Daiwa Securities Group Inc. Raises Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Posted by on May 6th, 2023

Daiwa Securities Group Inc. grew its holdings in Crown Holdings, Inc. (NYSE:CCK – Get Rating) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,572 shares of the industrial products company’s stock after acquiring an additional 200 shares during the period. Daiwa Securities Group Inc.’s holdings in Crown were worth $540,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Credit Suisse AG raised its stake 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 valued at $51,155,000 after acquiring an additional 5,163 shares during the period. Eads & Heald Wealth Management raised its stake in shares of Crown by 103.3% in 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 during the period. Creative Planning raised its stake in shares of Crown by 11.4% in 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 during the period. Barclays PLC raised its stake in shares of Crown by 102.6% in the 3rd quarter. Barclays PLC now owns 194,051 shares of the industrial products company’s stock valued at $15,723,000 after acquiring an additional 98,274 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of 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 acquiring an additional 368,424 shares during the period.

Crown Price Performance

Shares of NYSE CCK opened at $85.73 on Friday. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.30 and a quick ratio of 0.67. The firm has a market capitalization of $10.30 billion, a PE ratio of 16.88, a P/E/G ratio of 2.65 and a beta of 1.05. Crown Holdings, Inc. has a 1-year low of $66.00 and a 1-year high of $110.80. The business’s fifty day moving average price is $81.28 and its two-hundred day moving average price is $81.93.

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 for the quarter, topping analysts’ consensus estimates of $1.05 by $0.15. The business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.10 billion. Crown had a net margin of 4.81% and a return on equity of 31.41%. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.01 EPS. On average, research analysts expect that Crown Holdings, Inc. will post 6.28 EPS for the current year.

Crown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 25th. Investors of record on Thursday, May 11th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Wednesday, May 10th. Crown’s dividend payout ratio (DPR) is 18.90%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CCK shares. Barclays lifted their price target on shares of Crown from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, February 13th. Royal Bank of Canada lifted their price target on shares of Crown from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Friday, February 10th. Citigroup lifted their price target on shares of Crown from $103.00 to $104.00 in a research note on Thursday, April 27th. StockNews.com downgraded shares of Crown from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Mizuho boosted their target price on shares of Crown from $103.00 to $108.00 in a research report on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Crown presently has an average rating of “Moderate Buy” and an average target price 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.

See Also

Institutional Ownership by Quarter for Crown (NYSE:CCK)

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