Bank of America Corp DE Purchases 20,373 Shares of Crown Holdings, Inc. (NYSE:CCK)

Bank of America Corp DE boosted its stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 699,493 shares of the industrial products company's stock after purchasing an additional 20,373 shares during the quarter. Bank of America Corp DE owned about 0.58% of Crown worth $57,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Crown Price Performance

CCK stock traded down $0.16 during midday trading on Friday, hitting $99.42. The company's stock had a trading volume of 1,419,721 shares, compared to its average volume of 1,210,936. Crown Holdings, Inc. has a 12 month low of $70.84 and a 12 month high of $100.17. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. The firm has a market capitalization of $11.57 billion, a price-to-earnings ratio of 27.93, a price-to-earnings-growth ratio of 1.56 and a beta of 0.76. The company has a 50 day moving average of $89.75 and a two-hundred day moving average of $88.52.

Crown (NYSE:CCK - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.45. The business had revenue of $2.89 billion for 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%. The company's revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.02 EPS. On average, analysts expect that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.26 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.04 annualized dividend and a dividend yield of 1.05%. Crown's dividend payout ratio (DPR) is 22.37%.

Insider Activity at Crown

In related news, COO Gerard H. Gifford sold 7,000 shares of the stock in a transaction on Friday, May 2nd. The stock was 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 in the company, valued at approximately $13,096,358. This represents a 4.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on CCK. UBS Group lifted their price target on shares of Crown from $109.00 to $114.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Royal Bank of Canada lifted their price target on Crown from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Wells Fargo & Company boosted their target price on Crown from $89.00 to $101.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. StockNews.com raised Crown from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Finally, Barclays boosted their price target on Crown from $109.00 to $117.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Crown 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.