Raiffeisen Bank International AG Has $8.55 Million Position in Crown Holdings, Inc. (NYSE:CCK)

Key Points

• Raiffeisen Bank International AG increased its stake in Crown Holdings by 38.5% during the first quarter, owning a total of 96,968 shares valued at $8.55 million.
• Crown Holdings reported an EPS of $2.15 for the previous quarter, surpassing expectations and indicating a 3.6% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.26 per share, with a dividend yield of 1.1% as of the ex-dividend date.

Raiffeisen Bank International AG raised its stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 38.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 96,968 shares of the industrial products company's stock after purchasing an additional 26,968 shares during the period. Raiffeisen Bank International AG owned 0.08% of Crown worth $8,553,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CCK. Vulcan Value Partners LLC lifted its holdings in Crown by 450.5% during the 4th quarter. Vulcan Value Partners LLC now owns 823,691 shares of the industrial products company's stock worth $68,027,000 after buying an additional 674,072 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Crown by 146.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,008,500 shares of the industrial products company's stock worth $83,393,000 after purchasing an additional 599,000 shares during the period. AQR Capital Management LLC lifted its position 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 worth $140,720,000 after buying an additional 399,842 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Crown by 488.4% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 361,411 shares of the industrial products company's stock valued at $29,885,000 after buying an additional 299,990 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in 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 acquiring an additional 279,596 shares during the period. Institutional investors and hedge funds own 90.93% of the company's stock.

Insider Transactions at Crown

In other news, VP Christy L. Kalaus sold 2,130 shares of Crown stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $99.41, for a total value of $211,743.30. Following the transaction, the vice president directly owned 4,500 shares of the company's stock, valued at $447,345. This trade represents a 32.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Gerard H. Gifford sold 8,222 shares of the company's stock in a transaction that occurred 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. This trade represents a 6.29% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

Crown Price Performance

CCK stock traded down $0.44 on Tuesday, hitting $98.05. 1,220,889 shares of the company's stock traded hands, compared to its average volume of 1,291,549. The stock has a market cap of $11.41 billion, a price-to-earnings ratio of 20.60, a P/E/G ratio of 1.51 and a beta of 0.74. Crown Holdings, Inc. has a 1-year low of $75.98 and a 1-year high of $109.48. The company has a current ratio of 1.06, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67. The stock has a fifty day moving average of $102.78 and a 200-day moving average of $94.27.

Crown (NYSE:CCK - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The industrial products company reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $1.86 by $0.29. The company had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.10 billion. Crown had a return on equity of 27.15% and a net margin of 4.64%. The company's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.81 EPS. On average, analysts forecast that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. Crown's dividend payout ratio is currently 21.85%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Royal Bank Of Canada lifted their target price on Crown from $115.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. UBS Group upped their price objective on Crown from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Citigroup reiterated a "buy" rating on shares of Crown in a research note on Wednesday, July 23rd. Wall Street Zen upgraded Crown from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Finally, Truist Financial reiterated a "hold" rating and set a $118.00 price target (up previously from $117.00) on shares of Crown in a research report on Wednesday, July 23rd. Four equities 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.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $120.67.

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.