Envestnet Portfolio Solutions Inc. Makes New $820,000 Investment in Crown Holdings, Inc. (NYSE:CCK)

Envestnet Portfolio Solutions Inc. bought a new stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 9,187 shares of the industrial products company's stock, valued at approximately $820,000.

Several other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp grew its position in Crown by 10.5% during the 4th quarter. Bank of New York Mellon Corp now owns 2,967,810 shares of the industrial products company's stock worth $245,408,000 after acquiring an additional 283,014 shares during the last quarter. New York Life Investment Management LLC bought a new stake in shares of Crown during the fourth quarter worth $1,138,000. Proficio Capital Partners LLC bought a new stake in shares of Crown during the fourth quarter worth $1,884,000. Versor Investments LP acquired a new stake in shares of Crown in the fourth quarter valued at $1,560,000. Finally, SVB Wealth LLC bought a new position in shares of Crown in the fourth quarter valued at about $323,000. Institutional investors own 90.93% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CCK shares. Mizuho boosted their target price on shares of Crown from $105.00 to $110.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. Morgan Stanley boosted their price objective on shares of Crown from $114.00 to $118.00 and gave the stock an "overweight" rating in a research report on Wednesday. Royal Bank Of Canada lifted their target price on Crown from $115.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. UBS Group boosted their target price on Crown from $109.00 to $114.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Finally, Barclays raised their price target on Crown from $109.00 to $117.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $111.64.

Insider Activity at Crown

In related news, VP Christy L. Kalaus sold 2,130 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $99.41, for a total transaction of $211,743.30. Following the completion of the transaction, the vice president now directly owns 4,500 shares in the company, valued at approximately $447,345. This trade represents a 32.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Gerard H. Gifford sold 7,000 shares of the business's 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 completion of the sale, the chief operating officer now owns 135,014 shares in the company, valued at $13,096,358. The trade was 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 Trading Down 1.0%

NYSE:CCK traded down $1.02 during trading hours on Friday, hitting $103.43. The stock had a trading volume of 1,671,447 shares, compared to its average volume of 1,248,353. The business's 50 day moving average is $98.02 and its 200-day moving average is $90.25. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.56 and a current ratio of 0.87. The company has a market cap of $12.04 billion, a price-to-earnings ratio of 22.24, a P/E/G ratio of 1.80 and a beta of 0.76. Crown Holdings, Inc. has a one year low of $70.84 and a one year high of $105.38.

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

Crown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Thursday, May 15th. Crown's dividend payout ratio (DPR) is presently 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.