TIAA Trust National Association Trims Stock Position in Crown Holdings, Inc. (NYSE:CCK)

TIAA Trust National Association decreased its holdings in Crown Holdings, Inc. (NYSE:CCK) by 3.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,803 shares of the industrial products company’s stock after selling 137 shares during the quarter. TIAA Trust National Association’s holdings in Crown were worth $314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CCK. Farther Finance Advisors LLC boosted its stake in shares of 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 acquiring an additional 256 shares during the last quarter. Brooklyn Investment Group purchased a new position in Crown during the third quarter valued at $44,000. GAMMA Investing LLC grew its holdings in Crown by 84.2% during the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 261 shares during the period. True Wealth Design LLC increased its position in Crown by 6,850.0% in the third quarter. True Wealth Design LLC now owns 695 shares of the industrial products company’s stock worth $67,000 after buying an additional 685 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of 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 worth $57,000 after buying an additional 117 shares during the period. 90.93% of the stock is owned by hedge funds and other institutional investors.

Crown Price Performance

Shares of Crown stock opened at $88.19 on Friday. The firm has a market cap of $10.31 billion, a PE ratio of 24.77, a PEG ratio of 1.56 and a beta of 0.88. The stock has a 50 day moving average of $88.32 and a 200 day 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. Crown Holdings, Inc. has a 12 month low of $70.84 and a 12 month high of $98.46.

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

Crown Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a $0.26 dividend. 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%. The ex-dividend date of this dividend is Tuesday, March 18th. Crown’s dividend payout ratio (DPR) is presently 29.21%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CCK. Royal Bank of Canada boosted their price objective on Crown from $113.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Truist Financial lifted their target price 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. Wells Fargo & Company increased their price target on Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Finally, Morgan Stanley upgraded Crown from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $109.00 to $105.00 in a research report on Monday, January 13th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

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.