Wellington Management Group LLP Boosts Position in Crown Holdings, Inc. (NYSE:CCK)

Wellington Management Group LLP boosted its stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 720,523 shares of the industrial products company's stock after purchasing an additional 3,708 shares during the period. Wellington Management Group LLP owned approximately 0.61% of Crown worth $59,580,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CCK. Farther Finance Advisors LLC increased its holdings in Crown by 160.0% during the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock valued at $34,000 after buying an additional 256 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Crown by 20.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company's stock worth $57,000 after buying an additional 117 shares in the last quarter. Colonial Trust Co SC raised its holdings in Crown by 88.0% during the fourth quarter. Colonial Trust Co SC now owns 752 shares of the industrial products company's stock valued at $62,000 after acquiring an additional 352 shares during the period. Venturi Wealth Management LLC lifted its position in shares of Crown by 48.6% in the fourth quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company's stock valued at $68,000 after acquiring an additional 269 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of Crown by 325.1% in the fourth quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company's stock worth $70,000 after acquiring an additional 647 shares during the period. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Crown Stock Performance

NYSE:CCK traded up $1.14 during midday trading on Tuesday, hitting $97.86. The company's stock had a trading volume of 424,593 shares, compared to its average volume of 1,222,890. Crown Holdings, Inc. has a fifty-two week low of $70.84 and a fifty-two week high of $100.24. The firm's 50 day moving average is $91.78 and its 200-day moving average is $88.84. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.22 and a quick ratio of 0.80. The firm has a market cap of $11.39 billion, a P/E ratio of 27.49, a P/E/G ratio of 1.56 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 for the quarter, topping the consensus estimate of $1.22 by $0.45. Crown had a net margin of 3.59% and a return on equity of 25.12%. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the prior year, the company earned $1.02 EPS. Crown's quarterly revenue was up 3.7% on a year-over-year basis. Equities analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Thursday, May 15th. Crown's dividend payout ratio (DPR) is presently 22.37%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CCK. Wall Street Zen raised Crown from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Truist Financial lowered their target price on shares of Crown from $107.00 to $97.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. UBS Group raised their target price on shares of Crown from $109.00 to $114.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Barclays boosted their price target on shares of Crown from $109.00 to $117.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Finally, Royal Bank of Canada boosted their price target on shares of Crown from $115.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Crown currently has a consensus rating of "Moderate Buy" and an average price target of $110.45.

Insider Transactions at Crown

In other Crown news, VP Christy L. Kalaus sold 2,130 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $99.41, for a total value of $211,743.30. Following the transaction, the vice president now owns 4,500 shares in the company, valued at approximately $447,345. This trade represents a 32.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Gerard H. Gifford sold 7,000 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $97.00, for a total value of $679,000.00. Following the completion of the transaction, the chief operating officer now owns 135,014 shares in the company, valued at $13,096,358. The trade was a 4.93% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company's stock.

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.