Charles Schwab Investment Management Inc. Purchases 9,858 Shares of Crown Holdings, Inc. (NYSE:CCK)

Charles Schwab Investment Management Inc. increased its stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 1.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 822,332 shares of the industrial products company's stock after buying an additional 9,858 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.70% of Crown worth $73,401,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its holdings in Crown by 5.6% in the 1st quarter. Bank of New York Mellon Corp now owns 3,135,062 shares of the industrial products company's stock valued at $279,836,000 after acquiring an additional 167,252 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Crown by 30.6% in the fourth quarter. AQR Capital Management LLC now owns 1,705,081 shares of the industrial products company's stock valued at $140,720,000 after acquiring an additional 399,842 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Crown by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,553,632 shares of the industrial products company's stock valued at $128,464,000 after purchasing an additional 12,784 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Crown by 22.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,549,470 shares of the industrial products company's stock valued at $128,126,000 after buying an additional 279,596 shares during the last quarter. Finally, Northern Trust Corp increased its position in Crown by 32.0% during the fourth quarter. Northern Trust Corp now owns 1,092,911 shares of the industrial products company's stock worth $90,373,000 after purchasing an additional 264,803 shares during the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CCK. Citigroup restated a "buy" rating on shares of Crown in a research note on Wednesday, July 23rd. Wall Street Zen upgraded shares of Crown from a "buy" rating to a "strong-buy" rating in a research note on Sunday. UBS Group increased their price objective on shares of Crown from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Wells Fargo & Company increased their price objective on shares of Crown from $101.00 to $110.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Finally, Truist Financial reiterated a "hold" rating and issued a $118.00 target price (up from $117.00) on shares of Crown in a report on Wednesday, July 23rd. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Crown has an average rating of "Moderate Buy" and a consensus price target of $120.67.

Crown Stock Performance

CCK stock traded down $0.53 during trading hours on Friday, hitting $100.55. 824,207 shares of the stock were exchanged, compared to its average volume of 1,382,645. The firm has a market capitalization of $11.70 billion, a P/E ratio of 21.12, a P/E/G ratio of 1.54 and a beta of 0.74. Crown Holdings, Inc. has a 12 month low of $75.98 and a 12 month high of $109.48. The company has a current ratio of 1.06, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67. The company has a 50-day simple moving average of $103.26 and a two-hundred day simple moving average of $95.01.

Crown (NYSE:CCK - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The industrial products company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.29. Crown had a return on equity of 27.15% and a net margin of 4.64%. The business had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period last year, the firm posted $1.81 earnings per share. Crown's revenue was up 3.6% compared to the same quarter last year. On average, analysts forecast that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Thursday, August 7th. Crown's dividend payout ratio (DPR) is 21.85%.

Insider Activity

In other news, CAO Gerard H. Gifford sold 8,222 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $102.93, for a total transaction of $846,290.46. Following the completion of the transaction, the chief accounting officer directly owned 122,585 shares in the company, valued at $12,617,674.05. This trade represents a 6.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is owned by company insiders.

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.