Commerce Bank Sells 2,057 Shares of Crown Holdings, Inc. (NYSE:CCK)

Commerce Bank lessened its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 12.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 14,477 shares of the industrial products company’s stock after selling 2,057 shares during the period. Commerce Bank’s holdings in Crown were worth $1,197,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CCK. Farther Finance Advisors LLC grew its stake in shares of Crown by 160.0% during the 4th quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 256 shares during the period. GAMMA Investing LLC boosted its position in shares of Crown by 84.2% in the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 261 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Crown by 20.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 117 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of Crown by 48.6% during the 4th quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 269 shares during the period. Finally, Jones Financial Companies Lllp lifted its stake in shares of Crown by 325.1% during the 4th quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company’s stock valued at $70,000 after buying an additional 647 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on CCK shares. Truist Financial decreased their price target on Crown from $107.00 to $97.00 and set a “hold” rating on the stock in a report on Tuesday. Barclays decreased their target price on Crown from $112.00 to $109.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Bank of America dropped their price target on Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, January 6th. 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 report on Friday, February 7th. Finally, Morgan Stanley raised shares of Crown from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $109.00 to $105.00 in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $105.42.

Crown Trading Up 3.3 %

CCK opened at $86.97 on Wednesday. The stock has a 50-day moving average of $87.21 and a 200 day moving average of $88.30. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88. Crown Holdings, Inc. has a 12 month low of $70.84 and a 12 month high of $98.46. The firm has a market cap of $10.17 billion, a P/E ratio of 24.43, a P/E/G ratio of 1.56 and a beta of 0.79.

Crown (NYSE:CCK) last released its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share 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%. As a group, research analysts forecast that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Tuesday, March 18th. This is a positive change from Crown’s previous quarterly dividend of $0.25. 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.