Crown Holdings, Inc. (NYSE:CCK) Position Cut by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL trimmed its stake in Crown Holdings, Inc. (NYSE:CCK) by 58.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,878 shares of the industrial products company’s stock after selling 6,839 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Crown were worth $403,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in CCK. Metis Global Partners LLC bought a new stake in Crown in the third quarter valued at $494,000. CIBC Asset Management Inc lifted its stake in Crown by 5.5% in the third quarter. CIBC Asset Management Inc now owns 4,304 shares of the industrial products company’s stock valued at $413,000 after buying an additional 225 shares during the last quarter. Natixis Advisors LLC lifted its stake in Crown by 10.4% in the third quarter. Natixis Advisors LLC now owns 171,080 shares of the industrial products company’s stock valued at $16,403,000 after buying an additional 16,050 shares during the last quarter. Claro Advisors LLC bought a new stake in Crown in the third quarter valued at $266,000. Finally, Quest Partners LLC lifted its stake in Crown by 3,676.8% in the third quarter. Quest Partners LLC now owns 9,593 shares of the industrial products company’s stock valued at $920,000 after buying an additional 9,339 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CCK shares. 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 note on Monday, January 6th. 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 research note on Monday, January 6th. Royal Bank of Canada lifted their price objective on shares of Crown from $113.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Barclays cut their price objective on shares of Crown from $112.00 to $109.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Finally, Morgan Stanley upgraded shares of Crown from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $109.00 to $105.00 in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Crown currently has an average rating of “Moderate Buy” and an average target price of $106.00.

Crown Price Performance

Shares of Crown stock opened at $90.46 on Wednesday. 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 company’s 50-day moving average price is $87.31 and its two-hundred day moving average price is $89.54. Crown Holdings, Inc. has a 52 week low of $70.84 and a 52 week high of $98.46. The stock has a market cap of $10.63 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88.

Crown (NYSE:CCK) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates 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, sell-side analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.04 dividend on an annualized basis and a yield of 1.15%. This is a boost from Crown’s previous quarterly dividend of $0.25. Crown’s dividend payout ratio (DPR) is currently 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.