Cresset Asset Management LLC Has $278,000 Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Cresset Asset Management LLC reduced its position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 70.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,356 shares of the industrial products company's stock after selling 8,122 shares during the period. Cresset Asset Management LLC's holdings in Crown were worth $278,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Metropolis Capital Ltd boosted its position in Crown by 68.7% during the 4th quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company's stock worth $203,116,000 after acquiring an additional 1,000,605 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Crown by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 812,474 shares of the industrial products company's stock worth $67,183,000 after purchasing an additional 8,739 shares in the last quarter. Merit Financial Group LLC acquired a new position in Crown during the fourth quarter worth $255,000. Washington Capital Management Inc. bought a new position in Crown in the fourth quarter valued at $604,000. Finally, Iridian Asset Management LLC CT increased its stake in Crown by 13.5% in the 4th quarter. Iridian Asset Management LLC CT now owns 222,292 shares of the industrial products company's stock valued at $18,381,000 after buying an additional 26,443 shares during the last quarter. 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 Crown 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 transaction, the vice president now directly owns 4,500 shares of the company's stock, valued at $447,345. The trade was a 32.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Gerard H. Gifford sold 7,000 shares of the stock in a transaction that occurred 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 $13,096,358. This represents a 4.93% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Crown Stock Performance

Crown stock traded down $0.73 during trading hours on Wednesday, hitting $98.31. The company had a trading volume of 874,564 shares, compared to its average volume of 1,214,659. The firm has a 50-day moving average of $90.22 and a 200 day moving average of $88.55. 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 firm has a market cap of $11.44 billion, a PE ratio of 27.61, a PEG ratio of 1.56 and a beta of 0.76. Crown Holdings, Inc. has a one year low of $70.84 and a one year high of $100.24.

Crown (NYSE:CCK - Get Free Report) last announced its earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share for the quarter, topping analysts' consensus estimates of $1.22 by $0.45. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.82 billion. Crown had a return on equity of 25.12% and a net margin of 3.59%. The firm's quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.02 earnings per share. On average, sell-side analysts expect that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be paid a $0.26 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.04 annualized dividend and a dividend yield of 1.06%. Crown's dividend payout ratio (DPR) is presently 22.37%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CCK. Barclays raised their price objective on Crown from $109.00 to $117.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Truist Financial dropped their price objective on Crown from $107.00 to $97.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. StockNews.com upgraded shares of Crown from a "hold" rating to a "buy" rating in a report on Friday, February 7th. UBS Group increased their price target on shares of Crown from $109.00 to $114.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Finally, Wells Fargo & Company boosted their price objective on shares of Crown from $89.00 to $101.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently 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.