Lighthouse Investment Partners LLC Has $276,000 Position in Crown Holdings, Inc. (NYSE:CCK)

Lighthouse Investment Partners LLC lessened its holdings in Crown Holdings, Inc. (NYSE:CCK) by 79.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,343 shares of the industrial products company’s stock after selling 13,219 shares during the period. Lighthouse Investment Partners LLC’s holdings in Crown were worth $276,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CCK. Farther Finance Advisors LLC boosted its position in Crown by 160.0% during the 4th quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 256 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Crown by 20.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock worth $57,000 after acquiring an additional 117 shares during the last quarter. Colonial Trust Co SC boosted its position in Crown by 88.0% during the fourth quarter. Colonial Trust Co SC now owns 752 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 352 shares during the last quarter. Venturi Wealth Management LLC increased its position in Crown by 48.6% in the 4th quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company’s stock worth $68,000 after purchasing an additional 269 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its position in Crown by 325.1% in the 4th quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company’s stock worth $70,000 after purchasing an additional 647 shares during the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CCK. Royal Bank of Canada lifted their price target on Crown from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. UBS Group lifted their price objective on shares of Crown from $109.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Barclays increased their target price on shares of Crown from $109.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Truist Financial lowered their price objective on Crown from $107.00 to $97.00 and set a “hold” rating on the stock in a report on Tuesday, April 22nd. Finally, Mizuho boosted their target price on Crown from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, April 29th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Crown currently has a consensus rating of “Moderate Buy” and an average price target of $110.45.

Crown Price Performance

NYSE CCK opened at $99.58 on Friday. The stock has a market capitalization of $11.59 billion, a PE ratio of 27.97, a P/E/G ratio of 1.56 and a beta of 0.76. The stock has a 50-day simple moving average of $89.55 and a 200 day simple moving average of $88.49. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22. Crown Holdings, Inc. has a twelve month low of $70.84 and a twelve month high of $101.07.

Crown (NYSE:CCK) last announced its quarterly earnings data on Monday, April 28th. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.45. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.82 billion. Crown had a net margin of 3.59% and a return on equity of 25.12%. Crown’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company posted $1.02 earnings per share. Research analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Thursday, May 15th. Crown’s payout ratio is presently 22.37%.

Insider Transactions at Crown

In other news, COO Gerard H. Gifford sold 7,000 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $97.00, for a total value of $679,000.00. Following the completion of the transaction, the chief operating officer now directly owns 135,014 shares of the company’s stock, valued at approximately $13,096,358. This represents a 4.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.90% of the stock is owned by insiders.

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.