Leith Wheeler Investment Counsel Ltd. Reduces Holdings in Crown Holdings, Inc. (NYSE:CCK)

Leith Wheeler Investment Counsel Ltd. reduced its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 3.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 107,360 shares of the industrial products company’s stock after selling 3,801 shares during the quarter. Leith Wheeler Investment Counsel Ltd. owned approximately 0.09% of Crown worth $8,878,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its holdings 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 acquiring an additional 256 shares in the last quarter. GAMMA Investing LLC grew its holdings in Crown by 84.2% during the 4th quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 261 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Crown by 20.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock valued at $57,000 after buying an additional 117 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Crown by 48.6% in the 4th quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company’s stock valued at $68,000 after buying an additional 269 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Crown by 325.1% in the 4th quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company’s stock valued at $70,000 after buying an additional 647 shares in the last quarter. 90.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Crown from $86.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Bank of America decreased their price objective on shares of 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 decreased their price objective on shares of Crown from $107.00 to $97.00 and set a “hold” rating for the company in a research report on Tuesday, April 22nd. UBS Group decreased their price objective on shares of Crown from $113.00 to $108.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Morgan Stanley raised shares of Crown from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $109.00 to $105.00 in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.42.

Crown Stock Up 0.6 %

CCK opened at $89.88 on Tuesday. Crown Holdings, Inc. has a fifty-two week low of $70.84 and a fifty-two week high of $98.46. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22. The company has a fifty day moving average of $87.22 and a two-hundred day moving average of $88.17. The stock has a market capitalization of $10.51 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 1.56 and a beta of 0.79.

Crown (NYSE:CCK) last released its earnings results on Monday, April 28th. The industrial products company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.45. The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Crown had a net margin of 3.59% and a return on equity of 25.12%. On average, research analysts expect that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were paid a dividend of $0.26 per share. The ex-dividend date was Tuesday, March 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.16%. This is a boost from Crown’s previous quarterly dividend of $0.25. Crown’s payout ratio is currently 29.21%.

Crown Company 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.