Gabelli Funds LLC Sells 2,700 Shares of Crown Holdings, Inc. (NYSE:CCK)

Gabelli Funds LLC lowered its holdings in Crown Holdings, Inc. (NYSE:CCK) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 126,504 shares of the industrial products company’s stock after selling 2,700 shares during the period. Gabelli Funds LLC’s holdings in Crown were worth $10,461,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Jump Financial LLC purchased a new stake in Crown in the fourth quarter worth $243,000. Reynders McVeigh Capital Management LLC raised its stake in Crown by 2.1% in the 4th quarter. Reynders McVeigh Capital Management LLC now owns 306,949 shares of the industrial products company’s stock valued at $25,382,000 after acquiring an additional 6,204 shares during the period. Treasurer of the State of North Carolina lifted its holdings 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 valued at $4,367,000 after purchasing an additional 230 shares during the last quarter. Bessemer Group Inc. boosted its position in Crown by 0.4% during the fourth 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 during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Crown in the fourth quarter valued at approximately $8,466,000. Institutional investors own 90.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CCK. Citigroup raised their price objective on shares of Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Royal Bank of Canada boosted their price objective on Crown from $113.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Truist Financial raised their target price on Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Finally, Bank of America lowered their price target on shares of Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $106.00.

Crown Trading Down 0.6 %

Shares of Crown stock opened at $84.32 on Thursday. The company has a 50 day simple moving average of $87.50 and a two-hundred day simple moving average of $88.62. The firm has a market cap of $9.86 billion, a PE ratio of 23.69, a PEG ratio of 1.56 and a beta of 0.79. Crown Holdings, Inc. has a 1 year low of $70.84 and a 1 year high of $98.46. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.22 and a quick ratio of 0.80.

Crown (NYSE:CCK) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.08. Crown had a net margin of 3.59% and a return on equity of 25.12%. Analysts expect that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal 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 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%. This is a boost from Crown’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, March 18th. Crown’s dividend payout ratio (DPR) is currently 29.21%.

About Crown

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.