Perpetual Ltd Raises Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Perpetual Ltd raised its position in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 22.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 133,515 shares of the industrial products company's stock after purchasing an additional 24,120 shares during the quarter. Perpetual Ltd owned about 0.11% of Crown worth $11,918,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in Crown by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 812,474 shares of the industrial products company's stock worth $67,183,000 after acquiring an additional 8,739 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Crown by 588.0% during the 4th quarter. NewEdge Advisors LLC now owns 5,566 shares of the industrial products company's stock worth $460,000 after purchasing an additional 4,757 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Crown during the 1st quarter worth about $820,000. State of Alaska Department of Revenue raised its holdings in Crown by 1.6% in 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 buying an additional 215 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Crown in the fourth quarter valued at about $8,466,000. Institutional investors and hedge funds own 90.93% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CCK shares. Mizuho boosted their price target on shares of Crown from $105.00 to $110.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. UBS Group upped their price target on Crown from $109.00 to $114.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Morgan Stanley lifted their price objective on Crown from $114.00 to $118.00 and gave the company an "overweight" rating in a research note on Wednesday. Truist Financial cut their price objective on Crown from $107.00 to $97.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Finally, Wall Street Zen upgraded Crown from a "buy" rating to a "strong-buy" rating in a report on Saturday. Two 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. According to MarketBeat, Crown presently has a consensus rating of "Moderate Buy" and a consensus price target of $111.64.

Insider Activity at Crown

In other news, VP Christy L. Kalaus sold 2,130 shares of Crown 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 now owns 4,500 shares in the company, valued at approximately $447,345. The trade was a 32.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Gerard H. Gifford sold 7,000 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $97.00, for a total value of $679,000.00. Following the transaction, the chief operating officer now owns 135,014 shares in the company, valued at $13,096,358. This represents a 4.93% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Crown Stock Performance

Shares of Crown stock opened at $103.43 on Friday. The business has a 50-day simple moving average of $98.02 and a 200-day simple moving average of $90.25. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.56 and a current ratio of 0.87. Crown Holdings, Inc. has a one year low of $70.84 and a one year high of $105.38. The company has a market cap of $12.04 billion, a PE ratio of 22.24, a P/E/G ratio of 1.80 and a beta of 0.76.

Crown (NYSE:CCK - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.22 by $0.45. Crown had a net margin of 4.62% and a return on equity of 26.98%. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the previous year, the firm earned $1.02 earnings per share. The firm's quarterly revenue was up 3.7% on a year-over-year basis. On average, equities research analysts forecast 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. Investors of record on Thursday, May 15th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.04 annualized dividend and a yield of 1.01%. Crown's dividend payout ratio is currently 22.37%.

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.

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