Amundi Purchases 328,825 Shares of Crown Holdings, Inc. (NYSE:CCK)

Amundi lifted its position in Crown Holdings, Inc. (NYSE:CCK) by 67.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 818,361 shares of the industrial products company’s stock after acquiring an additional 328,825 shares during the quarter. Amundi’s holdings in Crown were worth $65,637,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Covestor Ltd increased its stake in Crown by 156.5% in the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $44,000 after buying an additional 277 shares during the period. Brooklyn Investment Group purchased a new position in Crown in the 3rd quarter worth about $44,000. GAMMA Investing LLC increased its stake in Crown by 84.2% in the 4th quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock worth $47,000 after buying an additional 261 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Crown by 20.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock worth $57,000 after buying an additional 117 shares during the period. Finally, True Wealth Design LLC increased its stake in Crown by 6,850.0% in the 3rd quarter. True Wealth Design LLC now owns 695 shares of the industrial products company’s stock worth $67,000 after buying an additional 685 shares during the period. Institutional investors own 90.93% of the company’s stock.

Analysts Set New Price Targets

CCK has been the topic of several recent analyst reports. Barclays reduced their price target on shares of Crown from $112.00 to $109.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. UBS Group reduced their price target on shares of Crown from $113.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company raised their price target on shares of Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Truist Financial raised their target price on shares of Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research report on Monday, January 6th. 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 report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $106.00.

Crown Stock Down 2.0 %

NYSE:CCK opened at $89.40 on Wednesday. Crown Holdings, Inc. has a fifty-two week low of $70.84 and a fifty-two week high of $98.46. The stock has a market capitalization of $10.51 billion, a P/E ratio of 25.11, a P/E/G ratio of 1.56 and a beta of 0.88. 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 company’s 50-day simple moving average is $86.37 and its 200-day simple moving average is $89.56.

Crown (NYSE:CCK) last released its quarterly earnings results 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 net margin of 3.59% and a return on equity of 25.12%. On average, equities analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be issued a $0.26 dividend. This is a boost from Crown’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Tuesday, March 18th. Crown’s dividend payout ratio (DPR) is currently 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.