Geode Capital Management LLC raised its stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 4.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,061,869 shares of the industrial products company's stock after buying an additional 82,764 shares during the period. Geode Capital Management LLC owned approximately 1.72% of Crown worth $197,242,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Crown by 4.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 249,041 shares of the industrial products company's stock worth $23,878,000 after purchasing an additional 10,295 shares during the period. Sei Investments Co. increased its stake in Crown by 139.2% in the 2nd quarter. Sei Investments Co. now owns 122,380 shares of the industrial products company's stock worth $9,104,000 after purchasing an additional 71,227 shares in the last quarter. Jensen Investment Management Inc. raised its holdings in Crown by 7.8% during the 3rd quarter. Jensen Investment Management Inc. now owns 100,918 shares of the industrial products company's stock worth $9,676,000 after buying an additional 7,280 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Crown by 62.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 23,142 shares of the industrial products company's stock valued at $1,722,000 after buying an additional 8,857 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Crown by 7.8% in the third quarter. Victory Capital Management Inc. now owns 5,676,902 shares of the industrial products company's stock worth $544,301,000 after buying an additional 412,973 shares during the period. Institutional investors and hedge funds own 90.93% of the company's stock.
In other Crown news, COO Gerard H. Gifford sold 10,000 shares of the company's stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the completion of the sale, the chief operating officer now directly owns 114,402 shares in the company, valued at $10,970,007.78. This represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the firm's stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $93.00, for a total value of $697,500.00. Following the completion of the sale, the chief executive officer now directly owns 571,178 shares in the company, valued at approximately $53,119,554. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,006 shares of company stock worth $2,478,049. 0.90% of the stock is owned by corporate insiders.
CCK has been the topic of a number of recent analyst reports. Mizuho set a $110.00 price target on shares of Crown in a report on Friday, October 18th. Loop Capital increased their target price on Crown from $120.00 to $129.00 and gave the company a "buy" rating in a report on Monday, October 21st. Barclays lifted their price target on Crown from $100.00 to $112.00 and gave the company an "overweight" rating in a report on Monday, October 21st. Robert W. Baird increased their price objective on Crown from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday, October 21st. Finally, StockNews.com raised Crown from a "hold" rating to a "buy" rating in a research note on Saturday, October 26th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Crown presently has an average rating of "Moderate Buy" and an average target price of $106.62.
View Our Latest Analysis on CCK
Shares of NYSE CCK opened at $87.88 on Monday. The business has a 50 day simple moving average of $92.45 and a 200 day simple moving average of $87.51. Crown Holdings, Inc. has a 52 week low of $69.61 and a 52 week high of $98.46. The stock has a market cap of $10.51 billion, a price-to-earnings ratio of 108.49, a PEG ratio of 1.95 and a beta of 0.83. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21.
Crown (NYSE:CCK - Get Free Report) last posted its earnings results on Thursday, October 17th. The industrial products company reported $1.99 EPS for the quarter, topping the consensus estimate of $1.81 by $0.18. The company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. On average, research analysts predict that Crown Holdings, Inc. will post 6.34 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a $0.25 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.14%. Crown's dividend payout ratio is currently 123.46%.
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.
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