Worldquant Millennium Advisors LLC Grows Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

Worldquant Millennium Advisors LLC boosted its position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 216.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 335,902 shares of the industrial products company's stock after acquiring an additional 229,705 shares during the period. Worldquant Millennium Advisors LLC owned 0.28% of Crown worth $27,776,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its stake in shares of Crown by 160.0% during the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock worth $34,000 after acquiring an additional 256 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted 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 purchasing an additional 117 shares in the last quarter. Colonial Trust Co SC grew its position in Crown by 88.0% during the 4th quarter. Colonial Trust Co SC now owns 752 shares of the industrial products company's stock worth $62,000 after purchasing an additional 352 shares during the last quarter. Venturi Wealth Management LLC increased its stake in Crown by 48.6% during the 4th quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company's stock valued at $68,000 after purchasing an additional 269 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings 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 buying an additional 647 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Crown Stock Performance

Shares of CCK traded down $1.00 during trading hours on Monday, hitting $97.08. The stock had a trading volume of 913,080 shares, compared to its average volume of 1,222,350. The firm has a 50-day moving average price of $90.70 and a 200 day moving average price of $88.61. Crown Holdings, Inc. has a fifty-two week low of $70.84 and a fifty-two week high of $100.24. The firm has a market capitalization of $11.30 billion, a price-to-earnings ratio of 27.27, a PEG ratio of 1.56 and a beta of 0.76. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22.

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 company had revenue of $2.89 billion during the quarter, compared to analysts' expectations of $2.82 billion. Crown had a net margin of 3.59% and a return on equity of 25.12%. The firm's revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.02 earnings per share. As a group, research analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Thursday, May 15th. Crown's payout ratio is 22.37%.

Insider Activity

In related news, VP Christy L. Kalaus sold 2,130 shares of Crown stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $99.41, for a total value of $211,743.30. Following the sale, the vice president now directly owns 4,500 shares in the company, valued at approximately $447,345. The trade was a 32.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Gerard H. Gifford sold 7,000 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 135,014 shares of the company's stock, valued at $13,096,358. The trade was a 4.93% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.90% of the company's stock.

Analysts Set New Price Targets

CCK has been the topic of a number of research reports. Truist Financial cut their price objective on Crown from $107.00 to $97.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Royal Bank of Canada upped their target price on Crown from $115.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Wells Fargo & Company raised their price target on shares of Crown from $89.00 to $101.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. Barclays lifted their price objective 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. Finally, UBS Group increased their price objective on shares of Crown from $109.00 to $114.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $110.45.

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.