Harvest Fund Management Co. Ltd Boosts Holdings in Crown Holdings, Inc. (NYSE:CCK)

Harvest Fund Management Co. Ltd increased its position in Crown Holdings, Inc. (NYSE:CCK) by 6,322.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,734 shares of the industrial products company’s stock after buying an additional 1,707 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Crown were worth $143,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. FMR LLC increased its stake in shares of Crown by 9.3% in the third quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock worth $842,556,000 after buying an additional 749,085 shares during the period. Victory Capital Management Inc. increased its stake in shares of Crown by 1.8% in the fourth quarter. Victory Capital Management Inc. now owns 5,779,691 shares of the industrial products company’s stock worth $477,923,000 after buying an additional 102,789 shares during the period. State Street Corp increased 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 buying an additional 69,260 shares during the period. Pacer Advisors Inc. increased its stake in shares of 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 worth $256,762,000 after buying an additional 3,074,791 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Crown by 10.5% in the fourth 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 buying an additional 283,014 shares during the period. 90.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Royal Bank of Canada boosted their price objective on shares of Crown from $113.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Citigroup boosted their price objective on shares of Crown from $110.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Truist Financial boosted their price objective on shares of Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Finally, UBS Group reduced their price objective on shares of Crown from $113.00 to $108.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $106.00.

Crown Stock Performance

Shares of CCK stock opened at $87.39 on Friday. Crown Holdings, Inc. has a 12 month low of $70.84 and a 12 month high of $98.46. The stock has a market cap of $10.27 billion, a PE ratio of 24.55, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88. 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 fifty day moving average price is $87.90 and its 200-day moving average price is $89.52.

Crown (NYSE:CCK) last announced its quarterly earnings results 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%. On average, equities analysts expect that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Increases Dividend

The company 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. This is a boost from Crown’s previous quarterly dividend of $0.25. 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 1.19%. Crown’s payout ratio is presently 29.21%.

Crown Company 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.