Bank of Montreal Can Sells 95,968 Shares of Crown Holdings, Inc. (NYSE:CCK)

Bank of Montreal Can reduced its position in Crown Holdings, Inc. (NYSE:CCK) by 86.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,458 shares of the industrial products company’s stock after selling 95,968 shares during the period. Bank of Montreal Can’s holdings in Crown were worth $1,278,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its position in shares of Crown by 160.0% during the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $34,000 after buying an additional 256 shares during the last quarter. GAMMA Investing LLC grew its stake 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 acquiring an additional 261 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Crown by 20.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 117 shares during the period. Venturi Wealth Management LLC grew its position in Crown by 48.6% in the 4th quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company’s stock worth $68,000 after purchasing an additional 269 shares during the period. Finally, Jones Financial Companies Lllp raised its stake in 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 during the last quarter. 90.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CCK has been the subject of several research analyst reports. Bank of America cut their price objective on Crown from $107.00 to $101.00 and set a “buy” rating for the company in a report on Monday, January 6th. Truist Financial upped their price target on shares of Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Royal Bank of Canada increased their target price on Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Citigroup lifted their price objective on shares of Crown from $110.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Barclays cut their target price on shares of Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Crown has a consensus rating of “Moderate Buy” and an average price target of $106.00.

Crown Trading Up 1.1 %

CCK opened at $85.12 on Friday. Crown Holdings, Inc. has a 12 month low of $70.84 and a 12 month high of $98.46. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88. The stock has a 50-day moving average of $87.38 and a 200 day moving average of $88.52. The firm has a market cap of $9.96 billion, a P/E ratio of 23.91, a P/E/G ratio of 1.56 and a beta of 0.79.

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 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 disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were given a $0.26 dividend. This is a positive change from Crown’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Tuesday, March 18th. Crown’s dividend payout ratio 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.