NewEdge Advisors LLC Purchases 4,757 Shares of Crown Holdings, Inc. (NYSE:CCK)

NewEdge Advisors LLC grew its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 588.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,566 shares of the industrial products company’s stock after purchasing an additional 4,757 shares during the period. NewEdge Advisors LLC’s holdings in Crown were worth $460,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CCK. Tidal Investments LLC raised its position in Crown by 121.3% during the 3rd quarter. Tidal Investments LLC now owns 21,997 shares of the industrial products company’s stock valued at $2,109,000 after purchasing an additional 12,058 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Crown by 19.3% during the 4th quarter. Nordea Investment Management AB now owns 1,095,382 shares of the industrial products company’s stock valued at $90,511,000 after buying an additional 176,959 shares in the last quarter. Metropolis Capital Ltd boosted its holdings in shares of Crown by 68.7% during the 4th quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company’s stock valued at $203,116,000 after buying an additional 1,000,605 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Crown by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 812,474 shares of the industrial products company’s stock valued at $67,183,000 after buying an additional 8,739 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Crown during the 3rd quarter valued at $861,000. Institutional investors own 90.93% of the company’s stock.

Crown Price Performance

CCK stock opened at $89.88 on Tuesday. The business has a 50 day moving average price of $87.22 and a 200 day moving average price of $88.17. The stock has a market cap of $10.51 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 1.56 and a beta of 0.79. Crown Holdings, Inc. has a fifty-two week low of $70.84 and a fifty-two week high of $98.46. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88.

Crown (NYSE:CCK) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.08. Crown had a return on equity of 25.12% and a net margin of 3.59%. Equities 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 disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Tuesday, March 18th. This is a positive change from Crown’s previous quarterly dividend of $0.25. Crown’s dividend payout ratio is currently 29.21%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barclays lowered their price target on Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Truist Financial decreased their target price on Crown from $107.00 to $97.00 and set a “hold” rating for the company in a research report on Tuesday, April 22nd. StockNews.com raised Crown from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. 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, Morgan Stanley raised Crown from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $109.00 to $105.00 in a research report on Monday, January 13th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Crown has an average rating of “Moderate Buy” and an average price target of $105.42.

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.