Harvest Fund Management Co. Ltd Boosts Holdings in Crown Holdings, Inc. (NYSE:CCK)

Harvest Fund Management Co. Ltd increased its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 6,322.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,734 shares of the industrial products company’s stock after buying an additional 1,707 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Crown were worth $143,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CCK. Pacer Advisors Inc. increased its holdings in Crown by 10,138.8% during the fourth quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company’s stock worth $256,762,000 after buying an additional 3,074,791 shares during the last quarter. Metropolis Capital Ltd increased its stake in shares of Crown by 68.7% in the fourth quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company’s stock worth $203,116,000 after purchasing an additional 1,000,605 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in shares of Crown in the fourth quarter worth about $66,732,000. FMR LLC increased its stake in shares of Crown by 9.3% in the third quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock worth $842,556,000 after purchasing an additional 749,085 shares in the last quarter. Finally, Swedbank AB increased its stake in shares of Crown by 379.3% in the fourth quarter. Swedbank AB now owns 687,748 shares of the industrial products company’s stock worth $56,870,000 after purchasing an additional 544,246 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CCK shares. Barclays reduced their target price on shares of Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Truist Financial lifted their target price on shares of Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. Wells Fargo & Company raised their price objective on shares of Crown from $86.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Royal Bank of Canada raised their price objective on shares of Crown from $113.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Mizuho cut their price objective on shares of Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

Crown Trading Down 3.1 %

Shares of Crown stock opened at $87.39 on Friday. Crown Holdings, Inc. has a 1 year low of $70.84 and a 1 year high of $98.46. The firm has a market cap of $10.27 billion, a PE ratio of 24.55, a PEG 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. The company has a 50 day simple moving average of $87.90 and a two-hundred day simple moving average of $89.52.

Crown (NYSE:CCK) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, beating 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%. Analysts expect 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. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.26 per share. The ex-dividend date is Tuesday, March 18th. This is an increase from Crown’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 1.19%. Crown’s dividend payout ratio (DPR) is 29.21%.

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.