Swiss National Bank Sells 3,400 Shares of Crown Holdings, Inc. (NYSE:CCK)

Swiss National Bank cut its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 1.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 337,400 shares of the industrial products company's stock after selling 3,400 shares during the quarter. Swiss National Bank owned approximately 0.29% of Crown worth $30,116,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its stake 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 worth $158,000 after purchasing an additional 1,091 shares during the last quarter. GAMMA Investing LLC increased its stake 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 worth $107,000 after purchasing an additional 630 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Crown during the 1st quarter worth about $820,000. Nisa Investment Advisors LLC grew its stake in Crown by 4.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 2,858 shares of the industrial products company's stock valued at $256,000 after buying an additional 115 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake 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 last quarter. 90.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CCK. Barclays upped their price target on shares of Crown from $109.00 to $117.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Bank of America upped their price target on shares of Crown from $110.00 to $117.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. upped their price target on shares of Crown from $108.00 to $112.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada upped their price target on shares of Crown from $115.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Finally, Truist Financial reiterated a "hold" rating and issued a $118.00 price target (up previously from $117.00) on shares of Crown in a research note on Wednesday, July 23rd. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, Crown has a consensus rating of "Moderate Buy" and an average price target of $120.67.

Insider Activity at Crown

In related news, CAO Gerard H. Gifford sold 8,222 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $102.93, for a total value of $846,290.46. Following the completion of the transaction, the chief accounting officer owned 122,585 shares of the company's stock, valued at $12,617,674.05. This represents a 6.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Christy L. Kalaus sold 2,130 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $99.41, for a total transaction of $211,743.30. Following the completion of the transaction, the vice president directly owned 4,500 shares of the company's stock, valued at approximately $447,345. The trade was a 32.13% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Crown Price Performance

Shares of Crown stock traded down $1.66 on Thursday, reaching $101.18. 927,734 shares of the stock were exchanged, compared to its average volume of 1,388,481. The firm's 50 day moving average is $103.24 and its 200-day moving average is $94.88. Crown Holdings, Inc. has a one year low of $75.98 and a one year high of $109.48. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.06. The firm has a market cap of $11.77 billion, a PE ratio of 21.26, a P/E/G ratio of 1.57 and a beta of 0.74.

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

Crown Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $1.04 annualized dividend and a yield of 1.0%. Crown's dividend payout ratio is presently 21.85%.

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.