Crown Holdings, Inc. (NYSE:CCK) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 151,103 shares of the industrial products company’s stock after buying an additional 460 shares during the quarter. Retirement Systems of Alabama owned approximately 0.13% of Crown worth $13,915,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CCK. Toronto Dominion Bank grew its position in shares of Crown by 41.9% during the third quarter. Toronto Dominion Bank now owns 2,213,904 shares of the industrial products company’s stock worth $195,886,000 after buying an additional 654,082 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Crown by 46.7% during the third quarter. Hsbc Holdings PLC now owns 1,414,343 shares of the industrial products company’s stock worth $125,449,000 after buying an additional 450,087 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Crown by 9.6% during the third quarter. Victory Capital Management Inc. now owns 4,786,441 shares of the industrial products company’s stock worth $423,504,000 after buying an additional 418,220 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in shares of Crown during the third quarter worth about $32,989,000. Finally, Jennison Associates LLC acquired a new position in shares of Crown during the fourth quarter worth about $29,748,000. 90.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Timothy J. Donahue sold 22,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $85.18, for a total value of $1,916,550.00. Following the transaction, the chief executive officer now owns 616,178 shares of the company’s stock, valued at $52,486,042.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

CCK has been the subject of several recent analyst reports. Wells Fargo & Company boosted their target price on Crown from $76.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Truist Financial restated a “hold” rating and set a $88.00 target price (down previously from $100.00) on shares of Crown in a research note on Wednesday, March 27th. Robert W. Baird boosted their target price on Crown from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday. Royal Bank of Canada decreased their target price on Crown from $110.00 to $97.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. Finally, Mizuho decreased their target price on Crown from $105.00 to $96.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $99.29.

Crown Price Performance

Shares of NYSE CCK opened at $83.00 on Thursday. The company has a current ratio of 1.15, a quick ratio of 0.77 and a debt-to-equity ratio of 2.34. Crown Holdings, Inc. has a twelve month low of $69.61 and a twelve month high of $96.35. The stock has a 50 day moving average of $77.94 and a two-hundred day moving average of $82.62. The stock has a market cap of $10.03 billion, a P/E ratio of 23.92, a P/E/G ratio of 2.75 and a beta of 0.91.

Crown (NYSE:CCK) last released its earnings results on Monday, April 29th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.06. The business had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.93 billion. Crown had a return on equity of 24.23% and a net margin of 3.51%. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 earnings per share. On average, research analysts forecast that Crown Holdings, Inc. will post 5.9 earnings per share for the current year.

Crown Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.25 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.20%. This is a positive change from Crown’s previous quarterly dividend of $0.24. Crown’s payout ratio is presently 28.82%.

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.