Sumitomo Mitsui Trust Group Inc. Reduces Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Crown Holdings, Inc. (NYSE:CCK) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 244,588 shares of the industrial products company’s stock after selling 4,453 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.20% of Crown worth $20,225,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CCK. Tidal Investments LLC raised its position in shares of Crown by 121.3% during the third quarter. Tidal Investments LLC now owns 21,997 shares of the industrial products company’s stock valued at $2,109,000 after buying an additional 12,058 shares during the last quarter. Jensen Investment Management Inc. boosted its stake in Crown by 7.8% during the third quarter. Jensen Investment Management Inc. now owns 100,918 shares of the industrial products company’s stock worth $9,676,000 after buying an additional 7,280 shares during the period. Nordea Investment Management AB boosted its stake in Crown by 19.3% during the fourth quarter. Nordea Investment Management AB now owns 1,095,382 shares of the industrial products company’s stock worth $90,511,000 after buying an additional 176,959 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Crown by 7.8% during the third quarter. Victory Capital Management Inc. now owns 5,676,902 shares of the industrial products company’s stock valued at $544,301,000 after purchasing an additional 412,973 shares during the period. Finally, Natixis Advisors LLC boosted its stake in shares of Crown by 10.4% during the third quarter. Natixis Advisors LLC now owns 171,080 shares of the industrial products company’s stock valued at $16,403,000 after purchasing an additional 16,050 shares during the period. Institutional investors own 90.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CCK shares. Robert W. Baird lifted their price objective on Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Bank of America cut their price objective on shares of Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Citigroup upped their target price on Crown from $110.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Truist Financial upped their price objective on Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $105.69.

Crown Stock Down 1.4 %

NYSE CCK opened at $88.31 on Thursday. The business has a fifty day moving average price of $85.24 and a 200 day moving average price of $89.39. Crown Holdings, Inc. has a one year low of $70.84 and a one year high of $98.46. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.84 and a current ratio of 1.22. The company has a market cap of $10.56 billion, a P/E ratio of 24.81, a P/E/G ratio of 1.68 and a beta of 0.87.

Crown (NYSE:CCK) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 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%. Research analysts anticipate that Crown Holdings, Inc. will post 6.83 EPS for the current fiscal year.

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.