Hsbc Holdings PLC Acquires 99,527 Shares of Crown Holdings, Inc. (NYSE:CCK)

Hsbc Holdings PLC increased its stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 121.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 181,217 shares of the industrial products company's stock after buying an additional 99,527 shares during the period. Hsbc Holdings PLC owned about 0.15% of Crown worth $14,939,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Tidal Investments LLC increased its holdings in Crown by 121.3% during 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 raised its stake 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 valued at $90,511,000 after acquiring an additional 176,959 shares during the period. 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. raised its stake in Crown by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 812,474 shares of the industrial products company's stock valued at $67,183,000 after acquiring an additional 8,739 shares during the period. Finally, Virtu Financial LLC bought a new stake in Crown in the 3rd quarter valued at about $861,000. Hedge funds and other institutional investors own 90.93% of the company's stock.

Crown Price Performance

Shares of NYSE CCK traded down $0.17 during midday trading on Thursday, hitting $96.16. 1,658,045 shares of the company's stock were exchanged, compared to its average volume of 1,201,050. Crown Holdings, Inc. has a 12-month low of $70.84 and a 12-month high of $98.48. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88. The company has a market cap of $11.25 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 1.56 and a beta of 0.79. The business's fifty day moving average price is $87.56 and its two-hundred day moving average price is $88.29.

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

Crown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.08%. Crown's payout ratio is 29.21%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CCK. Bank of America lowered their price objective on Crown from $107.00 to $101.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company boosted their price objective on Crown from $89.00 to $101.00 and gave the company an "equal weight" rating in a research note on Wednesday. UBS Group boosted their price objective on Crown from $109.00 to $114.00 and gave the company a "buy" rating in a research note on Tuesday. Morgan Stanley upgraded Crown from an "equal weight" rating to an "overweight" rating and lowered their price objective for the company from $109.00 to $105.00 in a research note on Monday, January 13th. Finally, Citigroup lifted their target price on Crown from $110.00 to $111.00 and gave the company a "buy" rating in a report on Monday, January 6th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Crown currently has an average rating of "Moderate Buy" and a consensus price target of $108.75.

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.