Crown Holdings, Inc. $CCK Shares Sold by Private Management Group Inc.

Private Management Group Inc. lessened its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 3.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 231,943 shares of the industrial products company’s stock after selling 7,991 shares during the period. Private Management Group Inc.’s holdings in Crown were worth $24,449,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its stake in shares of Crown by 13.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 142,128 shares of the industrial products company’s stock valued at $15,093,000 after acquiring an additional 16,752 shares during the period. Hohimer Wealth Management LLC increased its holdings in Crown by 16.8% in the 3rd quarter. Hohimer Wealth Management LLC now owns 40,922 shares of the industrial products company’s stock worth $4,314,000 after acquiring an additional 5,876 shares in the last quarter. Brighton Jones LLC increased its holdings in Crown by 31.9% in the 3rd quarter. Brighton Jones LLC now owns 5,148 shares of the industrial products company’s stock worth $543,000 after acquiring an additional 1,244 shares in the last quarter. Pictet Asset Management Holding SA raised its stake in Crown by 5.1% during the 3rd quarter. Pictet Asset Management Holding SA now owns 17,525 shares of the industrial products company’s stock worth $1,847,000 after acquiring an additional 858 shares during the period. Finally, Parallel Advisors LLC raised its stake in Crown by 13.4% during the 3rd quarter. Parallel Advisors LLC now owns 1,127 shares of the industrial products company’s stock worth $119,000 after acquiring an additional 133 shares during the period. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Crown Stock Performance

NYSE:CCK opened at $123.32 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 0.71 and a debt-to-equity ratio of 1.65. Crown Holdings, Inc. has a 12-month low of $91.31 and a 12-month high of $126.36. The stock has a 50-day moving average price of $113.21 and a 200 day moving average price of $109.02. The stock has a market capitalization of $13.32 billion, a P/E ratio of 17.18, a P/E/G ratio of 1.56 and a beta of 0.54.

Crown (NYSE:CCK) last issued its earnings results on Monday, October 19th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.13. Crown had a return on equity of 27.41% and a net margin of 5.78%. The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter last year, the company earned $2.24 EPS. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. Equities research analysts forecast that Crown Holdings, Inc. will post 8.41 EPS for the current fiscal year.

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Thursday, November 5th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, November 5th. Crown’s dividend payout ratio (DPR) is 19.50%.

Analysts Set New Price Targets

Several brokerages have weighed in on CCK. Mizuho lifted their price target on shares of Crown from $130.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, July 21st. Truist Financial reissued a “buy” rating and issued a $141.00 price objective (up from $129.00) on shares of Crown in a research note on Wednesday, July 22nd. Wall Street Zen downgraded shares of Crown from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Citigroup lifted their target price on shares of Crown from $137.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, October 21st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Crown in a research note on Wednesday, July 22nd. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $128.47.

Crown Company Profile

Crown Holdings, Inc is a global packaging company that designs and manufactures metal packaging for consumer goods and industrial products. Its products include beverage cans, food cans, aerosol containers, metal closures and other packaging components.

The company serves customers across a range of industries, including beverage, food, household and personal care, and industrial markets. Its operations span North America, Europe, Asia-Pacific and other international markets.

Crown traces its roots to 1892, when William Painter founded the Crown Cork and Seal Company in Baltimore.