SG Americas Securities LLC Acquires New Shares in Crown Holdings, Inc. (NYSE:CCK)

SG Americas Securities LLC bought a new position in shares of Crown Holdings, Inc. (NYSE:CCK) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 19,316 shares of the industrial products company’s stock, valued at approximately $1,724,000.

Other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC grew its holdings in Crown by 160.0% during the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 256 shares during the period. Colonial Trust Co SC boosted its position in shares of Crown by 88.0% during the fourth quarter. Colonial Trust Co SC now owns 752 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 352 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Crown by 33.8% in the 1st quarter. Parallel Advisors LLC now owns 811 shares of the industrial products company’s stock valued at $72,000 after buying an additional 205 shares during the period. Venturi Wealth Management LLC increased its position in shares of Crown by 48.6% in the 4th quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company’s stock valued at $68,000 after buying an additional 269 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in Crown by 325.1% during the 4th quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company’s stock worth $70,000 after buying an additional 647 shares during the period. 90.93% of the stock is currently owned by institutional investors and hedge funds.

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 that occurred on Friday, May 2nd. The stock was sold at an average price of $97.00, for a total transaction of $679,000.00. Following the transaction, the chief operating officer now directly owns 135,014 shares of the company’s stock, valued at approximately $13,096,358. The trade was a 4.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christy L. Kalaus sold 2,130 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $99.41, for a total value of $211,743.30. Following the completion of the sale, the vice president now owns 4,500 shares in the company, valued at approximately $447,345. This trade represents a 32.13% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Mizuho boosted their price objective on Crown from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, April 29th. Barclays lifted their price target on shares of Crown from $109.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Royal Bank of Canada increased their price objective on shares of Crown from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Truist Financial cut their price objective on shares of Crown from $107.00 to $97.00 and set a “hold” rating on the stock in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company increased their target price on Crown from $89.00 to $101.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Crown has an average rating of “Moderate Buy” and an average target price of $110.45.

Crown Stock Performance

CCK opened at $99.78 on Monday. The business’s 50-day simple moving average is $94.11 and its 200 day simple moving average is $89.34. Crown Holdings, Inc. has a 52-week low of $70.84 and a 52-week high of $102.00. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22. The firm has a market capitalization of $11.61 billion, a PE ratio of 28.03, a PEG ratio of 1.56 and a beta of 0.76.

Crown (NYSE:CCK) last posted its quarterly earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.45. The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.82 billion. Crown had a return on equity of 25.12% and a net margin of 3.59%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.02 EPS. As a group, sell-side analysts expect that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Thursday, May 15th. Crown’s dividend payout ratio (DPR) is currently 22.37%.

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.