Crown Holdings, Inc. (NYSE:CCK) Shares Sold by Private Management Group Inc.

Private Management Group Inc. cut its position in Crown Holdings, Inc. (NYSE:CCK) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 304,133 shares of the industrial products company’s stock after selling 1,707 shares during the quarter. Private Management Group Inc. owned about 0.25% of Crown worth $28,008,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. BluePath Capital Management LLC acquired a new stake in Crown in the 3rd quarter valued at approximately $25,000. Sound Income Strategies LLC bought a new stake in shares of Crown during the fourth quarter valued at about $26,000. TFC Financial Management Inc. grew its position in Crown by 23,000.0% in the 3rd quarter. TFC Financial Management Inc. now owns 924 shares of the industrial products company’s stock valued at $82,000 after buying an additional 920 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Crown by 46.0% in the third quarter. Fifth Third Bancorp now owns 1,009 shares of the industrial products company’s stock valued at $89,000 after acquiring an additional 318 shares in the last quarter. Finally, Picton Mahoney Asset Management increased its position in shares of Crown by 53.9% during the 3rd quarter. Picton Mahoney Asset Management now owns 1,036 shares of the industrial products company’s stock valued at $92,000 after purchasing an additional 363 shares during the period. 90.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. UBS Group assumed coverage on Crown in a research report on Tuesday, January 16th. They issued a “buy” rating and a $112.00 price target for the company. JPMorgan Chase & Co. upgraded shares of Crown from a “neutral” rating to an “overweight” rating and set a $85.00 price target for the company in a research report on Wednesday, February 7th. Wells Fargo & Company lowered their price objective on shares of Crown from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 11th. Mizuho reduced their target price on Crown from $105.00 to $96.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Finally, Royal Bank of Canada lowered their price target on Crown from $110.00 to $97.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $99.21.

Crown Stock Down 1.1 %

CCK traded down $0.84 during midday trading on Tuesday, hitting $78.59. 1,154,863 shares of the company’s stock traded hands, compared to its average volume of 1,199,489. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.15 and a quick ratio of 0.77. The company has a market cap of $9.49 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 2.63 and a beta of 0.91. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $96.35. The stock’s fifty day simple moving average is $76.90 and its 200-day simple moving average is $82.71.

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

Crown Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.27%. The ex-dividend date was Wednesday, March 13th. This is an increase from Crown’s previous quarterly dividend of $0.24. Crown’s dividend payout ratio (DPR) is 26.60%.

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.