Crown Holdings, Inc. (NYSE:CCK) Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd decreased its holdings in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 35.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,855 shares of the industrial products company's stock after selling 20,485 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Crown were worth $3,394,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CCK. Hudson Bay Capital Management LP boosted its stake in Crown by 55.6% during the third quarter. Hudson Bay Capital Management LP now owns 70,000 shares of the industrial products company's stock valued at $6,194,000 after buying an additional 25,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Crown by 245.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,808 shares of the industrial products company's stock valued at $5,784,000 after buying an additional 44,630 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in Crown during the fourth quarter valued at approximately $3,122,000. Wellington Management Group LLP boosted its stake in Crown by 4.1% during the third quarter. Wellington Management Group LLP now owns 504,720 shares of the industrial products company's stock valued at $44,658,000 after buying an additional 19,666 shares during the last quarter. Finally, SeaTown Holdings Pte. Ltd. boosted its stake in Crown by 19.6% during the third quarter. SeaTown Holdings Pte. Ltd. now owns 86,100 shares of the industrial products company's stock valued at $7,618,000 after buying an additional 14,100 shares during the last quarter. Institutional investors own 90.93% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on CCK. Robert W. Baird raised Crown from a "neutral" rating to an "outperform" rating and increased their price target for the company from $85.00 to $90.00 in a research note on Tuesday, April 16th. Wolfe Research assumed coverage on Crown in a research report on Friday, March 1st. They set an "outperform" rating and a $102.00 price objective on the stock. Royal Bank of Canada decreased their price objective on Crown from $110.00 to $97.00 and set an "outperform" rating on the stock in a research report on Thursday, February 8th. Wells Fargo & Company decreased their price objective on Crown from $78.00 to $76.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 11th. Finally, Mizuho decreased their price objective on Crown from $105.00 to $96.00 and set a "buy" rating on the stock in a research report on Tuesday, February 6th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $99.21.

Crown Trading Up 0.3 %

Shares of NYSE CCK traded up $0.23 during midday trading on Wednesday, hitting $78.83. The company's stock had a trading volume of 1,492,159 shares, compared to its average volume of 1,204,587. The company has a current ratio of 1.15, a quick ratio of 0.77 and a debt-to-equity ratio of 2.34. The business's 50 day moving average is $77.00 and its two-hundred day moving average is $82.68. Crown Holdings, Inc. has a 12-month low of $69.61 and a 12-month high of $96.35. The firm has a market cap of $9.52 billion, a P/E ratio of 20.97, a price-to-earnings-growth ratio of 2.69 and a beta of 0.91.

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

Crown Increases Dividend

The company also recently disclosed 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 is an increase from Crown's previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.27%. The ex-dividend date was Wednesday, March 13th. Crown's dividend payout ratio (DPR) is presently 26.60%.

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.