Vanguard Group Inc. Has $1.09 Billion Holdings in Crown Holdings, Inc. (NYSE:CCK)

Vanguard Group Inc. raised its stake in Crown Holdings, Inc. (NYSE:CCK) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,825,703 shares of the industrial products company’s stock after buying an additional 173,460 shares during the quarter. Vanguard Group Inc. owned 9.79% of Crown worth $1,089,029,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CCK. Wellington Management Group LLP increased its stake in shares of Crown by 37.5% in the fourth quarter. Wellington Management Group LLP now owns 693,795 shares of the industrial products company’s stock worth $63,892,000 after acquiring an additional 189,075 shares during the last quarter. Beacon Financial Group purchased a new stake in shares of Crown during the 4th quarter worth about $388,000. Quarry LP lifted its holdings in shares of Crown by 190.3% during the 4th quarter. Quarry LP now owns 421 shares of the industrial products company’s stock valued at $39,000 after buying an additional 276 shares during the last quarter. Aurora Investment Counsel grew its stake in shares of Crown by 4.2% in the 4th quarter. Aurora Investment Counsel now owns 14,894 shares of the industrial products company’s stock valued at $1,469,000 after buying an additional 604 shares in the last quarter. Finally, Grand Jean Capital Management Inc. increased its holdings in Crown by 28.8% in the fourth quarter. Grand Jean Capital Management Inc. now owns 140,384 shares of the industrial products company’s stock worth $12,928,000 after buying an additional 31,401 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CCK. Truist Financial reissued a “hold” rating and issued a $88.00 target price (down from $100.00) on shares of Crown in a research report on Wednesday, March 27th. Robert W. Baird increased their price objective on Crown from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Morgan Stanley initiated coverage on Crown in a report on Monday, March 18th. They issued an “equal weight” rating and a $87.00 target price for the company. Loop Capital increased their price target on Crown from $101.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Crown from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Crown has a consensus rating of “Moderate Buy” and a consensus price target of $99.29.

Crown Stock Up 1.1 %

NYSE CCK opened at $77.25 on Friday. Crown Holdings, Inc. has a twelve month low of $69.61 and a twelve month high of $96.35. The stock has a market cap of $9.33 billion, a PE ratio of 22.26, a PEG ratio of 2.02 and a beta of 0.88. The firm has a 50-day simple moving average of $81.43 and a 200 day simple moving average of $82.76. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.77 and a current ratio of 1.19.

Crown (NYSE:CCK) last announced its quarterly earnings data on Monday, April 29th. The industrial products company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.06. The company had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.93 billion. Crown had a return on equity of 23.95% and a net margin of 3.51%. The company’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the company earned $1.20 EPS. On average, research analysts forecast that Crown Holdings, Inc. will post 5.95 EPS for the current year.

Crown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Thursday, June 13th. Crown’s payout ratio is 28.82%.

Insider Activity

In related news, CEO Timothy J. Donahue sold 22,500 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $85.18, for a total value of $1,916,550.00. Following the completion of the transaction, the chief executive officer now owns 616,178 shares of the company’s stock, valued at $52,486,042.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $85.00, for a total value of $637,500.00. Following the sale, the chief executive officer now owns 608,678 shares of the company’s stock, valued at approximately $51,737,630. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy J. Donahue sold 22,500 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $85.18, for a total value of $1,916,550.00. Following the transaction, the chief executive officer now owns 616,178 shares of the company’s stock, valued at $52,486,042.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,000 shares of company stock worth $3,300,420. 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.