Zurcher Kantonalbank Zurich Cantonalbank Trims Holdings in Crown Holdings, Inc. (NYSE:CCK)

Zurcher Kantonalbank Zurich Cantonalbank cut its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 0.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,360 shares of the industrial products company’s stock after selling 258 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of Crown worth $7,897,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. GAMMA Investing LLC grew its stake in Crown by 110.9% in the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 163 shares during the period. Covestor Ltd boosted its holdings in shares of Crown by 156.5% during the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 277 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Crown in the third quarter valued at $44,000. Blue Trust Inc. increased its stake in Crown by 172.6% in the second quarter. Blue Trust Inc. now owns 608 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 385 shares during the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new position in Crown during the third quarter worth about $48,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Stock Down 1.0 %

NYSE CCK opened at $92.09 on Monday. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. Crown Holdings, Inc. has a fifty-two week low of $69.61 and a fifty-two week high of $98.46. The business has a 50 day moving average price of $93.53 and a two-hundred day moving average price of $87.13. The stock has a market cap of $11.02 billion, a PE ratio of 113.69, a P/E/G ratio of 2.04 and a beta of 0.85.

Crown (NYSE:CCK) last announced its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.18. Crown had a net margin of 0.83% and a return on equity of 24.57%. The business had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.07 billion. As a group, sell-side analysts predict that Crown Holdings, Inc. will post 6.34 EPS for the current fiscal year.

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Thursday, November 14th. Crown’s payout ratio is 123.46%.

Wall Street Analysts Forecast Growth

CCK has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective on shares of Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Royal Bank of Canada upped their price target on shares of Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Loop Capital lifted their price target on shares of Crown from $120.00 to $129.00 and gave the company a “buy” rating in a report on Monday, October 21st. Truist Financial upped their price objective on Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Finally, Citigroup lifted their target price on Crown from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $106.62.

Insider Buying and Selling

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total value of $725,475.00. Following the transaction, the chief executive officer now directly owns 563,678 shares of the company’s stock, valued at $54,524,572.94. This represents a 1.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James H. Miller sold 1,006 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $95.60, for a total transaction of $96,173.60. Following the sale, the director now directly owns 12,424 shares of the company’s stock, valued at $1,187,734.40. The trade was a 7.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,506 shares of company stock worth $3,157,399. 0.90% of the stock is currently owned by corporate insiders.

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.