Teachers Retirement System of The State of Kentucky Reduces Holdings in Crown Holdings, Inc. (NYSE:CCK)

Teachers Retirement System of The State of Kentucky lowered its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,135 shares of the industrial products company’s stock after selling 1,830 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Crown were worth $2,988,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Farther Finance Advisors LLC raised its holdings in shares of Crown by 160.0% in the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $34,000 after buying an additional 256 shares during the last quarter. GAMMA Investing LLC increased its position in shares of 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 acquiring an additional 261 shares during the period. Mirae Asset Global Investments Co. Ltd. raised 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 worth $57,000 after acquiring an additional 117 shares during the last quarter. Venturi Wealth Management LLC lifted its position in Crown by 48.6% during the 4th quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company’s stock worth $68,000 after acquiring an additional 269 shares during the period. Finally, Jones Financial Companies Lllp grew its stake in Crown by 325.1% during the 4th quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company’s stock valued at $70,000 after purchasing an additional 647 shares during the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

Crown Stock Performance

Shares of CCK stock opened at $86.82 on Thursday. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88. Crown Holdings, Inc. has a 12-month low of $70.84 and a 12-month high of $98.46. The business’s 50 day moving average is $87.19 and its two-hundred day moving average is $88.29. The company has a market capitalization of $10.15 billion, a P/E ratio of 24.39, a P/E/G ratio of 1.56 and a beta of 0.79.

Crown (NYSE:CCK) last announced its 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%. Analysts expect that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Tuesday, March 18th. This is an increase from Crown’s previous quarterly dividend of $0.25. Crown’s dividend payout ratio is 29.21%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Royal Bank of Canada lifted their target price on Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. UBS Group decreased their price objective on shares of Crown from $113.00 to $108.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Citigroup increased their price objective on shares of Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Truist Financial decreased their target price on shares of Crown from $107.00 to $97.00 and set a “hold” rating for the company in a research report on Tuesday. Finally, Bank of America cut their price target on Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Crown currently has an average rating of “Moderate Buy” and a consensus target price of $105.42.

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.