Pictet Asset Management Holding SA Has $4.85 Million Stake in Crown Holdings, Inc. (NYSE:CCK)

Pictet Asset Management Holding SA reduced its stake in Crown Holdings, Inc. (NYSE:CCK) by 2.9% in the 4th quarter, Holdings Channel reports. The firm owned 58,595 shares of the industrial products company’s stock after selling 1,743 shares during the period. Pictet Asset Management Holding SA’s holdings in Crown were worth $4,845,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its position in shares of Crown by 160.0% in the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 256 shares during the period. GAMMA Investing LLC raised its holdings in Crown by 84.2% in the 4th quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 261 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Crown by 20.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock worth $57,000 after acquiring an additional 117 shares during the last quarter. Venturi Wealth Management LLC lifted its position in Crown by 48.6% during the 4th quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company’s stock worth $68,000 after acquiring an additional 269 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in Crown by 325.1% during the fourth quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company’s stock valued at $70,000 after acquiring an additional 647 shares during the period. Institutional investors own 90.93% of the company’s stock.

Crown Price Performance

Shares of CCK stock opened at $88.56 on Friday. The firm has a market cap of $10.36 billion, a price-to-earnings ratio of 24.88, a PEG ratio of 1.56 and a beta of 0.88. Crown Holdings, Inc. has a 12 month low of $70.84 and a 12 month high of $98.46. 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 stock has a 50-day moving average price of $88.53 and a 200 day moving average price of $89.43.

Crown (NYSE:CCK) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.51 by $0.08. Crown had a net margin of 3.59% and a return on equity of 25.12%. Research analysts expect that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were given a $0.26 dividend. This is a positive change from Crown’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 1.17%. The ex-dividend date was Tuesday, March 18th. Crown’s dividend payout ratio (DPR) is currently 29.21%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CCK shares. Wells Fargo & Company lifted their price target on Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Barclays reduced their target price on shares of Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Royal Bank of Canada boosted their price target on Crown from $113.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. StockNews.com raised Crown from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Finally, UBS Group cut their target price on Crown from $113.00 to $108.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Crown presently has an average rating of “Moderate Buy” and an average price target 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.