Wealth Enhancement Advisory Services LLC Has $1.27 Million Holdings in Crown Holdings, Inc. (NYSE:CCK)

Wealth Enhancement Advisory Services LLC lessened its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 22.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,378 shares of the industrial products company's stock after selling 4,454 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Crown were worth $1,272,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CCK. Spire Wealth Management raised its position in Crown by 16.2% in the fourth quarter. Spire Wealth Management now owns 992 shares of the industrial products company's stock worth $82,000 after acquiring an additional 138 shares in the last quarter. abrdn plc boosted its position in Crown by 12.0% during the fourth quarter. abrdn plc now owns 3,750 shares of the industrial products company's stock worth $307,000 after purchasing an additional 402 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Crown by 20.0% during the fourth 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 last quarter. Robertson Stephens Wealth Management LLC acquired a new position in shares of Crown in the fourth quarter valued at $384,000. Finally, Strategic Financial Concepts LLC acquired a new position in Crown during the fourth quarter worth $1,176,000. Institutional investors and hedge funds own 90.93% of the company's stock.

Analyst Ratings Changes

CCK has been the topic of several recent research reports. Wells Fargo & Company raised their price target on Crown from $89.00 to $101.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Wall Street Zen raised Crown from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 6th. UBS Group raised their price target on Crown from $109.00 to $114.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Truist Financial reduced 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. Finally, Royal Bank of Canada boosted their price target on Crown from $115.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $110.45.

Crown Stock Performance

Crown stock traded up $0.52 during midday trading on Wednesday, hitting $100.52. 977,661 shares of the company's stock were exchanged, compared to its average volume of 1,235,527. The stock has a market cap of $11.70 billion, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 1.56 and a beta of 0.76. The firm's 50 day simple moving average is $93.27 and its 200 day simple moving average is $89.28. 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 $102.00.

Crown (NYSE:CCK - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The industrial products company reported $1.67 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 firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the previous year, the firm earned $1.02 earnings per share. The firm's revenue was up 3.7% on a year-over-year basis. Equities research analysts predict that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were paid a $0.26 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.04 annualized dividend and a dividend yield of 1.03%. Crown's dividend payout ratio (DPR) is presently 22.37%.

Insider Buying and Selling at Crown

In related news, COO Gerard H. Gifford sold 7,000 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $97.00, for a total transaction of $679,000.00. Following the transaction, the chief operating officer now owns 135,014 shares of the company's stock, valued at approximately $13,096,358. The trade was a 4.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Christy L. Kalaus sold 2,130 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $99.41, for a total transaction of $211,743.30. Following the transaction, the vice president now owns 4,500 shares in the company, valued at approximately $447,345. This trade represents a 32.13% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

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.