Sone Capital Management LLC Makes New $5.44 Million Investment in Crown Holdings, Inc. (NYSE:CCK)

Sone Capital Management LLC purchased a new stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 65,839 shares of the industrial products company's stock, valued at approximately $5,444,000. Sone Capital Management LLC owned about 0.06% of Crown at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CCK. Pacer Advisors Inc. boosted its holdings in Crown by 10,138.8% in the fourth quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company's stock valued at $256,762,000 after acquiring an additional 3,074,791 shares during the last quarter. Norges Bank bought a new stake in shares of Crown in the 4th quarter valued at $113,568,000. Metropolis Capital Ltd increased its position in shares of Crown by 68.7% during the fourth quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company's stock worth $203,116,000 after buying an additional 1,000,605 shares during the period. Thompson Siegel & Walmsley LLC bought a new position in Crown during the fourth quarter worth $66,732,000. Finally, Vulcan Value Partners LLC lifted its holdings in Crown by 450.5% in the fourth quarter. Vulcan Value Partners LLC now owns 823,691 shares of the industrial products company's stock valued at $68,027,000 after buying an additional 674,072 shares during the period. Institutional investors and hedge funds own 90.93% of the company's stock.

Wall Street Analyst Weigh In

CCK has been the subject of a number of recent analyst reports. 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. Truist Financial decreased their target price on Crown from $107.00 to $97.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. Royal Bank of Canada lifted their target price on Crown from $115.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. 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. Finally, Mizuho raised their price objective on shares of Crown from $105.00 to $110.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $110.45.

Crown Price Performance

Shares of CCK opened at $99.42 on Monday. The business's fifty day moving average is $89.75 and its 200 day moving average is $88.43. Crown Holdings, Inc. has a 12-month low of $70.84 and a 12-month high of $101.50. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. The stock has a market cap of $11.57 billion, a P/E ratio of 27.93, a P/E/G ratio of 1.56 and a beta of 0.76.

Crown (NYSE:CCK - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The industrial products company reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.22 by $0.45. The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.82 billion. Crown had a net margin of 3.59% and a return on equity of 25.12%. The business's quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm earned $1.02 earnings per share. Sell-side analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.05%. The ex-dividend date is Thursday, May 15th. Crown's dividend payout ratio (DPR) is presently 22.37%.

Insider Activity

In other Crown news, COO Gerard H. Gifford sold 7,000 shares of Crown stock in a transaction dated 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 owns 135,014 shares of the company's stock, valued at $13,096,358. The trade was a 4.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.90% of the stock is owned by company insiders.

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.

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