Zurcher Kantonalbank Zurich Cantonalbank Reduces Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

Zurcher Kantonalbank Zurich Cantonalbank cut its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 21.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,688 shares of the industrial products company’s stock after selling 17,672 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.05% of Crown worth $5,349,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. FMR LLC increased its stake in Crown by 9.3% during the third quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock worth $842,556,000 after acquiring an additional 749,085 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Crown by 1.8% in the 4th quarter. Victory Capital Management Inc. now owns 5,779,691 shares of the industrial products company’s stock valued at $477,923,000 after buying an additional 102,789 shares during the period. State Street Corp lifted its position in Crown by 1.8% in the third quarter. State Street Corp now owns 4,000,402 shares of the industrial products company’s stock valued at $383,559,000 after buying an additional 69,260 shares during the last quarter. Pacer Advisors Inc. boosted its stake 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 period. Finally, Bank of New York Mellon Corp increased its position in shares of Crown by 10.5% during the fourth quarter. Bank of New York Mellon Corp now owns 2,967,810 shares of the industrial products company’s stock valued at $245,408,000 after acquiring an additional 283,014 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Crown Stock Up 2.2 %

CCK stock opened at $89.01 on Friday. Crown Holdings, Inc. has a fifty-two week low of $70.84 and a fifty-two week high of $98.46. The company’s 50 day moving average price is $86.74 and its 200 day moving average price is $89.54. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22. The firm has a market capitalization of $10.46 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 1.56 and a beta of 0.88.

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

Crown Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.26 per share. This is a boost from Crown’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Tuesday, March 18th. Crown’s dividend payout ratio is currently 29.21%.

Wall Street Analyst Weigh In

CCK has been the topic of several recent analyst reports. UBS Group decreased their price objective on shares of Crown from $113.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Morgan Stanley upgraded Crown from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $109.00 to $105.00 in a research note on Monday, January 13th. StockNews.com raised Crown from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Bank of America decreased their target price on Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Mizuho dropped their target price on Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

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.