Geode Capital Management LLC Sells 9,584 Shares of Crown Holdings, Inc. (NYSE:CCK)

Geode Capital Management LLC reduced its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 0.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,052,285 shares of the industrial products company’s stock after selling 9,584 shares during the period. Geode Capital Management LLC’s holdings in Crown were worth $169,416,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. grew its holdings in Crown by 1.8% during the 4th quarter. Victory Capital Management Inc. now owns 5,779,691 shares of the industrial products company’s stock worth $477,923,000 after acquiring an additional 102,789 shares during the last quarter. State Street Corp grew its stake in shares of Crown by 1.8% in the third quarter. State Street Corp now owns 4,000,402 shares of the industrial products company’s stock worth $383,559,000 after purchasing an additional 69,260 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Crown by 10,138.8% in the fourth quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company’s stock valued at $256,762,000 after purchasing an additional 3,074,791 shares during the period. Bank of New York Mellon Corp raised its position in Crown by 10.5% during the 4th quarter. Bank of New York Mellon Corp now owns 2,967,810 shares of the industrial products company’s stock worth $245,408,000 after purchasing an additional 283,014 shares during the last quarter. Finally, Metropolis Capital Ltd lifted its holdings in Crown by 68.7% during the 4th quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company’s stock worth $203,116,000 after buying an additional 1,000,605 shares during the period. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Stock Down 6.3 %

CCK stock opened at $83.10 on Monday. The stock’s 50 day simple moving average is $88.44 and its 200 day simple moving average is $89.32. The company has a market cap of $9.72 billion, a P/E ratio of 23.34, a price-to-earnings-growth ratio of 1.56 and a beta of 0.79. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22. Crown Holdings, Inc. has a fifty-two week low of $70.84 and a fifty-two week high of $98.46.

Crown (NYSE:CCK) last issued its 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%. On average, research analysts expect that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Increases Dividend

The firm also recently disclosed 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 is a boost from Crown’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Tuesday, March 18th. Crown’s dividend payout ratio (DPR) is currently 29.21%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CCK shares. Morgan Stanley raised Crown from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $109.00 to $105.00 in a research note on Monday, January 13th. UBS Group lowered 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. StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Royal Bank of Canada increased their price objective on shares of Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, Wells Fargo & Company boosted 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. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

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.