Crown Holdings, Inc. (NYSE:CCK) is Iridian Asset Management LLC CT's 8th Largest Position

Iridian Asset Management LLC CT reduced its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 11.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 197,782 shares of the industrial products company's stock after selling 24,510 shares during the quarter. Crown makes up about 5.5% of Iridian Asset Management LLC CT's portfolio, making the stock its 8th biggest holding. Iridian Asset Management LLC CT owned 0.17% of Crown worth $17,654,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CCK. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Crown by 155.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,793 shares of the industrial products company's stock valued at $158,000 after acquiring an additional 1,091 shares during the period. GAMMA Investing LLC lifted its position in shares of Crown by 110.3% during the 1st quarter. GAMMA Investing LLC now owns 1,201 shares of the industrial products company's stock valued at $107,000 after acquiring an additional 630 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Crown by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 812,474 shares of the industrial products company's stock valued at $67,183,000 after acquiring an additional 8,739 shares during the period. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Crown during the 1st quarter valued at $820,000. Finally, State of Alaska Department of Revenue lifted its position in shares of Crown by 1.6% during 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. 90.93% of the stock is currently owned by institutional investors.

Crown Stock Down 0.2%

Shares of NYSE:CCK traded down $0.25 during trading on Friday, hitting $107.20. The stock had a trading volume of 790,270 shares, compared to its average volume of 1,237,736. Crown Holdings, Inc. has a 12 month low of $75.33 and a 12 month high of $109.48. The company has a market capitalization of $12.48 billion, a PE ratio of 23.05, a PEG ratio of 1.75 and a beta of 0.76. The firm's fifty day moving average is $101.16 and its 200 day moving average is $91.76. The company has a quick ratio of 0.56, a current ratio of 0.87 and a debt-to-equity ratio of 1.50.

Crown (NYSE:CCK - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.45. The company had revenue of $2.89 billion for 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 firm's quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.02 EPS. Analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.26 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.04 dividend on an annualized basis and a yield of 0.97%. Crown's dividend payout ratio is presently 22.37%.

Insider Activity

In related news, COO Gerard H. Gifford sold 7,000 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $97.00, for a total transaction of $679,000.00. Following the completion of the transaction, the chief operating officer owned 135,014 shares in the company, valued at approximately $13,096,358. This represents a 4.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 completion of the sale, the vice president owned 4,500 shares of the company's stock, valued at $447,345. This trade represents a 32.13% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on CCK. Wells Fargo & Company boosted their price target on Crown from $89.00 to $101.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Royal Bank Of Canada boosted their price target on Crown from $115.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Citigroup upped their target price on Crown from $119.00 to $129.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Morgan Stanley increased their price target on Crown from $114.00 to $118.00 and gave the company an "overweight" rating in a research note on Wednesday, June 25th. Finally, Mizuho increased their price target on Crown from $105.00 to $110.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $117.55.

About Crown

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.