Perpetual Ltd Grows Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

Perpetual Ltd raised its stake in Crown Holdings, Inc. (NYSE:CCK) by 10.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 77,339 shares of the industrial products company’s stock after buying an additional 7,288 shares during the period. Perpetual Ltd owned about 0.06% of Crown worth $6,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP boosted its position in Crown by 55.6% in the 3rd quarter. Hudson Bay Capital Management LP now owns 70,000 shares of the industrial products company’s stock valued at $6,194,000 after buying an additional 25,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Crown by 245.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,808 shares of the industrial products company’s stock worth $5,784,000 after purchasing an additional 44,630 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Crown by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,320,502 shares of the industrial products company’s stock worth $121,614,000 after purchasing an additional 44,195 shares during the period. Louisiana State Employees Retirement System purchased a new stake in shares of Crown in the 4th quarter worth approximately $3,122,000. Finally, Wellington Management Group LLP lifted its position in shares of Crown by 4.1% in the 3rd quarter. Wellington Management Group LLP now owns 504,720 shares of the industrial products company’s stock worth $44,658,000 after purchasing an additional 19,666 shares during the period. 90.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Crown

In related news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $85.00, for a total transaction of $637,500.00. Following the sale, the chief executive officer now owns 608,678 shares in the company, valued at $51,737,630. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $85.00, for a total transaction of $637,500.00. Following the sale, the chief executive officer now owns 608,678 shares in the company, valued at $51,737,630. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James H. Miller sold 9,000 shares of Crown stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $82.93, for a total transaction of $746,370.00. Following the completion of the sale, the director now owns 12,884 shares in the company, valued at approximately $1,068,470.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,000 shares of company stock worth $3,300,420. 0.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Crown from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Truist Financial reiterated a “hold” rating and set a $88.00 price objective (down previously from $100.00) on shares of Crown in a research note on Wednesday, March 27th. Wells Fargo & Company increased their target price on shares of Crown from $76.00 to $84.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. Loop Capital increased their target price on shares of Crown from $101.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Robert W. Baird increased their target price on shares of Crown from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Four 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 an average rating of “Moderate Buy” and a consensus target price of $99.29.

Crown Trading Up 1.1 %

NYSE CCK opened at $77.25 on Friday. The company has a fifty day simple moving average of $81.43 and a two-hundred day simple moving average of $82.76. The stock has a market cap of $9.33 billion, a P/E ratio of 22.26, a P/E/G ratio of 2.02 and a beta of 0.88. Crown Holdings, Inc. has a 12-month low of $69.61 and a 12-month high of $96.35. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 2.26.

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

Crown Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 13th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.00 annualized dividend and a yield of 1.29%. Crown’s dividend payout ratio is presently 28.82%.

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.