Crown Holdings, Inc. (NYSE:CCK) Stock Position Cut by Deutsche Bank AG

Deutsche Bank AG trimmed its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 3.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 218,850 shares of the industrial products company’s stock after selling 8,151 shares during the quarter. Deutsche Bank AG owned about 0.18% of Crown worth $18,097,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in CCK. Farther Finance Advisors LLC raised its stake in shares of Crown by 160.0% in the 4th quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $34,000 after buying an additional 256 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position 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 worth $57,000 after acquiring an additional 117 shares in the last quarter. Colonial Trust Co SC raised its position in Crown by 88.0% in the fourth quarter. Colonial Trust Co SC now owns 752 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 352 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of Crown by 48.6% during the 4th quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 269 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its stake 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 worth $70,000 after purchasing an additional 647 shares during the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CCK has been the subject of several research analyst reports. Barclays upped their price target on shares of Crown from $109.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Truist Financial cut their target price on shares of Crown from $107.00 to $97.00 and set a “hold” rating on the stock in a research note on Tuesday, April 22nd. Mizuho raised their target price on Crown from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 29th. Wells Fargo & Company lifted their price target on Crown from $89.00 to $101.00 and gave the company an “equal weight” rating in a report on Wednesday, April 30th. Finally, Royal Bank of Canada increased their price objective on Crown from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $110.45.

Crown Stock Up 2.4%

NYSE:CCK opened at $99.78 on Thursday. The stock has a 50-day simple moving average of $89.38 and a 200 day simple moving average of $88.45. Crown Holdings, Inc. has a 52-week low of $70.84 and a 52-week high of $100.17. The company has a market cap of $11.61 billion, a PE ratio of 28.03, a PEG ratio of 1.56 and a beta of 0.76. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22.

Crown (NYSE:CCK) last posted its quarterly earnings data 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. Crown had a net margin of 3.59% and a return on equity of 25.12%. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the prior year, the business posted $1.02 EPS. The company’s quarterly revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts expect that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Thursday, May 15th. Crown’s dividend payout ratio is 22.37%.

Insiders Place Their Bets

In related news, COO Gerard H. Gifford sold 7,000 shares of the business’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $97.00, for a total value of $679,000.00. Following the completion of the transaction, the chief operating officer now owns 135,014 shares of the company’s stock, valued at $13,096,358. The trade was a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.90% of the company’s stock.

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.