Sequoia Financial Advisors LLC Takes Position in Crown Holdings, Inc. (NYSE:CCK)

Sequoia Financial Advisors LLC purchased a new stake in shares of Crown Holdings, Inc. (NYSE:CCK) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,508 shares of the industrial products company’s stock, valued at approximately $231,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BluePath Capital Management LLC bought a new position in Crown in the third quarter valued at about $25,000. Sound Income Strategies LLC bought a new position in Crown in the fourth quarter valued at about $26,000. Quarry LP bought a new position in Crown in the first quarter valued at about $58,000. UniSuper Management Pty Ltd bought a new position in Crown in the second quarter valued at about $78,000. Finally, TFC Financial Management Inc. lifted its holdings in Crown by 23,000.0% in the third quarter. TFC Financial Management Inc. now owns 924 shares of the industrial products company’s stock valued at $82,000 after acquiring an additional 920 shares during the period. 90.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wells Fargo & Company lowered their target price on Crown from $78.00 to $76.00 and set an “equal weight” rating on the stock in a report on Thursday, April 11th. Royal Bank of Canada lowered their target price on Crown from $110.00 to $97.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. JPMorgan Chase & Co. upgraded Crown from a “neutral” rating to an “overweight” rating and set a $85.00 price target for the company in a research report on Wednesday, February 7th. UBS Group initiated coverage on Crown in a research report on Tuesday, January 16th. They issued a “buy” rating and a $112.00 price target for the company. Finally, Wolfe Research initiated coverage on Crown in a research report on Friday, March 1st. They issued an “outperform” rating and a $102.00 price target for the company. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $99.21.

Crown Stock Performance

NYSE:CCK opened at $77.64 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.77 and a debt-to-equity ratio of 2.34. Crown Holdings, Inc. has a 12-month low of $69.61 and a 12-month high of $96.35. The stock has a 50-day moving average price of $76.82 and a 200 day moving average price of $82.81. The stock has a market capitalization of $9.38 billion, a P/E ratio of 20.65, a P/E/G ratio of 2.59 and a beta of 0.91.

Crown (NYSE:CCK) last released its earnings results on Tuesday, February 6th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.19). Crown had a return on equity of 25.75% and a net margin of 3.75%. The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the prior year, the business posted $1.17 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. Equities research analysts forecast that Crown Holdings, Inc. will post 5.91 EPS for the current fiscal year.

Crown Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.29%. The ex-dividend date was Wednesday, March 13th. This is a boost from Crown’s previous quarterly dividend of $0.24. Crown’s dividend payout ratio (DPR) is currently 26.60%.

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.