Mackenzie Financial Corp Purchases 5,090 Shares of Crown Holdings, Inc. (NYSE:CCK)

Mackenzie Financial Corp boosted its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 112.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,620 shares of the industrial products company's stock after purchasing an additional 5,090 shares during the period. Mackenzie Financial Corp's holdings in Crown were worth $795,000 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. Victory Capital Management Inc. lifted its stake in shares of Crown by 1.8% in the 4th quarter. Victory Capital Management Inc. now owns 5,779,691 shares of the industrial products company's stock valued at $477,923,000 after acquiring an additional 102,789 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Crown by 10.5% in the 4th quarter. Bank of New York Mellon Corp now owns 2,967,810 shares of the industrial products company's stock valued at $245,408,000 after acquiring an additional 283,014 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Crown by 30.6% in the 4th quarter. AQR Capital Management LLC now owns 1,705,081 shares of the industrial products company's stock valued at $140,720,000 after acquiring an additional 399,842 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Crown by 0.8% in the 4th 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 last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Crown by 22.0% in the 4th 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 last quarter. 90.93% of the stock is currently owned by institutional investors.

Crown Stock Up 0.3%

CCK stock traded up $0.32 during mid-day trading on Thursday, reaching $97.68. 722,375 shares of the company traded hands, compared to its average volume of 1,229,195. The stock has a market cap of $11.37 billion, a price-to-earnings ratio of 27.44, a P/E/G ratio of 1.56 and a beta of 0.76. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. Crown Holdings, Inc. has a fifty-two week low of $70.84 and a fifty-two week high of $100.24. The firm's 50 day moving average price is $92.30 and its 200 day moving average price is $89.02.

Crown (NYSE:CCK - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share (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 the consensus estimate of $2.82 billion. Crown had a return on equity of 25.12% and a net margin of 3.59%. The company's quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.02 EPS. As a group, equities research analysts predict that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were paid 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 1.06%. Crown's dividend payout ratio (DPR) is currently 22.37%.

Insider Transactions at Crown

In other news, VP Christy L. Kalaus sold 2,130 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $99.41, for a total value of $211,743.30. Following the transaction, the vice president now owns 4,500 shares in the company, valued at $447,345. The trade was a 32.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Gerard H. Gifford sold 7,000 shares of Crown stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $97.00, for a total transaction of $679,000.00. Following the completion of the sale, the chief operating officer now directly owns 135,014 shares in the company, valued at $13,096,358. This trade represents a 4.93% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Royal Bank of Canada raised their target price on Crown from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Barclays increased their price target on Crown from $109.00 to $117.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Wells Fargo & Company increased 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. UBS Group increased their price target on Crown from $109.00 to $114.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Finally, Mizuho increased their price target on Crown from $105.00 to $110.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $110.45.

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.