Regents Gate Capital LLP raised its position in shares of Crown Holdings, Inc. (NYSE:CCK – Free Report) by 276.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 104,999 shares of the industrial products company’s stock after buying an additional 77,101 shares during the quarter. Crown accounts for 2.2% of Regents Gate Capital LLP’s portfolio, making the stock its 22nd largest position. Regents Gate Capital LLP owned about 0.09% of Crown worth $10,526,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. State Street Corp lifted its position in shares of Crown by 2.1% in the 3rd quarter. State Street Corp now owns 4,514,736 shares of the industrial products company’s stock valued at $436,078,000 after acquiring an additional 93,045 shares in the last quarter. AQR Capital Management LLC grew its position in Crown by 19.3% during the 4th quarter. AQR Capital Management LLC now owns 4,137,962 shares of the industrial products company’s stock worth $426,086,000 after purchasing an additional 670,412 shares in the last quarter. Invesco Ltd. grew its position in Crown by 33.6% during the 4th quarter. Invesco Ltd. now owns 3,526,983 shares of the industrial products company’s stock worth $363,173,000 after purchasing an additional 886,471 shares in the last quarter. Swedbank AB raised its stake in Crown by 1.9% during the 4th quarter. Swedbank AB now owns 2,541,183 shares of the industrial products company’s stock valued at $261,666,000 after purchasing an additional 47,613 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Crown by 12.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,945,011 shares of the industrial products company’s stock valued at $200,286,000 after purchasing an additional 215,898 shares during the period. 90.93% of the stock is owned by hedge funds and other institutional investors.
Crown Trading Up 0.3%
Shares of NYSE:CCK opened at $117.36 on Friday. The firm has a fifty day moving average of $102.90 and a two-hundred day moving average of $104.72. The company has a quick ratio of 0.70, a current ratio of 1.12 and a debt-to-equity ratio of 1.67. Crown Holdings, Inc. has a 12-month low of $89.21 and a 12-month high of $118.50. The firm has a market capitalization of $13.11 billion, a P/E ratio of 18.69, a price-to-earnings-growth ratio of 1.96 and a beta of 0.60.
Crown Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 14th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. Crown’s dividend payout ratio (DPR) is 22.29%.
Analysts Set New Price Targets
CCK has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Crown in a research report on Wednesday, July 8th. Royal Bank Of Canada upped their price target on Crown from $129.00 to $131.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Wells Fargo & Company increased their price objective on Crown from $109.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft initiated coverage on Crown in a research report on Wednesday, April 1st. They set a “buy” rating and a $124.00 price objective for the company. Finally, Bank of America lifted their target price on Crown from $129.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $124.07.
View Our Latest Stock Report on CCK
Insider Activity
In related news, CEO Timothy J. Donahue sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $105.00, for a total value of $1,575,000.00. Following the completion of the sale, the chief executive officer owned 436,070 shares of the company’s stock, valued at approximately $45,787,350. The trade was a 3.33% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.90% of the stock is currently owned by corporate insiders.
About Crown
Crown Holdings, Inc is a leading global supplier of rigid packaging products for consumer goods markets. The company designs, manufactures and sells metal packaging for beverage, food, household, personal care and specialty products. Its portfolio includes aluminum and steel beverage cans, steel food cans, aluminum aerosols, metal closures and ends, offering customers end-to-end solutions from design and prototyping to large-scale production.
Founded in 1919 as the Crown Cork & Seal Company, Crown has grown through strategic acquisitions and investments in advanced manufacturing technologies.
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