management AB now owns 1,095,382 shares of the industrial products company’s stock worth $90,511,000 after acquiring an additional 176,959 shares during the last quarter. Metropolis Capital Ltd raised its stake in Crown by 68.7% in the 4th quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company’s stock valued at $203,116,000 after acquiring an additional 1,000,605 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Crown by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 812,474 shares of the industrial products company’s stock valued at $67,183,000 after purchasing an additional 8,739 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in Crown during the third quarter worth about $861,000. Institutional investors own 90.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Citigroup increased their target price on Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Wells Fargo & Company lifted their price target on Crown from $86.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Truist Financial increased their price objective on Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Finally, Barclays cut their target price on Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Crown Price Performance

Shares of NYSE:CCK opened at $83.10 on Friday. The company’s fifty day moving average price is $88.44 and its 200-day moving average price is $89.37. 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 firm has a market capitalization of $9.72 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 1.56 and a beta of 0.88. Crown Holdings, Inc. has a one year low of $70.84 and a one year high of $98.46.

Crown (NYSE:CCK) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share 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, equities research analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were given a dividend of $0.26 per share. This is a boost from Crown’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Tuesday, March 18th. Crown’s dividend payout ratio (DPR) 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.