Comerica Bank Has $5 Million Position in Crown Holdings, Inc. (NYSE:CCK)

Comerica Bank raised its position in Crown Holdings, Inc. (NYSE:CCK) by 2.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 60,476 shares of the industrial products company’s stock after purchasing an additional 1,703 shares during the period. Comerica Bank’s holdings in Crown were worth $5,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC increased its position in Crown by 160.0% during the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 256 shares during the period. GAMMA Investing LLC grew its position in shares of Crown by 84.2% during the 4th quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 261 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of 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 purchasing an additional 117 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Crown by 48.6% during the fourth quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company’s stock worth $68,000 after purchasing an additional 269 shares during the period. Finally, Jones Financial Companies Lllp raised its position in shares of Crown by 325.1% in the fourth quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company’s stock valued at $70,000 after buying an additional 647 shares in the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CCK. Truist Financial lowered their price objective on Crown from $107.00 to $97.00 and set a “hold” rating on the stock in a research note on Tuesday, April 22nd. Bank of America cut their price objective on shares of Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Barclays raised their target price on shares of Crown from $109.00 to $117.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Mizuho upped their price target on shares of Crown from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, April 29th. Finally, Wells Fargo & Company increased their price target on shares of Crown from $89.00 to $101.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $110.45.

Crown Stock Performance

Shares of CCK stock opened at $97.26 on Tuesday. The business’s 50-day moving average price is $88.12 and its 200-day moving average price is $88.24. Crown Holdings, Inc. has a 12 month low of $70.84 and a 12 month high of $98.48. 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 firm has a market capitalization of $11.38 billion, a price-to-earnings ratio of 27.32, a PEG ratio of 1.56 and a beta of 0.79.

Crown (NYSE:CCK) last posted its earnings results on Monday, April 28th. The industrial products company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.22 by $0.45. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.82 billion. Crown had a net margin of 3.59% and a return on equity of 25.12%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company earned $1.02 EPS. Equities research analysts forecast that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Thursday, May 15th. Crown’s dividend payout ratio is currently 22.37%.

Insiders Place Their Bets

In other news, COO Gerard H. Gifford sold 7,000 shares of the company’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $97.00, for a total value of $679,000.00. Following the sale, the chief operating officer now directly owns 135,014 shares of the company’s stock, valued at approximately $13,096,358. This represents a 4.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.90% of the company’s stock.

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.