Crown Holdings, Inc. (NYSE:CCK) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its stake in Crown Holdings, Inc. (NYSE:CCK) by 0.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,809 shares of the industrial products company’s stock after selling 194 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Crown were worth $2,300,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. LBP AM SA raised its holdings in Crown by 52.0% during the 4th quarter. LBP AM SA now owns 55,481 shares of the industrial products company’s stock worth $4,588,000 after buying an additional 18,992 shares during the period. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Crown during the fourth quarter valued at approximately $66,732,000. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Crown by 100.1% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 59,562 shares of the industrial products company’s stock valued at $4,878,000 after acquiring an additional 29,800 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Crown in the 4th quarter worth approximately $2,013,000. Finally, Farther Finance Advisors LLC grew its position in Crown by 160.0% during the 4th quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 256 shares in the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on CCK. Bank of America decreased their target price on Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, January 6th. StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Barclays dropped their target price on Crown from $112.00 to $109.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Royal Bank of Canada raised their price target on shares of Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Truist Financial upped their price objective on shares of Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $106.00.

Crown Price Performance

Shares of Crown stock opened at $88.19 on Friday. Crown Holdings, Inc. has a 1-year low of $70.84 and a 1-year high of $98.46. The firm has a fifty day simple moving average of $88.32 and a 200-day simple moving average of $89.45. 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 stock has a market capitalization of $10.31 billion, a price-to-earnings ratio of 24.77, a PEG ratio of 1.56 and a beta of 0.88.

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

Crown Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, March 18th. This is a boost from Crown’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.18%. Crown’s payout ratio is currently 29.21%.

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.