Crown Holdings, Inc. (NYSE:CCK) Shares Sold by Handelsbanken Fonder AB

Posted by on May 5th, 2023

Handelsbanken Fonder AB cut its stake in shares of Crown Holdings, Inc. (NYSE:CCK – Get Rating) by 95.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,000 shares of the industrial products company’s stock after selling 390,800 shares during the period. Handelsbanken Fonder AB’s holdings in Crown were worth $1,562,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Credit Suisse AG raised its holdings in shares of Crown by 0.8% in the 3rd quarter. Credit Suisse AG now owns 631,319 shares of the industrial products company’s stock worth $51,155,000 after purchasing an additional 5,163 shares during the period. Eads & Heald Wealth Management lifted its holdings in shares of Crown by 103.3% during the 4th quarter. Eads & Heald Wealth Management now owns 9,389 shares of the industrial products company’s stock valued at $772,000 after acquiring an additional 4,770 shares in the last quarter. Creative Planning lifted its holdings in shares of Crown by 11.4% during the 3rd quarter. Creative Planning now owns 6,228 shares of the industrial products company’s stock valued at $505,000 after acquiring an additional 638 shares in the last quarter. Barclays PLC boosted its position in Crown by 102.6% during the 3rd quarter. Barclays PLC now owns 194,051 shares of the industrial products company’s stock worth $15,723,000 after purchasing an additional 98,274 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Crown by 30.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,580,291 shares of the industrial products company’s stock valued at $128,050,000 after purchasing an additional 368,424 shares in the last quarter.

Crown Stock Performance

Shares of CCK stock opened at $84.80 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.18 and a debt-to-equity ratio of 2.97. The business has a 50 day moving average of $81.28 and a two-hundred day moving average of $81.91. The company has a market cap of $10.18 billion, a P/E ratio of 16.69, a PEG ratio of 2.70 and a beta of 1.05. Crown Holdings, Inc. has a 52 week low of $66.00 and a 52 week high of $113.99.

Crown (NYSE:CCK – Get Rating) last released its quarterly earnings data on Monday, April 24th. The industrial products company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.15. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.10 billion. Crown had a return on equity of 32.40% and a net margin of 4.81%. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.01 EPS. As a group, analysts anticipate that Crown Holdings, Inc. will post 6.28 EPS for the current year.

Crown Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 25th. Investors of record on Thursday, May 11th will be given a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, May 10th. This represents a $0.96 annualized dividend and a yield of 1.13%. Crown’s dividend payout ratio is presently 18.90%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CCK. Citigroup upped their target price on Crown from $103.00 to $104.00 in a research report on Thursday, April 27th. Morgan Stanley lowered their target price on Crown from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 10th. Royal Bank of Canada boosted their price target on Crown from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Friday, February 10th. TheStreet upgraded Crown from a “c” rating to a “b-” rating in a research note on Wednesday, February 8th. Finally, Mizuho upped their price target on shares of Crown from $103.00 to $108.00 in a report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $97.60.

About Crown

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Crown Holdings, Inc engages in the design, manufacture, and sale of packaging products and equipment for consumer goods. The firm offers aerosol cans, beverage, promotional, and transit packaging, closures and capping, and food cans. It operates through the following segments: Americas, Europe, Asia Pacific, and Transit Packaging.

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Institutional Ownership by Quarter for Crown (NYSE:CCK)

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