Crown Holdings, Inc. (NYSE:CCK) Position Boosted by Citigroup Inc.

Citigroup Inc. increased its position in Crown Holdings, Inc. (NYSE:CCK – Get Rating) by 11.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,757 shares of the industrial products company’s stock after purchasing an additional 4,839 shares during the period. Citigroup Inc.’s holdings in Crown were worth $3,762,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CCK. Fairfield Bush & CO. bought a new position in Crown during the 1st quarter valued at $143,000. US Bancorp DE grew its holdings in shares of Crown by 9.6% during the first quarter. US Bancorp DE now owns 3,506 shares of the industrial products company’s stock valued at $439,000 after buying an additional 308 shares in the last quarter. Cetera Advisor Networks LLC raised its position in Crown by 30.3% during the first quarter. Cetera Advisor Networks LLC now owns 2,866 shares of the industrial products company’s stock valued at $359,000 after buying an additional 666 shares during the period. MetLife Investment Management LLC purchased a new stake in Crown in the 1st quarter worth about $392,000. Finally, Great West Life Assurance Co. Can increased its stake in Crown by 43.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 62,763 shares of the industrial products company’s stock valued at $8,318,000 after buying an additional 19,046 shares during the period.

Insider Activity

In related news, Director James H. Miller sold 9,300 shares of Crown stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $84.86, for a total transaction of $789,198.00. Following the completion of the transaction, the director now owns 19,801 shares in the company, valued at $1,680,312.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.90% of the company’s stock.

Crown Trading Down 0.7 %

Shares of NYSE:CCK opened at $81.55 on Monday. The stock has a market capitalization of $9.79 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. The company’s 50-day moving average price is $80.61 and its two-hundred day moving average price is $82.55. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.30 and a quick ratio of 0.73. Crown Holdings, Inc. has a one year low of $66.00 and a one year high of $110.80.

Crown (NYSE:CCK – Get Rating) last issued its quarterly earnings results on Monday, April 24th. The industrial products company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.05 by $0.15. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.10 billion. Crown had a return on equity of 31.41% and a net margin of 4.81%. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.01 earnings per share. On average, equities analysts forecast that Crown Holdings, Inc. will post 6.3 EPS for the current fiscal year.

Crown Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 25th. Shareholders of record on Thursday, May 11th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Wednesday, May 10th. Crown’s dividend payout ratio is currently 18.90%.

Analysts Set New Price Targets

Several analysts have commented on the stock. TheStreet raised shares of Crown from a “c” rating to a “b-” rating in a research report on Wednesday, February 8th. StockNews.com cut Crown from a “hold” rating to a “sell” rating in a report on Saturday. Citigroup increased their price objective on Crown from $103.00 to $104.00 in a research report on Thursday, April 27th. Royal Bank of Canada upped their price target on Crown from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Friday, February 10th. Finally, Mizuho raised their price target on Crown from $103.00 to $108.00 in a research report on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.60.

Crown Profile

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Crown Holdings, Inc engages in the design, manufacture, and sale of packaging products and equipment for consumer goods. The firm offers aerosol cans, beverage, promotional, and transit packaging, closures and capping, and food cans. It operates through the following segments: Americas, Europe, Asia Pacific, and Transit Packaging.