Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in Crown Holdings, Inc. (NYSE:CCK)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 36.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 88,450 shares of the industrial products company's stock after purchasing an additional 23,762 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.08% of Crown worth $7,895,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Bank of New York Mellon Corp boosted its position in Crown by 5.6% in the first quarter. Bank of New York Mellon Corp now owns 3,135,062 shares of the industrial products company's stock worth $279,836,000 after purchasing an additional 167,252 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Crown by 30.6% during the 4th quarter. AQR Capital Management LLC now owns 1,705,081 shares of the industrial products company's stock valued at $140,720,000 after buying an additional 399,842 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Crown by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,553,632 shares of the industrial products company's stock valued at $128,464,000 after buying an additional 12,784 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Crown by 22.0% during the 4th 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, Norges Bank purchased a new position in shares of Crown during the 4th quarter valued at $113,568,000. Hedge funds and other institutional investors own 90.93% of the company's stock.

Wall Street Analyst Weigh In

CCK has been the topic of a number of recent research reports. Bank of America upped their price target on Crown from $110.00 to $117.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Wall Street Zen raised Crown from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Royal Bank Of Canada upped their price target on Crown from $115.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Truist Financial reaffirmed a "hold" rating and set a $118.00 price target (up previously from $117.00) on shares of Crown in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company boosted their price objective on Crown from $101.00 to $110.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $120.67.

Insider Activity

In other news, CAO Gerard H. Gifford sold 8,222 shares of the 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 transaction, the chief accounting officer directly owned 122,585 shares in the company, valued at approximately $12,617,674.05. This represents a 6.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christy L. Kalaus sold 2,130 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $99.41, for a total value of $211,743.30. Following the transaction, the vice president owned 4,500 shares in the company, valued at $447,345. This trade represents a 32.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,352 shares of company stock worth $1,737,034 over the last quarter. Corporate insiders own 0.90% of the company's stock.

Crown Price Performance

NYSE CCK traded up $0.05 during trading on Thursday, reaching $99.40. The company's stock had a trading volume of 1,122,080 shares, compared to its average volume of 1,168,328. The stock has a market capitalization of $11.57 billion, a PE ratio of 20.88, a P/E/G ratio of 1.52 and a beta of 0.76. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.06 and a quick ratio of 0.69. The firm has a fifty day moving average of $102.72 and a 200 day moving average of $93.81. Crown Holdings, Inc. has a one year low of $75.98 and a one year high of $109.48.

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

Crown Announces Dividend

The company 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. The ex-dividend date is Thursday, August 7th. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. Crown's dividend payout ratio is 21.85%.

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.