Envestnet Asset Management Inc. Acquires 137,603 Shares of Crown Holdings, Inc. (NYSE:CCK)

Envestnet Asset Management Inc. boosted its stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 181.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 213,565 shares of the industrial products company's stock after purchasing an additional 137,603 shares during the period. Envestnet Asset Management Inc. owned about 0.18% of Crown worth $19,063,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CCK. Mirae Asset Global Investments Co. Ltd. raised its position in Crown by 155.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,793 shares of the industrial products company's stock valued at $158,000 after purchasing an additional 1,091 shares during the last quarter. GAMMA Investing LLC boosted its position in Crown by 110.3% during the 1st quarter. GAMMA Investing LLC now owns 1,201 shares of the industrial products company's stock worth $107,000 after buying an additional 630 shares during the period. Envestnet Portfolio Solutions Inc. bought a new stake in Crown during the 1st quarter worth approximately $820,000. State of Alaska Department of Revenue increased its position in Crown by 1.6% in the 1st quarter. State of Alaska Department of Revenue now owns 13,695 shares of the industrial products company's stock valued at $1,222,000 after acquiring an additional 215 shares during the period. Finally, NewEdge Advisors LLC raised its stake in shares of Crown by 588.0% during the fourth quarter. NewEdge Advisors LLC now owns 5,566 shares of the industrial products company's stock valued at $460,000 after acquiring an additional 4,757 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors.

Crown Stock Up 0.0%

Shares of NYSE:CCK traded up $0.01 during trading on Friday, reaching $106.31. 756,488 shares of the stock were exchanged, compared to its average volume of 1,235,144. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.87 and a quick ratio of 0.56. The stock has a fifty day moving average of $101.89 and a two-hundred day moving average of $92.40. Crown Holdings, Inc. has a 1-year low of $75.98 and a 1-year high of $109.48. The firm has a market cap of $12.37 billion, a price-to-earnings ratio of 22.86, a price-to-earnings-growth ratio of 1.74 and a beta of 0.76.

Crown (NYSE:CCK - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The industrial products company reported $1.67 EPS for the quarter, topping the consensus estimate 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 company's quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.02 earnings per share. Research analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were paid a $0.26 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.98%. Crown's payout ratio is presently 22.37%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of Crown from $114.00 to $118.00 and gave the stock an "overweight" rating in a report on Wednesday, June 25th. Bank of America upped their price target on shares of Crown from $110.00 to $117.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Truist Financial lifted their price objective on Crown from $110.00 to $117.00 and gave the stock a "hold" rating in a research report on Friday, July 11th. Mizuho boosted their price objective on Crown from $110.00 to $127.00 and gave the company an "outperform" rating in a research note on Tuesday. Finally, Wells Fargo & Company raised their target price on Crown from $101.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Friday. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $119.45.

Insider Activity at Crown

In related news, COO Gerard H. Gifford sold 7,000 shares of Crown stock in a transaction that occurred 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 sale, the chief operating officer owned 135,014 shares of the company's stock, valued at approximately $13,096,358. The trade was a 4.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Christy L. Kalaus sold 2,130 shares of the business's stock in a transaction on Friday, May 16th. The shares were 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 owned 4,500 shares in the company, valued at approximately $447,345. The trade was a 32.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company's stock.

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.