Trust Co. of Vermont bought a new position in Crown Holdings, Inc. (NYSE:CCK – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 21,773 shares of the industrial products company’s stock, valued at approximately $2,435,000.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Caitong International Asset Management Co. Ltd purchased a new stake in Crown in the 3rd quarter worth about $29,000. Geneos Wealth Management Inc. grew its stake in Crown by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 356 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 111 shares in the last quarter. BOK Financial Private Wealth Inc. purchased a new position in Crown during the 4th quarter valued at about $42,000. Smartleaf Asset Management LLC increased its holdings in shares of Crown by 52.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 440 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 151 shares during the period. Finally, Root Financial Partners LLC increased its holdings in shares of Crown by 23.8% in the 4th quarter. Root Financial Partners LLC now owns 473 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 91 shares during the period. Hedge funds and other institutional investors own 90.93% of the company’s stock.
Crown Trading Down 2.2%
Shares of NYSE:CCK opened at $116.36 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 0.65 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $12.66 billion, a PE ratio of 16.74, a P/E/G ratio of 1.67 and a beta of 0.59. Crown Holdings, Inc. has a 1 year low of $89.21 and a 1 year high of $122.91. The firm has a fifty day moving average price of $112.28 and a 200 day moving average price of $106.96.
Crown Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, August 6th. Crown’s payout ratio is 20.14%.
Analysts Set New Price Targets
Several analysts recently commented on the stock. JPMorgan Chase & Co. cut shares of Crown from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $107.00 to $121.00 in a report on Wednesday, July 22nd. Wells Fargo & Company lifted their target price on shares of Crown from $117.00 to $127.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 22nd. Weiss Ratings raised shares of Crown from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Crown in a research report on Wednesday, July 22nd. Finally, Mizuho raised their price target on Crown from $130.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 21st. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Crown currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.20.
View Our Latest Analysis on Crown
Insider Transactions at Crown
In other Crown news, CEO Timothy J. Donahue sold 15,000 shares of the company’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 transaction 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 $45,787,350. This represents a 3.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.90% of the stock is owned by insiders.
Crown Company Profile
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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