Crown Holdings, Inc. (NYSE:CCK) Stock Position Lifted by Covestor Ltd

Covestor Ltd lifted its holdings in Crown Holdings, Inc. (NYSE:CCK) by 156.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 454 shares of the industrial products company’s stock after purchasing an additional 277 shares during the quarter. Covestor Ltd’s holdings in Crown were worth $44,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of CCK. Sessa Capital IM L.P. boosted its stake in Crown by 153.0% during the second quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock valued at $244,697,000 after buying an additional 1,989,374 shares in the last quarter. 1832 Asset Management L.P. bought a new position in Crown during the first quarter valued at about $119,167,000. Metropolis Capital Ltd boosted its stake in Crown by 269.7% during the third quarter. Metropolis Capital Ltd now owns 1,455,752 shares of the industrial products company’s stock valued at $139,578,000 after buying an additional 1,062,001 shares in the last quarter. AQR Capital Management LLC boosted its stake in Crown by 121.7% during the second quarter. AQR Capital Management LLC now owns 736,478 shares of the industrial products company’s stock valued at $54,787,000 after buying an additional 404,250 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in Crown during the first quarter valued at about $29,981,000. Institutional investors own 90.93% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CCK shares. Mizuho set a $110.00 target price on Crown in a report on Friday, October 18th. Barclays upped their target price on Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Truist Financial upped their target price on Crown from $95.00 to $103.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Royal Bank of Canada upped their target price on Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, StockNews.com raised Crown from a “hold” rating to a “buy” rating in a report on Saturday, October 26th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $106.62.

Insider Activity

In related news, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total value of $958,900.00. Following the completion of the sale, the chief operating officer now directly owns 114,402 shares in the company, valued at $10,970,007.78. This represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $90.58, for a total value of $679,350.00. Following the completion of the sale, the chief executive officer now owns 578,678 shares of the company’s stock, valued at $52,416,653.24. The trade was a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,506 shares of company stock worth $3,157,399. Insiders own 0.90% of the company’s stock.

Crown Trading Down 0.2 %

Shares of NYSE:CCK opened at $89.84 on Friday. The company has a market capitalization of $10.75 billion, a P/E ratio of 110.91, a P/E/G ratio of 2.05 and a beta of 0.85. Crown Holdings, Inc. has a 1 year low of $69.61 and a 1 year high of $98.46. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. The business’s 50 day simple moving average is $93.58 and its 200 day simple moving average is $86.52.

Crown (NYSE:CCK) last released its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.18. Crown had a return on equity of 24.57% and a net margin of 0.83%. The firm had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.07 billion. On average, research analysts anticipate that Crown Holdings, Inc. will post 6.34 EPS for the current fiscal year.

Crown Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Thursday, November 14th. Crown’s payout ratio is 123.46%.

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.