Forsta AP Fonden increased its position in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 188.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 77,000 shares of the industrial products company's stock after purchasing an additional 50,300 shares during the period. Forsta AP Fonden owned 0.07% of Crown worth $6,873,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CCK. Bank of New York Mellon Corp grew its holdings in Crown by 5.6% during the 1st quarter. Bank of New York Mellon Corp now owns 3,135,062 shares of the industrial products company's stock valued at $279,836,000 after buying an additional 167,252 shares during the last quarter. AQR Capital Management LLC grew its stake in Crown by 30.6% in the fourth quarter. AQR Capital Management LLC now owns 1,705,081 shares of the industrial products company's stock worth $140,720,000 after purchasing an additional 399,842 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Crown by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,553,632 shares of the industrial products company's stock valued at $128,464,000 after acquiring an additional 12,784 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in shares of Crown by 22.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,549,470 shares of the industrial products company's stock worth $128,126,000 after buying an additional 279,596 shares during the period. Finally, Northern Trust Corp raised its holdings in Crown by 32.0% during the fourth quarter. Northern Trust Corp now owns 1,092,911 shares of the industrial products company's stock worth $90,373,000 after purchasing an additional 264,803 shares in the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.
Crown Price Performance
Shares of NYSE CCK traded up $1.27 during mid-day trading on Wednesday, hitting $102.87. 970,386 shares of the stock were exchanged, compared to its average volume of 1,292,232. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.06. The company has a market cap of $11.97 billion, a P/E ratio of 21.61, a PEG ratio of 1.54 and a beta of 0.74. The stock's fifty day simple moving average is $103.17 and its two-hundred day simple moving average is $94.80. Crown Holdings, Inc. has a twelve month low of $75.98 and a twelve month high of $109.48.
Crown (NYSE:CCK - Get Free Report) last issued its quarterly earnings results on Monday, July 21st. The industrial products company reported $2.15 earnings per share for the quarter, beating analysts' consensus estimates 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%. Crown's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.81 earnings per share. As a group, analysts forecast that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.
Crown Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. Crown's dividend payout ratio (DPR) is currently 21.85%.
Insider Buying and Selling
In other Crown news, CAO Gerard H. Gifford sold 8,222 shares of Crown stock in a transaction on Friday, July 25th. The shares were sold at an average price of $102.93, for a total transaction of $846,290.46. Following the completion of the sale, the chief accounting officer owned 122,585 shares of the company's stock, valued at approximately $12,617,674.05. The trade was a 6.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $211,743.30. Following the sale, the vice president directly owned 4,500 shares of the company's stock, valued at $447,345. This represents a 32.13% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company's stock.
Analyst Ratings Changes
Several research analysts have issued reports on CCK shares. Wall Street Zen cut Crown from a "strong-buy" rating to a "buy" rating in a report on Saturday. Citigroup reiterated a "buy" rating on shares of Crown in a report on Wednesday, July 23rd. Robert W. Baird upped their price objective on shares of Crown from $105.00 to $110.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Morgan Stanley boosted their target price on shares of Crown from $114.00 to $118.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 25th. Finally, Royal Bank Of Canada increased their target price on shares of Crown from $115.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $120.67.
Read Our Latest Stock Analysis on CCK
Crown Company Profile
(
Free Report)
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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