Crown Holdings, Inc. (NYSE:CCK) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. lessened its position in Crown Holdings, Inc. (NYSE:CCK) by 63.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,275 shares of the industrial products company’s stock after selling 14,558 shares during the quarter. Vontobel Holding Ltd.’s holdings in Crown were worth $739,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. TD Private Client Wealth LLC lifted its position in shares of Crown by 4.6% in the 4th quarter. TD Private Client Wealth LLC now owns 2,864 shares of the industrial products company’s stock valued at $237,000 after acquiring an additional 125 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Crown by 0.4% in the 4th quarter. Bessemer Group Inc. now owns 34,061 shares of the industrial products company’s stock valued at $2,816,000 after acquiring an additional 138 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Crown by 2.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 9,372 shares of the industrial products company’s stock valued at $775,000 after acquiring an additional 200 shares in the last quarter. iA Global Asset Management Inc. lifted its position in Crown by 3.8% in the 4th quarter. iA Global Asset Management Inc. now owns 5,530 shares of the industrial products company’s stock worth $457,000 after buying an additional 204 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in Crown by 33.8% in the 1st quarter. Parallel Advisors LLC now owns 811 shares of the industrial products company’s stock worth $72,000 after buying an additional 205 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CCK shares. Truist Financial cut their target price on shares of Crown from $107.00 to $97.00 and set a “hold” rating for the company in a research report on Tuesday, April 22nd. Mizuho increased their target price on shares of Crown from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 29th. Wall Street Zen upgraded shares of Crown from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 28th. Morgan Stanley increased their target price on shares of Crown from $114.00 to $118.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 25th. Finally, Barclays raised their price target on shares of Crown from $109.00 to $117.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $113.27.

Insider Activity

In other news, COO Gerard H. Gifford sold 7,000 shares of Crown 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 sale, the chief operating officer directly owned 135,014 shares in the company, valued at approximately $13,096,358. The trade was a 4.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christy L. Kalaus sold 2,130 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $99.41, for a total transaction of $211,743.30. Following the completion of the transaction, the vice president owned 4,500 shares in the company, valued at approximately $447,345. This trade represents a 32.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

Crown Stock Performance

NYSE CCK opened at $107.90 on Monday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.87 and a quick ratio of 0.56. The firm has a market capitalization of $12.56 billion, a price-to-earnings ratio of 23.20, a P/E/G ratio of 1.86 and a beta of 0.76. The company’s fifty day moving average is $99.90 and its two-hundred day moving average is $91.02. Crown Holdings, Inc. has a 52-week low of $71.62 and a 52-week high of $108.05.

Crown (NYSE:CCK) last posted its quarterly earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.45. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.82 billion. Crown had a net margin of 4.62% and a return on equity of 26.98%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the business posted $1.02 EPS. Equities research analysts forecast that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.04 annualized dividend and a dividend yield of 0.96%. Crown’s dividend payout ratio (DPR) is currently 22.37%.

About Crown

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.