PNC Financial Services Group Inc. Cuts Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

PNC Financial Services Group Inc. decreased its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 11.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,473 shares of the industrial products company’s stock after selling 3,131 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Crown were worth $1,941,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Machina Capital S.A.S. purchased a new position in shares of Crown during the fourth quarter worth about $499,000. Jackson Creek Investment Advisors LLC grew its holdings in shares of Crown by 7.7% during the fourth quarter. Jackson Creek Investment Advisors LLC now owns 6,165 shares of the industrial products company’s stock worth $510,000 after purchasing an additional 441 shares in the last quarter. Carmel Capital Partners LLC lifted its position in Crown by 3.7% in the 4th quarter. Carmel Capital Partners LLC now owns 17,782 shares of the industrial products company’s stock worth $1,470,000 after buying an additional 632 shares during the last quarter. Inceptionr LLC bought a new stake in Crown in the 4th quarter worth approximately $1,959,000. Finally, Raymond James Financial Inc. bought a new stake in Crown in the 4th quarter worth approximately $8,466,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Analyst Ratings Changes

CCK has been the subject of a number of recent research reports. Royal Bank of Canada boosted their target price on Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. 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. Barclays dropped their target price on Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Citigroup boosted their target price on Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, UBS Group lowered their price objective on Crown from $113.00 to $108.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Crown currently has an average rating of “Moderate Buy” and a consensus price target of $106.00.

Crown Price Performance

CCK opened at $89.01 on Friday. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22. Crown Holdings, Inc. has a 52-week low of $70.84 and a 52-week high of $98.46. The stock has a market capitalization of $10.46 billion, a PE ratio of 25.00, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88. The stock’s 50 day moving average price is $86.74 and its 200-day moving average price is $89.54.

Crown (NYSE:CCK) last posted 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 return on equity of 25.12% and a net margin of 3.59%. On average, equities research analysts predict that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 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%. Crown’s payout ratio 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.