Venturi Wealth Management LLC Increases Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Venturi Wealth Management LLC increased its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 48.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 823 shares of the industrial products company’s stock after buying an additional 269 shares during the period. Venturi Wealth Management LLC’s holdings in Crown were worth $68,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in CCK. Pacer Advisors Inc. boosted its holdings in Crown by 10,138.8% during 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 in the last quarter. Metropolis Capital Ltd lifted its holdings in 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 purchasing an additional 1,000,605 shares in the last quarter. Jennison Associates LLC lifted its holdings in Crown by 125.0% during the third quarter. Jennison Associates LLC now owns 1,352,711 shares of the industrial products company’s stock valued at $129,698,000 after purchasing an additional 751,530 shares in the last quarter. FMR LLC lifted its holdings in Crown by 9.3% during the third quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock valued at $842,556,000 after purchasing an additional 749,085 shares in the last quarter. Finally, Swedbank AB lifted its holdings in Crown by 379.3% during the fourth quarter. Swedbank AB now owns 687,748 shares of the industrial products company’s stock valued at $56,870,000 after purchasing an additional 544,246 shares in the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on CCK shares. Truist Financial increased their price objective on shares of Crown from $103.00 to $104.00 and gave the company a “hold” rating in a report on Monday, January 6th. Barclays decreased their price objective on shares of Crown from $112.00 to $109.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Morgan Stanley raised shares of Crown from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $109.00 to $105.00 in a report on Monday, January 13th. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company increased their target price on shares of Crown from $86.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Crown presently has a consensus rating of “Moderate Buy” and an average target price of $105.69.

Crown Price Performance

Shares of CCK stock opened at $86.86 on Tuesday. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.22 and a quick ratio of 0.80. The firm’s 50-day moving average is $85.26 and its two-hundred day moving average is $89.48. Crown Holdings, Inc. has a 12 month low of $70.84 and a 12 month high of $98.46. The company has a market capitalization of $10.39 billion, a PE ratio of 24.40, a price-to-earnings-growth ratio of 1.56 and a beta of 0.87.

Crown (NYSE:CCK) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 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%. Analysts predict that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

About Crown

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.