Wellington Management Group LLP Grows Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Wellington Management Group LLP boosted its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 0.5% in the 4th quarter, HoldingsChannel reports. The fund owned 720,523 shares of the industrial products company’s stock after buying an additional 3,708 shares during the quarter. Wellington Management Group LLP’s holdings in Crown were worth $59,580,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CCK. Victory Capital Management Inc. raised its stake in shares of Crown by 1.8% during the fourth quarter. Victory Capital Management Inc. now owns 5,779,691 shares of the industrial products company’s stock valued at $477,923,000 after acquiring an additional 102,789 shares during the last quarter. State Street Corp raised its position in Crown by 1.8% during the 3rd quarter. State Street Corp now owns 4,000,402 shares of the industrial products company’s stock valued at $383,559,000 after purchasing an additional 69,260 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Crown by 10,138.8% in the 4th 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. Bank of New York Mellon Corp grew its position in shares of Crown by 10.5% in 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 buying an additional 283,014 shares during the last quarter. Finally, Metropolis Capital Ltd increased its stake in shares of Crown by 68.7% during the fourth quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company’s stock valued at $203,116,000 after buying an additional 1,000,605 shares during the period. 90.93% of the stock is currently owned by institutional investors.

Crown Price Performance

Shares of NYSE:CCK opened at $83.10 on Friday. The company has a market capitalization of $9.72 billion, a PE ratio of 23.34, a PEG ratio of 1.56 and a beta of 0.88. The business has a fifty day moving average price of $88.44 and a 200-day moving average price of $89.37. 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 results on Wednesday, February 5th. The industrial products company reported $1.59 EPS for the quarter, beating 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%. As a group, equities analysts expect that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Increases Dividend

The firm also recently declared 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 an increase 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 is presently 29.21%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Citigroup lifted their price target on shares of Crown from $110.00 to $111.00 and gave the company a “buy” rating in a report on Monday, January 6th. Royal Bank of Canada lifted their target price on shares of Crown from $113.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. UBS Group decreased their price target on shares of Crown from $113.00 to $108.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Wells Fargo & Company lifted their price objective on Crown from $86.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Finally, Bank of America lowered their target price on Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company 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.