Crown Holdings, Inc. $CCK Stake Raised by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 13.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 142,128 shares of the industrial products company’s stock after purchasing an additional 16,752 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Crown were worth $15,093,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Bank of New York Mellon Corp bought a new stake in Crown during the second quarter valued at about $112,578,000. Nykredit A S bought a new stake in Crown during the second quarter valued at about $99,537,000. SEB Asset Management AB acquired a new position in shares of Crown during the first quarter valued at about $54,291,000. Assenagon Asset Management S.A. acquired a new stake in Crown during the 2nd quarter valued at approximately $60,275,000. Finally, Quantinno Capital Management LP grew its stake in shares of Crown by 19.3% during the 1st quarter. Quantinno Capital Management LP now owns 1,156,902 shares of the industrial products company’s stock worth $115,979,000 after purchasing an additional 186,849 shares during the period. 90.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Truist Financial reiterated a “buy” rating and set a $141.00 price target (up from $129.00) on shares of Crown in a research report on Wednesday, July 22nd. Citigroup boosted their price target on shares of Crown from $137.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, October 21st. UBS Group lifted their target price on shares of Crown from $116.00 to $118.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 21st. Robert W. Baird increased their target price on shares of Crown from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. downgraded shares of Crown from an “overweight” rating to a “neutral” rating and set a $121.00 target price for the company. in a research report on Wednesday, November 4th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Crown has a consensus rating of “Moderate Buy” and an average target price of $128.47.

Crown Trading Up 0.8%

Shares of NYSE CCK opened at $121.39 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.71 and a debt-to-equity ratio of 1.65. The company has a market cap of $13.12 billion, a PE ratio of 14.21, a P/E/G ratio of 1.51 and a beta of 0.54. The company has a 50-day moving average of $113.63 and a two-hundred day moving average of $109.38. Crown Holdings, Inc. has a 1-year low of $91.31 and a 1-year high of $126.36.

Crown (NYSE:CCK) last issued its quarterly earnings results on Monday, October 19th. The industrial products company reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.13. Crown had a return on equity of 27.41% and a net margin of 5.78%. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same period in the previous year, the company posted $2.24 earnings per share. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, equities analysts expect that Crown Holdings, Inc. will post 8.41 earnings per share for the current fiscal year.

Crown Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Thursday, November 5th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Thursday, November 5th. Crown’s dividend payout ratio (DPR) is presently 19.50%.

Crown Profile

Crown Holdings, Inc. is a global packaging company that designs and manufactures metal packaging for consumer goods and industrial products. Its products include beverage cans, food cans, aerosol containers, metal closures and other packaging components. The company serves customers across a range of industries, including beverage, food, household and personal care, and industrial markets. Its operations span North America, Europe, Asia-Pacific and other international markets. Crown traces its roots to 1892, when William Painter founded the Crown Cork and Seal Company in Baltimore.