Crown Holdings, Inc. (NYSE:CCK) Holdings Boosted by Barclays PLC

Barclays PLC boosted its position in shares of Crown Holdings, Inc. (NYSE:CCK – Get Rating) by 102.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 194,051 shares of the industrial products company’s stock after purchasing an additional 98,274 shares during the period. Barclays PLC owned 0.16% of Crown worth $15,723,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CCK. Victory Capital Management Inc. grew its position in Crown by 5,833.3% during the 3rd quarter. Victory Capital Management Inc. now owns 3,115,827 shares of the industrial products company’s stock worth $252,476,000 after purchasing an additional 3,063,313 shares in the last quarter. Franklin Resources Inc. lifted its position in Crown by 43.3% during the 2nd quarter. Franklin Resources Inc. now owns 4,313,314 shares of the industrial products company’s stock worth $397,558,000 after acquiring an additional 1,302,722 shares during the last quarter. Millennium Management LLC lifted its position in Crown by 5,439.4% during the 2nd quarter. Millennium Management LLC now owns 1,081,566 shares of the industrial products company’s stock worth $99,688,000 after acquiring an additional 1,062,041 shares during the last quarter. FMR LLC lifted its position in Crown by 19.3% during the 2nd quarter. FMR LLC now owns 6,232,142 shares of the industrial products company’s stock worth $574,417,000 after acquiring an additional 1,006,524 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Crown by 78.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,429,818 shares of the industrial products company’s stock worth $131,787,000 after acquiring an additional 629,607 shares during the last quarter.

Crown Price Performance

CCK opened at $87.26 on Wednesday. The company’s 50 day simple moving average is $82.85 and its 200-day simple moving average is $86.22. Crown Holdings, Inc. has a one year low of $66.00 and a one year high of $130.42. The stock has a market capitalization of $10.47 billion, a P/E ratio of -32.08, a price-to-earnings-growth ratio of 2.57 and a beta of 1.07. The company has a debt-to-equity ratio of 3.14, a current ratio of 1.24 and a quick ratio of 0.69.

Crown (NYSE:CCK – Get Rating) last announced its quarterly earnings data on Monday, October 24th. The industrial products company reported $1.46 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($0.30). Crown had a negative net margin of 2.80% and a positive return on equity of 39.93%. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the prior year, the company earned $2.03 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. Sell-side analysts anticipate that Crown Holdings, Inc. will post 6.65 earnings per share for the current fiscal year.

Crown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 25th. Investors of record on Thursday, November 10th were issued a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, November 9th. This represents a $0.88 annualized dividend and a yield of 1.01%. Crown’s dividend payout ratio is currently -32.35%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Royal Bank of Canada cut their target price on shares of Crown from $110.00 to $81.00 and set an “outperform” rating for the company in a research report on Friday, October 28th. BMO Capital Markets cut their target price on shares of Crown from $140.00 to $100.00 in a research report on Wednesday, October 26th. Bank of America cut their target price on shares of Crown from $106.00 to $105.00 in a research report on Thursday, October 13th. Credit Suisse Group cut their price objective on shares of Crown from $128.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 26th. Finally, Mizuho upped their price objective on shares of Crown from $96.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, January 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Crown has a consensus rating of “Moderate Buy” and a consensus price target of $95.27.

About Crown

(Get Rating)

Crown Holdings, Inc engages in the design, manufacture, and sale of packaging products and equipment for consumer goods. The firm offers aerosol cans, beverage, promotional, and transit packaging, closures and capping, and food cans. It operates through the following segments: Americas, Europe, Asia Pacific, and Transit Packaging.