Chesapeake Capital Corp IL Lowers Position in Crown Holdings, Inc. (NYSE:CCK)

Chesapeake Capital Corp IL trimmed its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 58.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,878 shares of the industrial products company’s stock after selling 6,839 shares during the period. Chesapeake Capital Corp IL’s holdings in Crown were worth $403,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its position in Crown by 160.0% during the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $34,000 after buying an additional 256 shares in the last quarter. Brooklyn Investment Group acquired a new position in Crown during the third quarter valued at approximately $44,000. GAMMA Investing LLC lifted its position in Crown by 84.2% during the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock valued at $47,000 after buying an additional 261 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in 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 valued at $57,000 after buying an additional 117 shares in the last quarter. Finally, True Wealth Design LLC lifted its position in Crown by 6,850.0% during the third quarter. True Wealth Design LLC now owns 695 shares of the industrial products company’s stock valued at $67,000 after buying an additional 685 shares in the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Crown Price Performance

Shares of CCK stock opened at $90.46 on Wednesday. The firm has a market cap of $10.63 billion, a P/E ratio of 25.41, a P/E/G ratio of 1.56 and a beta of 0.88. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.22 and a quick ratio of 0.80. Crown Holdings, Inc. has a 1-year low of $70.84 and a 1-year high of $98.46. The firm has a fifty day moving average of $87.31 and a two-hundred day moving average of $89.54.

Crown (NYSE:CCK) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.08. Crown had a net margin of 3.59% and a return on equity of 25.12%. As a group, research analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be given a $0.26 dividend. This is an increase from Crown’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Tuesday, March 18th. Crown’s dividend payout ratio (DPR) is presently 29.21%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Morgan Stanley raised shares of Crown from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $109.00 to $105.00 in a research report on Monday, January 13th. Royal Bank of Canada boosted their target price on shares of Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Wells Fargo & Company boosted their target price on shares of Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Finally, Mizuho reduced their target price on shares of Crown from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Crown currently has a consensus rating of “Moderate Buy” and an average target price of $106.00.

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.