Los Angeles Capital Management LLC Boosts Stake in Crown Holdings, Inc. (NYSE:CCK)

Los Angeles Capital Management LLC grew its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 18.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,051 shares of the industrial products company’s stock after buying an additional 3,494 shares during the period. Los Angeles Capital Management LLC’s holdings in Crown were worth $2,031,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CCK. Natixis Advisors L.P. raised its position in shares of Crown by 62.4% in the fourth quarter. Natixis Advisors L.P. now owns 349,266 shares of the industrial products company’s stock valued at $32,163,000 after purchasing an additional 134,250 shares during the period. New York Life Investment Management LLC raised its holdings in Crown by 2.9% during the 4th quarter. New York Life Investment Management LLC now owns 13,593 shares of the industrial products company’s stock valued at $1,252,000 after acquiring an additional 380 shares during the period. Howe & Rusling Inc. lifted its position in shares of Crown by 202.5% during the fourth quarter. Howe & Rusling Inc. now owns 96,859 shares of the industrial products company’s stock worth $8,920,000 after acquiring an additional 64,844 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Crown by 7.3% in the fourth quarter. Victory Capital Management Inc. now owns 5,136,706 shares of the industrial products company’s stock worth $473,039,000 after acquiring an additional 350,265 shares during the period. Finally, Cannell & Co. raised its stake in shares of Crown by 44.9% during the 4th quarter. Cannell & Co. now owns 195,127 shares of the industrial products company’s stock valued at $17,969,000 after purchasing an additional 60,510 shares during the period. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Insider Transactions at Crown

In related news, CEO Timothy J. Donahue sold 22,500 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $85.18, for a total transaction of $1,916,550.00. Following the transaction, the chief executive officer now owns 616,178 shares in the company, valued at $52,486,042.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CCK shares. JPMorgan Chase & Co. boosted their price target on shares of Crown from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Loop Capital upped their target price on Crown from $101.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Wolfe Research started coverage on Crown in a research report on Friday, March 1st. They set an “outperform” rating and a $102.00 price target for the company. Wells Fargo & Company upped their price objective on shares of Crown from $76.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. Finally, Truist Financial reaffirmed a “hold” rating and issued a $88.00 target price (down from $100.00) on shares of Crown in a research note on Wednesday, March 27th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Crown presently has an average rating of “Moderate Buy” and a consensus target price of $99.29.

Crown Stock Performance

Shares of NYSE:CCK opened at $83.28 on Tuesday. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 2.26. The company has a 50-day moving average price of $78.31 and a 200-day moving average price of $82.66. The company has a market cap of $10.06 billion, a price-to-earnings ratio of 24.00, a price-to-earnings-growth ratio of 2.77 and a beta of 0.88. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $96.35.

Crown (NYSE:CCK) last released its quarterly earnings results on Monday, April 29th. The industrial products company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.06. The business had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.93 billion. Crown had a return on equity of 23.95% and a net margin of 3.51%. Crown’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.20 EPS. As a group, equities analysts anticipate that Crown Holdings, Inc. will post 5.94 EPS for the current year.

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Thursday, June 13th. Crown’s payout ratio is currently 28.82%.

Crown Company 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.