Brevan Howard Capital Management LP Buys 114,002 Shares of Crown Holdings, Inc. (NYSE:CCK)

Brevan Howard Capital Management LP boosted its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 1,199.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 123,510 shares of the industrial products company's stock after buying an additional 114,002 shares during the quarter. Brevan Howard Capital Management LP owned approximately 0.10% of Crown worth $10,213,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Farther Finance Advisors LLC raised its stake in Crown by 160.0% in the 4th quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 256 shares during the period. GAMMA Investing LLC lifted its stake in shares of Crown by 84.2% during the 4th quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company's stock worth $47,000 after buying an additional 261 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Crown by 20.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company's stock worth $57,000 after buying an additional 117 shares during the period. Venturi Wealth Management LLC grew its stake in Crown by 48.6% in the 4th quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company's stock valued at $68,000 after buying an additional 269 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its position in Crown by 325.1% during the fourth quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company's stock worth $70,000 after acquiring an additional 647 shares during the last quarter. Institutional investors own 90.93% of the company's stock.

Insider Activity

In other Crown news, COO Gerard H. Gifford sold 7,000 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $97.00, for a total transaction of $679,000.00. Following the sale, the chief operating officer now owns 135,014 shares of the company's stock, valued at approximately $13,096,358. This represents a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.90% of the company's stock.

Crown Price Performance

CCK stock traded up $0.24 during trading on Thursday, reaching $97.34. 769,137 shares of the company were exchanged, compared to its average volume of 1,198,849. Crown Holdings, Inc. has a twelve month low of $70.84 and a twelve month high of $98.48. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.22 and a quick ratio of 0.80. The company has a market capitalization of $11.39 billion, a price-to-earnings ratio of 27.34, a P/E/G ratio of 1.56 and a beta of 0.76. The company has a 50-day moving average of $88.65 and a two-hundred day moving average of $88.38.

Crown (NYSE:CCK - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The industrial products company reported $1.67 EPS for the quarter, beating analysts' consensus estimates of $1.22 by $0.45. The company had revenue of $2.89 billion during the quarter, compared to analysts' expectations of $2.82 billion. Crown had a return on equity of 25.12% and a net margin of 3.59%. Crown's revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.02 EPS. As a group, equities analysts predict that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be given a $0.26 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.07%. Crown's dividend payout ratio (DPR) is currently 22.37%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CCK. StockNews.com upgraded Crown from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Royal Bank of Canada lifted their target price on Crown from $115.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Wells Fargo & Company raised their price target on shares of Crown from $89.00 to $101.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. Barclays increased their target price on shares of Crown from $109.00 to $117.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Finally, Truist Financial cut their price target on Crown from $107.00 to $97.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $110.45.

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.