Sone Capital Management LLC Acquires Shares of 65,839 Crown Holdings, Inc. (NYSE:CCK)

Sone Capital Management LLC acquired a new position in Crown Holdings, Inc. (NYSE:CCK) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 65,839 shares of the industrial products company’s stock, valued at approximately $5,444,000.

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

Insider Buying and Selling at Crown

In related news, COO Gerard H. Gifford sold 7,000 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $97.00, for a total transaction of $679,000.00. Following the completion of the sale, the chief operating officer now owns 135,014 shares of the company’s stock, valued at $13,096,358. This represents a 4.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

Crown Trading Down 0.2%

NYSE CCK opened at $99.42 on Monday. The stock has a market capitalization of $11.57 billion, a P/E ratio of 27.93, a P/E/G ratio of 1.56 and a beta of 0.76. Crown Holdings, Inc. has a 52-week low of $70.84 and a 52-week high of $101.50. The firm has a 50-day moving average price of $89.75 and a 200 day moving average price of $88.43. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88.

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

Crown Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.04 annualized dividend and a dividend yield of 1.05%. Crown’s payout ratio is currently 22.37%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Barclays lifted their price target on shares of Crown from $109.00 to $117.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. Mizuho boosted their price target on Crown from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. UBS Group raised their price target on shares of Crown from $109.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Wells Fargo & Company increased their price target on Crown from $89.00 to $101.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 30th. Finally, Royal Bank of Canada raised their target price on Crown from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Crown presently has an average rating of “Moderate Buy” and an average price target of $110.45.

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.