Fjarde AP Fonden Fourth Swedish National Pension Fund Lowers Position in Crown Holdings, Inc. $CCK

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund significantly reduced its stake in Crown Holdings, Inc., selling 75,500 shares for a total ownership decrease of 91.8%. The remaining shares were worth approximately $598,000.
• Several hedge funds, including Raymond James Financial Inc. and Canada Pension Plan Investment Board, have made substantial investments in Crown during the fourth quarter, indicating strong institutional interest.
• Wall Street analysts have generally given positive ratings, with a consensus price target for Crown's stock at $120.67, following multiple upgrades and increasing target prices from several firms.

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 91.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,700 shares of the industrial products company's stock after selling 75,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Crown were worth $598,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new stake in Crown during the fourth quarter valued at $8,466,000. Jump Financial LLC purchased a new stake in Crown during the fourth quarter valued at $243,000. NewEdge Advisors LLC raised its stake in 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 purchasing an additional 4,757 shares in the last quarter. Marshall Wace LLP raised its stake in Crown by 19.9% during the fourth quarter. Marshall Wace LLP now owns 4,643 shares of the industrial products company's stock valued at $384,000 after purchasing an additional 769 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Crown by 41.1% during the fourth quarter. Canada Pension Plan Investment Board now owns 35,274 shares of the industrial products company's stock valued at $2,917,000 after purchasing an additional 10,274 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Crown from a "buy" rating to a "strong-buy" rating in a research note on Sunday. Bank of America increased their target price on shares of Crown from $110.00 to $117.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Morgan Stanley increased their target price on shares of Crown from $114.00 to $118.00 and gave the company an "overweight" rating in a research note on Wednesday, June 25th. Barclays increased their target price on shares of Crown from $109.00 to $117.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company increased their target price on shares of Crown from $101.00 to $110.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $120.67.

Crown Stock Performance

CCK stock opened at $100.55 on Monday. The firm has a market cap of $11.70 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 1.54 and a beta of 0.74. The firm has a 50-day simple moving average of $103.26 and a two-hundred day simple moving average of $95.05. Crown Holdings, Inc. has a one year low of $75.98 and a one year high of $109.48. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.06.

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

Crown Announces Dividend

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

Insider Activity at Crown

In related news, CAO Gerard H. Gifford sold 8,222 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $102.93, for a total value of $846,290.46. Following the completion of the transaction, the chief accounting officer directly owned 122,585 shares of the company's stock, valued at $12,617,674.05. This trade represents a 6.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.90% of the stock is owned by insiders.

Crown 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.

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