Citigroup Inc. Buys 4,839 Shares of Crown Holdings, Inc. (NYSE:CCK)

Citigroup Inc. boosted its stake in Crown Holdings, Inc. (NYSE:CCK – Get Rating) by 11.8% in the 4th quarter, Holdings Channel reports. The firm owned 45,757 shares of the industrial products company’s stock after acquiring an additional 4,839 shares during the quarter. Citigroup Inc.’s holdings in Crown were worth $3,762,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Fairfield Bush & CO. bought a new position in shares of Crown in the first quarter valued at approximately $143,000. US Bancorp DE boosted its holdings in Crown by 9.6% in the 1st quarter. US Bancorp DE now owns 3,506 shares of the industrial products company’s stock valued at $439,000 after purchasing an additional 308 shares during the period. Cetera Advisor Networks LLC grew its position in shares of Crown by 30.3% during the 1st quarter. Cetera Advisor Networks LLC now owns 2,866 shares of the industrial products company’s stock valued at $359,000 after purchasing an additional 666 shares in the last quarter. MetLife Investment Management LLC bought a new position in shares of Crown in the first quarter worth $392,000. Finally, Great West Life Assurance Co. Can raised its position in shares of Crown by 43.6% in the first quarter. Great West Life Assurance Co. Can now owns 62,763 shares of the industrial products company’s stock worth $8,318,000 after buying an additional 19,046 shares in the last quarter.

Crown Price Performance

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

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

Crown Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 25th. Shareholders of record on Thursday, May 11th will be given a dividend of $0.24 per share. 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 payout ratio is currently 18.90%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Citigroup upped their target price on Crown from $103.00 to $104.00 in a research note on Thursday, April 27th. Royal Bank of Canada upped their price objective on shares of Crown from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Friday, February 10th. Barclays lifted their target price on shares of Crown from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, February 13th. Mizuho increased their price target on shares of Crown from $103.00 to $108.00 in a report on Wednesday, April 26th. Finally, Wells Fargo & Company dropped their price objective on shares of Crown from $86.00 to $79.00 in a report on Monday, March 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $97.60.

Insiders Place Their Bets

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

About Crown

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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.