Victory Capital Management Inc. Sells 530,748 Shares of Crown Holdings, Inc. (NYSE:CCK)

Victory Capital Management Inc. lowered its position in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 9.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,248,943 shares of the industrial products company's stock after selling 530,748 shares during the quarter. Crown makes up approximately 0.5% of Victory Capital Management Inc.'s holdings, making the stock its 28th biggest position. Victory Capital Management Inc. owned about 4.49% of Crown worth $468,521,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted 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 acquiring an additional 1,091 shares in the last quarter. GAMMA Investing LLC boosted 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 acquiring an additional 630 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Crown during the 1st quarter worth about $820,000. State of Alaska Department of Revenue boosted its stake in shares of Crown by 1.6% during the 1st quarter. State of Alaska Department of Revenue now owns 13,695 shares of the industrial products company's stock worth $1,222,000 after acquiring an additional 215 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake 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 acquiring an additional 4,757 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on CCK shares. UBS Group increased their target price on Crown from $114.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Mizuho increased their target price on Crown from $110.00 to $127.00 and gave the stock an "outperform" rating in a report on Tuesday. Baird R W lowered Crown from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Wells Fargo & Company increased their price objective on Crown from $89.00 to $101.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. Finally, Truist Financial increased their price objective on Crown from $110.00 to $117.00 and gave the company a "hold" rating in a research report on Friday, July 11th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $118.64.

Crown Trading Down 0.6%

Crown stock traded down $0.65 during mid-day trading on Friday, hitting $105.66. 150,009 shares of the company's stock were exchanged, compared to its average volume of 1,232,836. The firm has a market capitalization of $12.30 billion, a P/E ratio of 22.75, a PEG ratio of 1.74 and a beta of 0.76. Crown Holdings, Inc. has a fifty-two week low of $75.98 and a fifty-two week high of $109.48. The company has a quick ratio of 0.56, a current ratio of 0.87 and a debt-to-equity ratio of 1.50. The company's 50 day simple moving average is $101.89 and its 200-day simple moving average is $92.40.

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 the consensus estimate of $1.22 by $0.45. Crown had a return on equity of 26.98% and a net margin of 4.62%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter last year, the business posted $1.02 EPS. The company's revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Thursday, May 15th. Crown's dividend payout ratio is currently 22.37%.

Insider Transactions at Crown

In other Crown 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 transaction of $211,743.30. Following the transaction, the vice president owned 4,500 shares of the company's stock, valued at $447,345. The trade was a 32.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Gerard H. Gifford sold 7,000 shares of the business'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 directly owned 135,014 shares in the company, valued at approximately $13,096,358. This trade represents a 4.93% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

About Crown

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.