HB Wealth Management LLC Takes $537,000 Position in Crown Holdings, Inc. (NYSE:CCK)

Key Points

• HB Wealth Management LLC has taken a new position in Crown Holdings, Inc. by acquiring 6,017 shares valued at approximately $537,000.
• Crown Holdings reported earnings of $2.15 per share for the last quarter, exceeding consensus estimates of $1.86, with revenue of $3.15 billion.
• The company declared a quarterly dividend of $0.26 per share, expected to yield approximately 1.1%, with a payout ratio of 21.85%.

HB Wealth Management LLC acquired a new position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 6,017 shares of the industrial products company's stock, valued at approximately $537,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in shares of Crown by 5.6% in 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 purchasing an additional 167,252 shares during the period. AQR Capital Management LLC increased its position in Crown by 30.6% during 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 buying an additional 399,842 shares during the period. Dimensional Fund Advisors LP lifted 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 buying an additional 12,784 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Crown by 22.0% in the fourth 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 acquiring an additional 279,596 shares during the period. Finally, Northern Trust Corp grew its position in shares of 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 acquiring an additional 264,803 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company's stock.

Insider Transactions at Crown

In other news, CAO Gerard H. Gifford sold 8,222 shares of the business's stock in a transaction on Friday, July 25th. The stock was 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. The trade was a 6.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Christy L. Kalaus sold 2,130 shares of the firm's 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 sale, the vice president directly owned 4,500 shares in the company, valued at $447,345. This represents a 32.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Royal Bank Of Canada increased their price target on shares of Crown from $115.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Bank of America increased their target price on shares of Crown from $110.00 to $117.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Wells Fargo & Company boosted their price target on Crown from $101.00 to $110.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Wall Street Zen raised Crown from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Finally, Citigroup reissued a "buy" rating on shares of Crown in a report on Wednesday, July 23rd. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $120.67.

Crown Price Performance

CCK stock traded down $0.01 during trading on Monday, reaching $98.15. 649,618 shares of the company were exchanged, compared to its average volume of 1,294,783. 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 stock's 50 day moving average price is $102.76 and its 200 day moving average price is $94.15. Crown Holdings, Inc. has a 52-week low of $75.98 and a 52-week high of $109.48. The company has a market cap of $11.42 billion, a P/E ratio of 20.63, a PEG ratio of 1.50 and a beta of 0.74.

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

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders 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 dividend on an annualized basis and a yield of 1.1%. Crown's payout ratio is presently 21.85%.

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.