Truist Financial Corp Has $64.25 Million Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Truist Financial Corp decreased its position in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 697,720 shares of the industrial products company's stock after selling 20,165 shares during the quarter. Truist Financial Corp owned about 0.58% of Crown worth $64,253,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. DB Fitzpatrick & Co Inc grew its stake in shares of Crown by 0.9% in the 3rd quarter. DB Fitzpatrick & Co Inc now owns 16,258 shares of the industrial products company's stock valued at $1,439,000 after buying an additional 142 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in Crown by 5.3% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,057 shares of the industrial products company's stock worth $282,000 after purchasing an additional 154 shares during the period. DekaBank Deutsche Girozentrale boosted its position in Crown by 1.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 13,715 shares of the industrial products company's stock worth $1,205,000 after purchasing an additional 180 shares during the period. Treasurer of the State of North Carolina boosted its position in Crown by 0.4% during the third quarter. Treasurer of the State of North Carolina now owns 48,116 shares of the industrial products company's stock worth $4,257,000 after purchasing an additional 180 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in Crown by 2.7% during the third quarter. Commonwealth Equity Services LLC now owns 6,903 shares of the industrial products company's stock worth $611,000 after purchasing an additional 183 shares during the period. Institutional investors own 90.93% of the company's stock.

Crown Trading Up 1.0 %

Crown stock traded up $0.81 during mid-day trading on Friday, hitting $80.59. The stock had a trading volume of 1,903,829 shares, compared to its average volume of 935,029. The stock has a 50-day simple moving average of $77.43 and a two-hundred day simple moving average of $82.60. The stock has a market capitalization of $9.73 billion, a PE ratio of 21.43, a P/E/G ratio of 2.73 and a beta of 0.91. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $96.35. The company has a current ratio of 1.15, a quick ratio of 0.77 and a debt-to-equity ratio of 2.34.

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

Crown Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.25 dividend. This is a positive change from Crown's previous quarterly dividend of $0.24. The ex-dividend date was Wednesday, March 13th. This represents a $1.00 annualized dividend and a yield of 1.24%. Crown's dividend payout ratio is presently 26.60%.

Wall Street Analysts Forecast Growth

CCK has been the subject of a number of recent analyst reports. Wolfe Research initiated coverage on Crown in a research report on Friday, March 1st. They set an "outperform" rating and a $102.00 target price for the company. Wells Fargo & Company decreased their target price on Crown from $78.00 to $76.00 and set an "equal weight" rating for the company in a research report on Thursday, April 11th. Truist Financial reiterated a "hold" rating and set a $88.00 price target (down from $100.00) on shares of Crown in a report on Wednesday, March 27th. Robert W. Baird upgraded Crown from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $85.00 to $90.00 in a report on Tuesday, April 16th. Finally, Mizuho cut their price target on Crown from $105.00 to $96.00 and set a "buy" rating for the company in a report on Tuesday, February 6th. Four equities research 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 price target of $99.21.

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.