Cetera Investment Advisers Lowers Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

Cetera Investment Advisers lowered its holdings in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 27.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,801 shares of the industrial products company's stock after selling 2,921 shares during the quarter. Cetera Investment Advisers' holdings in Crown were worth $645,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its position in shares of Crown by 160.0% in the 4th quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock worth $34,000 after acquiring an additional 256 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Crown by 20.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company's stock worth $57,000 after buying an additional 117 shares during the period. Venturi Wealth Management LLC lifted its position in shares of 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 buying an additional 269 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Crown by 325.1% during the 4th quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company's stock worth $70,000 after buying an additional 647 shares during the period. Finally, Spire Wealth Management lifted its position in shares of Crown by 16.2% during the 4th quarter. Spire Wealth Management now owns 992 shares of the industrial products company's stock worth $82,000 after buying an additional 138 shares during the period. Institutional investors and hedge funds own 90.93% of the company's stock.

Insider Activity

In related news, COO Gerard H. Gifford sold 7,000 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $97.00, for a total value of $679,000.00. Following the completion of the transaction, the chief operating officer now directly owns 135,014 shares of the company's stock, valued at $13,096,358. This represents a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Christy L. Kalaus sold 2,130 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $99.41, for a total transaction of $211,743.30. Following the transaction, the vice president now directly owns 4,500 shares of the company's stock, valued at $447,345. This represents a 32.13% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.90% of the company's stock.

Crown Stock Performance

Shares of Crown stock traded up $1.49 during mid-day trading on Tuesday, hitting $98.53. 873,808 shares of the stock were exchanged, compared to its average volume of 1,220,956. The company has a 50-day simple moving average of $90.99 and a 200 day simple moving average of $88.70. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22. Crown Holdings, Inc. has a 12 month low of $70.84 and a 12 month high of $100.24. The company has a market capitalization of $11.47 billion, a P/E ratio of 27.68, a P/E/G ratio of 1.56 and a beta of 0.76.

Crown (NYSE:CCK - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.22 by $0.45. Crown had a net margin of 3.59% and a return on equity of 25.12%. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the previous year, the firm posted $1.02 EPS. The firm's revenue was up 3.7% compared to the same quarter last year. Sell-side analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Thursday, May 15th. Crown's dividend payout ratio (DPR) is 22.37%.

Analysts Set New Price Targets

A number of research firms recently weighed in on CCK. Barclays raised their price target on Crown from $109.00 to $117.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Wall Street Zen raised Crown from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Truist Financial lowered their target price on Crown from $107.00 to $97.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. Mizuho lifted their target price on Crown from $105.00 to $110.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Finally, Royal Bank of Canada lifted their target price on Crown from $115.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $110.45.

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.