Envestnet Asset Management Inc. Has $6.28 Million Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Envestnet Asset Management Inc. cut its holdings in Crown Holdings, Inc. (NYSE:CCK) by 65.1% during the 4th quarter, HoldingsChannel reports. The fund owned 75,962 shares of the industrial products company’s stock after selling 141,942 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Crown were worth $6,281,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in Crown by 20.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 117 shares in the last quarter. TD Private Client Wealth LLC raised its position in shares of Crown by 4.6% in the 4th quarter. TD Private Client Wealth LLC now owns 2,864 shares of the industrial products company’s stock valued at $237,000 after buying an additional 125 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of Crown by 16.2% during the 4th quarter. Spire Wealth Management now owns 992 shares of the industrial products company’s stock worth $82,000 after acquiring an additional 138 shares during the period. Marshall & Sullivan Inc. WA boosted its position in shares of Crown by 0.3% during the 4th quarter. Marshall & Sullivan Inc. WA now owns 57,268 shares of the industrial products company’s stock worth $4,735,000 after acquiring an additional 155 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. increased its stake in Crown by 0.4% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 45,445 shares of the industrial products company’s stock valued at $3,758,000 after acquiring an additional 165 shares during the last quarter. 90.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CCK shares. UBS Group reduced their target price on Crown from $113.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Truist Financial lifted their target price on Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Wells Fargo & Company increased their target price on shares of Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Royal Bank of Canada upped their price objective on shares of Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Crown Stock Performance

Shares of Crown stock opened at $84.44 on Tuesday. The stock has a market cap of $9.88 billion, a price-to-earnings ratio of 23.72, a P/E/G ratio of 1.56 and a beta of 0.79. Crown Holdings, Inc. has a twelve month low of $70.84 and a twelve month high of $98.46. The company’s fifty day moving average is $87.21 and its 200 day moving average is $88.30. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88.

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

Crown Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were given a $0.26 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.23%. This is an increase from Crown’s previous quarterly dividend of $0.25. Crown’s payout ratio is 29.21%.

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.