State Street Corp Buys 69,260 Shares of Crown Holdings, Inc. (NYSE:CCK)

State Street Corp increased its stake in Crown Holdings, Inc. (NYSE:CCK) by 1.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 4,000,402 shares of the industrial products company’s stock after acquiring an additional 69,260 shares during the period. State Street Corp’s holdings in Crown were worth $383,559,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. SYM FINANCIAL Corp bought a new position in shares of Crown in the 3rd quarter worth approximately $239,000. Quadrature Capital Ltd grew its stake in Crown by 26.6% in the third quarter. Quadrature Capital Ltd now owns 12,914 shares of the industrial products company’s stock worth $1,238,000 after purchasing an additional 2,716 shares during the period. Quantinno Capital Management LP raised its holdings in Crown by 128.2% in the third quarter. Quantinno Capital Management LP now owns 26,999 shares of the industrial products company’s stock worth $2,589,000 after purchasing an additional 15,170 shares in the last quarter. Reynders McVeigh Capital Management LLC lifted its position in Crown by 2.2% during the third quarter. Reynders McVeigh Capital Management LLC now owns 300,745 shares of the industrial products company’s stock valued at $28,835,000 after buying an additional 6,350 shares during the period. Finally, Point72 DIFC Ltd bought a new stake in shares of Crown during the 3rd quarter valued at $425,000. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CCK has been the subject of a number of recent research reports. Morgan Stanley lifted their price target on shares of Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Royal Bank of Canada boosted their price target on Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Mizuho set a $110.00 price objective on Crown in a research report on Friday, October 18th. Loop Capital boosted their target price on Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Truist Financial raised their price target on Crown from $95.00 to $103.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $106.62.

Insider Buying and Selling at Crown

In related news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total value of $725,475.00. Following the completion of the sale, the chief executive officer now directly owns 563,678 shares of the company’s stock, valued at approximately $54,524,572.94. This represents a 1.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 owns 12,424 shares in the company, valued at approximately $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 ninety days, insiders sold 26,006 shares of company stock valued at $2,478,049. Insiders own 0.90% of the company’s stock.

Crown Trading Down 0.2 %

NYSE:CCK opened at $88.21 on Tuesday. The company has a market cap of $10.55 billion, a PE ratio of 108.90, a price-to-earnings-growth ratio of 1.96 and a beta of 0.84. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19. The company has a 50 day simple moving average of $92.95 and a two-hundred day simple moving average of $87.37. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $98.46.

Crown (NYSE:CCK) last posted its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.18. Crown had a return on equity of 24.57% and a net margin of 0.83%. The company had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Research analysts forecast that Crown Holdings, Inc. will post 6.34 earnings per share for the current year.

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.13%. Crown’s dividend payout ratio (DPR) is 123.46%.

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.