Rockefeller Capital Management L.P. Sells 7,539 Shares of Crown Holdings, Inc. (NYSE:CCK)

Rockefeller Capital Management L.P. decreased its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 5.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 130,194 shares of the industrial products company’s stock after selling 7,539 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Crown were worth $10,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Treasurer of the State of North Carolina increased its position in Crown by 0.4% during the fourth quarter. Treasurer of the State of North Carolina now owns 52,813 shares of the industrial products company’s stock worth $4,367,000 after acquiring an additional 230 shares during the period. Bessemer Group Inc. grew its position in shares of Crown by 0.4% during the 4th quarter. Bessemer Group Inc. now owns 34,061 shares of the industrial products company’s stock worth $2,816,000 after purchasing an additional 138 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Crown during the fourth quarter worth approximately $8,466,000. APG Asset Management N.V. raised its position in shares of Crown by 251.0% in the fourth quarter. APG Asset Management N.V. now owns 90,075 shares of the industrial products company’s stock valued at $7,193,000 after buying an additional 64,413 shares in the last quarter. Finally, Greenland Capital Management LP bought a new stake in shares of Crown in the fourth quarter valued at approximately $426,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

Analyst Ratings Changes

CCK has been the topic of a number of recent research reports. Mizuho lowered their price objective on Crown from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Bank of America cut their price objective on shares of Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company raised their target price on shares of Crown from $86.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. UBS Group cut their price target on shares of Crown from $113.00 to $108.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, Truist Financial increased 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. Two investment 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.com, Crown presently has an average rating of “Moderate Buy” and an average target price of $106.00.

Crown Trading Down 1.4 %

Shares of CCK stock opened at $84.83 on Wednesday. Crown Holdings, Inc. has a twelve month low of $70.84 and a twelve month high of $98.46. The stock’s fifty day simple moving average is $87.55 and its 200 day simple moving average is $88.65. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. The firm has a market capitalization of $9.92 billion, a P/E ratio of 23.83, 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, topping 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, sell-side analysts predict that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Tuesday, March 18th. This is a positive change from Crown’s previous quarterly dividend of $0.25. Crown’s 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.