Nationwide Fund Advisors increased its holdings in Crown Crafts, Inc. (NASDAQ:CRWS) by 185.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,810 shares of the textile maker’s stock after buying an additional 26,510 shares during the quarter. Nationwide Fund Advisors owned 0.41% of Crown Crafts worth $265,000 at the end of the most recent reporting period.
Separately, Vanguard Group Inc. boosted its position in Crown Crafts by 0.5% in the second quarter. Vanguard Group Inc. now owns 380,694 shares of the textile maker’s stock valued at $2,627,000 after buying an additional 1,706 shares during the last quarter. Institutional investors and hedge funds own 42.01% of the company’s stock.
Several equities research analysts have commented on CRWS shares. ValuEngine lowered Crown Crafts from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. B. Riley reaffirmed a “buy” rating and issued a $7.50 target price on shares of Crown Crafts in a research note on Friday, November 10th. Finally, Zacks Investment Research downgraded Crown Crafts from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Crown Crafts presently has a consensus rating of “Buy” and an average target price of $7.81.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 15th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend is Thursday, December 14th. Crown Crafts’s payout ratio is presently 68.09%.
Crown Crafts Profile
Crown Crafts, Inc operates indirectly through its subsidiaries, Crown Crafts Infant Products, Inc, Hamco, Inc and Carousel Designs, LLC, in the infant and toddler products segment within the consumer products industry. The Company operates though the segment of infant and toddler products. These products consist of infant and toddler bedding, bibs, soft bath products, disposable products and accessories.
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