Crown Holdings, Inc. (NYSE:CCK) Stock Position Reduced by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC decreased its stake in Crown Holdings, Inc. (NYSE:CCK) by 27.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,155 shares of the industrial products company’s stock after selling 1,945 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Crown were worth $475,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CCK. BluePath Capital Management LLC acquired a new position in shares of Crown in the third quarter worth $25,000. Sound Income Strategies LLC purchased a new stake in shares of Crown during the 4th quarter worth about $26,000. TFC Financial Management Inc. lifted its holdings in shares of Crown by 23,000.0% during the 3rd quarter. TFC Financial Management Inc. now owns 924 shares of the industrial products company’s stock valued at $82,000 after buying an additional 920 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Crown by 46.0% in the 3rd quarter. Fifth Third Bancorp now owns 1,009 shares of the industrial products company’s stock valued at $89,000 after buying an additional 318 shares in the last quarter. Finally, Picton Mahoney Asset Management increased its holdings in Crown by 53.9% in the third quarter. Picton Mahoney Asset Management now owns 1,036 shares of the industrial products company’s stock worth $92,000 after buying an additional 363 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Crown Stock Performance

Shares of NYSE CCK opened at $79.42 on Tuesday. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $96.35. The company has a market cap of $9.59 billion, a P/E ratio of 21.12, a P/E/G ratio of 2.63 and a beta of 0.91. The business’s 50 day moving average is $76.82 and its two-hundred day moving average is $82.75. The company has a quick ratio of 0.77, a current ratio of 1.15 and a debt-to-equity ratio of 2.34.

Crown (NYSE:CCK) last announced its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.19). The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.96 billion. Crown had a return on equity of 25.75% and a net margin of 3.75%. The company’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.17 EPS. On average, equities analysts expect that Crown Holdings, Inc. will post 5.9 EPS for the current year.

Crown Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend was Wednesday, March 13th. This is a boost from Crown’s previous quarterly dividend of $0.24. Crown’s dividend payout ratio (DPR) is presently 26.60%.

Analyst Ratings Changes

A number of analysts have issued reports on CCK shares. Morgan Stanley initiated coverage on shares of Crown in a research report on Monday, March 18th. They issued an “equal weight” rating and a $87.00 target price for the company. Truist Financial reaffirmed a “hold” rating and issued a $88.00 price objective (down previously from $100.00) on shares of Crown in a research note on Wednesday, March 27th. JPMorgan Chase & Co. raised shares of Crown from a “neutral” rating to an “overweight” rating and set a $85.00 target price on the stock in a research report on Wednesday, February 7th. Mizuho reduced their price target on Crown from $105.00 to $96.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Finally, UBS Group started coverage on Crown in a report on Tuesday, January 16th. They set a “buy” rating and a $112.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.21.

About Crown

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.