Allspring Global Investments Holdings LLC Acquires 13,117 Shares of Crown Holdings, Inc. (NYSE:CCK)

Allspring Global Investments Holdings LLC increased its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 4.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 299,097 shares of the industrial products company's stock after purchasing an additional 13,117 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.26% of Crown worth $26,979,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its position in shares of Crown by 160.0% during the 4th 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 in the last quarter. Colonial Trust Co SC raised its stake in Crown by 88.0% during the 4th quarter. Colonial Trust Co SC now owns 752 shares of the industrial products company's stock worth $62,000 after buying an additional 352 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Crown by 325.1% during 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. Parallel Advisors LLC raised its position in shares of Crown by 33.8% during the first quarter. Parallel Advisors LLC now owns 811 shares of the industrial products company's stock worth $72,000 after purchasing an additional 205 shares during the period. Finally, Natixis bought a new position in shares of Crown in the 4th quarter worth $91,000. 90.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Crown news, VP Christy L. Kalaus sold 2,130 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $99.41, for a total value of $211,743.30. Following the completion of the sale, the vice president directly owned 4,500 shares of the company's stock, valued at $447,345. This trade represents a 32.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Gerard H. Gifford sold 7,000 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $97.00, for a total value of $679,000.00. Following the completion of the sale, the chief operating officer owned 135,014 shares in the company, valued at approximately $13,096,358. The trade was a 4.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CCK has been the topic of several research reports. Barclays upped their price objective on shares of Crown from $109.00 to $117.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Wells Fargo & Company upped their target price on shares of Crown from $89.00 to $101.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Wall Street Zen upgraded Crown from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 28th. Truist Financial decreased their price objective on Crown from $107.00 to $97.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Finally, UBS Group raised their target price on Crown from $109.00 to $114.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Crown has a consensus rating of "Moderate Buy" and a consensus target price of $113.27.

Crown Stock Performance

Shares of CCK stock traded up $0.99 during trading on Thursday, hitting $107.90. The company's stock had a trading volume of 630,682 shares, compared to its average volume of 1,245,717. The company has a current ratio of 0.87, a quick ratio of 0.56 and a debt-to-equity ratio of 1.50. The company has a market cap of $12.56 billion, a PE ratio of 23.20, a P/E/G ratio of 1.84 and a beta of 0.76. The business has a fifty day moving average of $99.53 and a 200-day moving average of $90.75. Crown Holdings, Inc. has a 52 week low of $70.84 and a 52 week high of $108.05.

Crown (NYSE:CCK - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.22 by $0.45. The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.82 billion. Crown had a return on equity of 26.98% and a net margin of 4.62%. The business's revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.02 EPS. As a group, research analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Thursday, May 15th. Crown's payout ratio is 22.37%.

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.