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

TIAA Trust National Association decreased its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 3.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,803 shares of the industrial products company’s stock after selling 137 shares during the period. TIAA Trust National Association’s holdings in Crown were worth $314,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its position in shares of Crown by 1.8% during the fourth quarter. Victory Capital Management Inc. now owns 5,779,691 shares of the industrial products company’s stock valued at $477,923,000 after purchasing an additional 102,789 shares in the last quarter. State Street Corp boosted its holdings 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 buying an additional 69,260 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Crown by 10,138.8% in the 4th quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company’s stock worth $256,762,000 after buying an additional 3,074,791 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Crown by 10.5% in the 4th quarter. Bank of New York Mellon Corp now owns 2,967,810 shares of the industrial products company’s stock worth $245,408,000 after acquiring an additional 283,014 shares in the last quarter. Finally, Metropolis Capital Ltd lifted its position in Crown by 68.7% during the 4th quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company’s stock valued at $203,116,000 after acquiring an additional 1,000,605 shares during the period. Institutional investors own 90.93% of the company’s stock.

Crown Price Performance

Shares of NYSE:CCK opened at $88.19 on Friday. 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 firm has a market cap of $10.31 billion, a price-to-earnings ratio of 24.77, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88. The business has a 50-day simple moving average of $88.32 and a two-hundred day simple moving average of $89.45. Crown Holdings, Inc. has a fifty-two week low of $70.84 and a fifty-two week high of $98.46.

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 analysts’ consensus estimates of $1.51 by $0.08. Crown had a net margin of 3.59% and a return on equity of 25.12%. On average, analysts expect that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.18%. This is a boost from Crown’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, March 18th. Crown’s dividend payout ratio is presently 29.21%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Truist Financial boosted their price target on Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Barclays lowered their price objective on Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Wells Fargo & Company increased their target price on Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Citigroup lifted their price target on Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Mizuho cut their price objective on shares of Crown from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $106.00.

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.