Cibc World Markets Corp Sells 1,578 Shares of Crown Holdings, Inc. (NYSE:CCK)

Cibc World Markets Corp trimmed its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 22.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,459 shares of the industrial products company’s stock after selling 1,578 shares during the period. Cibc World Markets Corp’s holdings in Crown were worth $451,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Crown in the third quarter valued at about $533,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Crown by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 803,735 shares of the industrial products company’s stock valued at $77,062,000 after buying an additional 13,145 shares during the period. Raymond James Trust N.A. acquired a new position in Crown in the third quarter worth about $277,000. Citigroup Inc. lifted its stake in Crown by 11.0% during the third quarter. Citigroup Inc. now owns 73,654 shares of the industrial products company’s stock worth $7,062,000 after purchasing an additional 7,319 shares during the period. Finally, Cerity Partners LLC lifted its stake in Crown by 369.0% during the third quarter. Cerity Partners LLC now owns 39,610 shares of the industrial products company’s stock worth $3,798,000 after purchasing an additional 31,164 shares during the period. 90.93% of the stock is currently owned by institutional investors.

Crown Price Performance

CCK stock opened at $87.39 on Monday. The company has a fifty day moving average price of $87.90 and a 200-day moving average price of $89.51. The company has a market capitalization of $10.27 billion, a P/E ratio of 24.55, a PEG ratio of 1.56 and a beta of 0.88. Crown Holdings, Inc. has a 52-week low of $70.84 and a 52-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.

Crown (NYSE:CCK) last posted 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%. As a group, equities analysts expect that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a dividend of $0.26 per share. This is a positive change from Crown’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Tuesday, March 18th. Crown’s dividend payout ratio (DPR) is presently 29.21%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Royal Bank of Canada raised their price target on shares of Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Mizuho cut their target price on shares of Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Bank of America cut their target price on shares of Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Barclays cut their target price on shares of Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Finally, Wells Fargo & Company lifted their target price on shares of Crown from $86.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.