Swiss National Bank Reduces Position in Crown Holdings, Inc. (NYSE:CCK)

Swiss National Bank trimmed its holdings in Crown Holdings, Inc. (NYSE:CCK) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 377,200 shares of the industrial products company’s stock after selling 9,100 shares during the quarter. Swiss National Bank owned approximately 0.31% of Crown worth $34,736,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BluePath Capital Management LLC purchased a new stake in shares of Crown in the third quarter valued at approximately $25,000. Sound Income Strategies LLC purchased a new stake in shares of Crown in the 4th quarter worth $26,000. Fifth Third Bancorp grew its position in shares of Crown by 46.0% during the 3rd quarter. Fifth Third Bancorp now owns 1,009 shares of the industrial products company’s stock worth $89,000 after buying an additional 318 shares in the last quarter. Picton Mahoney Asset Management increased its stake in shares of Crown by 53.9% during the third quarter. Picton Mahoney Asset Management now owns 1,036 shares of the industrial products company’s stock valued at $92,000 after buying an additional 363 shares during the period. Finally, Steph & Co. purchased a new stake in Crown in the third quarter worth about $111,000. 90.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CCK has been the subject of several recent research reports. Royal Bank of Canada reduced their price target on shares of Crown from $110.00 to $97.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. Wolfe Research began coverage on Crown in a report on Friday, March 1st. They issued an “outperform” rating and a $102.00 price target on the stock. Loop Capital upped their price objective on Crown from $101.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. lifted their target price on Crown from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Finally, Truist Financial reissued a “hold” rating and set a $88.00 price target (down from $100.00) on shares of Crown in a research report on Wednesday, March 27th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Crown has a consensus rating of “Moderate Buy” and an average target price of $99.29.

Crown Price Performance

NYSE:CCK opened at $83.84 on Wednesday. The firm has a market cap of $10.13 billion, a P/E ratio of 24.16, a price-to-earnings-growth ratio of 2.77 and a beta of 0.88. The stock has a 50 day moving average of $78.43 and a two-hundred day moving average of $82.70. 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 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. Crown had a return on equity of 23.95% and a net margin of 3.51%. The firm had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter last year, the business posted $1.20 earnings per share. The firm’s revenue was down 6.4% compared to the same quarter last year. On average, analysts expect that Crown Holdings, Inc. will post 5.94 earnings per share for the current fiscal year.

Crown Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 13th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.00 annualized dividend and a yield of 1.19%. Crown’s payout ratio is 28.82%.

Insiders Place Their Bets

In other news, CEO Timothy J. Donahue sold 22,500 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 616,178 shares in the company, valued at approximately $52,486,042.04. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.90% of the stock is owned by insiders.

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.