Strategic Financial Concepts LLC Acquires New Stake in Crown Holdings, Inc. (NYSE:CCK)

Strategic Financial Concepts LLC bought a new position in Crown Holdings, Inc. (NYSE:CCK) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,223 shares of the industrial products company’s stock, valued at approximately $1,176,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CCK. FMR LLC raised its holdings in shares of Crown by 9.3% in the 3rd quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock worth $842,556,000 after purchasing an additional 749,085 shares in the last quarter. Victory Capital Management Inc. grew its position in Crown by 7.8% in the third quarter. Victory Capital Management Inc. now owns 5,676,902 shares of the industrial products company’s stock worth $544,301,000 after buying an additional 412,973 shares during the last quarter. State Street Corp lifted its position in shares of 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 acquiring an additional 69,260 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Crown by 10,138.8% during the 4th quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company’s stock worth $256,762,000 after acquiring an additional 3,074,791 shares in the last quarter. Finally, Metropolis Capital Ltd grew its holdings in shares of Crown by 68.7% in the 4th quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company’s stock worth $203,116,000 after acquiring an additional 1,000,605 shares during the last quarter. 90.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Bank of America decreased their price target on Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, January 6th. 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. Barclays dropped their target price on shares of Crown from $112.00 to $109.00 and set an “overweight” rating on the stock in a research report on Monday. Loop Capital raised their price objective on shares of Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, UBS Group cut their target price on shares of Crown from $113.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $105.69.

Crown Trading Up 1.7 %

Shares of NYSE CCK opened at $89.66 on Wednesday. The business has a 50 day simple moving average of $85.31 and a 200 day simple moving average of $89.40. Crown Holdings, Inc. has a 52 week low of $70.84 and a 52 week high of $98.46. The stock has a market cap of $10.73 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 1.68 and a beta of 0.87. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.84 and a current ratio of 1.22.

Crown (NYSE:CCK) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.51 by $0.08. Crown had a net margin of 3.59% and a return on equity of 25.12%. On average, research analysts predict that Crown Holdings, Inc. will post 6.83 earnings per share for the current fiscal year.

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.