The Manufacturers Life Insurance Company Sells 2,883 Shares of Crown Holdings, Inc. (NYSE:CCK)

The Manufacturers Life Insurance Company lessened its stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 96,234 shares of the industrial products company's stock after selling 2,883 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.08% of Crown worth $7,958,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC boosted 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 worth $34,000 after purchasing an additional 256 shares during the last quarter. GAMMA Investing LLC raised its holdings in Crown by 84.2% during the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company's stock worth $47,000 after acquiring an additional 261 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Crown by 20.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company's stock valued at $57,000 after purchasing an additional 117 shares during the last quarter. Venturi Wealth Management LLC grew its stake in 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 purchasing an additional 269 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its position in shares of Crown by 325.1% during the 4th quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company's stock worth $70,000 after purchasing an additional 647 shares during the last quarter. 90.93% of the stock is owned by institutional investors.

Insider Activity at Crown

In other news, COO Gerard H. Gifford sold 7,000 shares of the company'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 sale, the chief operating officer now owns 135,014 shares in the company, valued at $13,096,358. This represents a 4.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

Crown Price Performance

Shares of CCK stock traded up $0.90 during trading hours on Monday, reaching $97.88. The company's stock had a trading volume of 96,766 shares, compared to its average volume of 1,197,725. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. Crown Holdings, Inc. has a fifty-two week low of $70.84 and a fifty-two week high of $99.49. The company has a market capitalization of $11.39 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 1.56 and a beta of 0.76. The firm's 50 day simple moving average is $88.87 and its 200-day simple moving average is $88.28.

Crown (NYSE:CCK - Get Free Report) last announced 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. The firm 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 company's revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.02 EPS. Sell-side analysts forecast 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 will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.06%. Crown's payout ratio is presently 22.37%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CCK. StockNews.com raised shares of Crown from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Royal Bank of Canada lifted their price objective on shares of Crown from $115.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Truist Financial dropped 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. Morgan Stanley upgraded Crown from an "equal weight" rating to an "overweight" rating and reduced their price target for the stock from $109.00 to $105.00 in a report on Monday, January 13th. Finally, Barclays upped their price objective on Crown from $109.00 to $117.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $110.45.

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.