Jensen Investment Management Inc. Trims Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Jensen Investment Management Inc. lessened its position in Crown Holdings, Inc. (NYSE:CCK) by 11.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 89,318 shares of the industrial products company’s stock after selling 11,600 shares during the quarter. Jensen Investment Management Inc. owned approximately 0.07% of Crown worth $7,386,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CCK. LBP AM SA raised its holdings in shares of Crown by 52.0% in the 4th quarter. LBP AM SA now owns 55,481 shares of the industrial products company’s stock valued at $4,588,000 after purchasing an additional 18,992 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Crown in the fourth quarter valued at approximately $66,732,000. Skandinaviska Enskilda Banken AB publ grew its position in Crown by 100.1% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 59,562 shares of the industrial products company’s stock worth $4,878,000 after purchasing an additional 29,800 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Crown during the fourth quarter worth about $2,013,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of Crown by 160.0% in the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 256 shares during the period. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Crown Price Performance

CCK opened at $89.01 on Monday. 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 Holdings, Inc. has a 1-year low of $70.84 and a 1-year high of $98.46. The company has a 50-day moving average of $86.91 and a 200-day moving average of $89.53. The company has a market capitalization of $10.46 billion, a P/E ratio of 25.00, a PEG ratio of 1.56 and a beta of 0.88.

Crown (NYSE:CCK) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.08. Crown had a return on equity of 25.12% and a net margin of 3.59%. Equities analysts expect that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.26 per share. This is a positive change from Crown’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, March 18th. This represents a $1.04 annualized dividend and a yield of 1.17%. Crown’s payout ratio is presently 29.21%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CCK shares. Truist Financial increased their target price on Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. Wells Fargo & Company raised their price target on Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Barclays decreased their price objective on Crown from $112.00 to $109.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. UBS Group reduced their target price on Crown from $113.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a research note on Friday, February 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $106.00.

Crown Company 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.