Generali Asset Management SPA SGR Purchases Shares of 40,970 Crown Holdings, Inc. (NYSE:CCK)

Generali Asset Management SPA SGR purchased a new stake in shares of Crown Holdings, Inc. (NYSE:CCK) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 40,970 shares of the industrial products company’s stock, valued at approximately $3,388,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CCK. Pacer Advisors Inc. grew its holdings in Crown by 10,138.8% during the fourth quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company’s stock valued at $256,762,000 after purchasing an additional 3,074,791 shares during the last quarter. Metropolis Capital Ltd grew its holdings in Crown by 68.7% during the fourth quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company’s stock valued at $203,116,000 after purchasing an additional 1,000,605 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Crown in the fourth quarter worth $66,732,000. Jennison Associates LLC grew its stake in shares of Crown by 125.0% in the third quarter. Jennison Associates LLC now owns 1,352,711 shares of the industrial products company’s stock worth $129,698,000 after acquiring an additional 751,530 shares during the last quarter. Finally, FMR LLC grew its stake in shares of Crown by 9.3% in the third quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock worth $842,556,000 after acquiring an additional 749,085 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Citigroup raised their price objective on shares of Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Morgan Stanley upgraded shares of Crown from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $109.00 to $105.00 in a research note on Monday, January 13th. UBS Group lowered their price objective on shares of Crown from $113.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Mizuho lowered their price objective on shares of Crown from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $106.00.

Crown Stock Up 0.2 %

Shares of NYSE CCK opened at $90.58 on Thursday. The stock has a market cap of $10.65 billion, a PE ratio of 25.44, a PEG ratio of 1.56 and a beta of 0.88. The business has a fifty day moving average of $87.31 and a two-hundred day moving average of $89.54. 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 issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.08. Crown had a return on equity of 25.12% and a net margin of 3.59%. As a group, equities research analysts expect that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This is a boost from Crown’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.15%. Crown’s dividend payout ratio (DPR) is presently 29.21%.

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.