Swiss National Bank Sells 9,100 Shares of Crown Holdings, Inc. (NYSE:CCK)

Swiss National Bank cut its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 2.4% during the fourth quarter, Holdings Channel reports. The fund owned 377,200 shares of the industrial products company’s stock after selling 9,100 shares during the quarter. Swiss National Bank’s holdings in Crown were worth $34,736,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its position in shares of Crown by 2.7% in the third quarter. Commonwealth Equity Services LLC now owns 6,903 shares of the industrial products company’s stock valued at $611,000 after purchasing an additional 183 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in Crown by 61.0% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 6,966 shares of the industrial products company’s stock valued at $616,000 after acquiring an additional 2,638 shares during the period. Bank of New York Mellon Corp lifted its position in Crown by 1.0% during the third quarter. Bank of New York Mellon Corp now owns 1,222,802 shares of the industrial products company’s stock worth $108,194,000 after acquiring an additional 12,577 shares during the last quarter. Verdence Capital Advisors LLC boosted its holdings in shares of Crown by 4.7% during the third quarter. Verdence Capital Advisors LLC now owns 7,100 shares of the industrial products company’s stock worth $628,000 after acquiring an additional 320 shares during the period. Finally, BluePath Capital Management LLC acquired a new position in shares of Crown in the third quarter valued at approximately $25,000. Institutional investors own 90.93% of the company’s stock.

Insider Activity at Crown

In other Crown news, CEO Timothy J. Donahue sold 22,500 shares of the business’s stock in a transaction on 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 sale, 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 legal filing with the SEC, which is accessible through this link. 0.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CCK has been the subject of several research reports. Loop Capital lifted their price target on Crown from $101.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Wells Fargo & Company boosted their target price on shares of Crown from $76.00 to $84.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. Morgan Stanley started coverage on shares of Crown in a research report on Monday, March 18th. They set an “equal weight” rating and a $87.00 price target on the stock. Royal Bank of Canada cut their price objective on shares of Crown from $110.00 to $97.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Crown from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $99.29.

Crown Trading Up 0.7 %

Shares of CCK stock opened at $83.84 on Wednesday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.77 and a current ratio of 1.19. Crown Holdings, Inc. has a fifty-two week low of $69.61 and a fifty-two week high of $96.35. The company has a market cap of $10.13 billion, a PE ratio of 24.16, a P/E/G ratio of 2.77 and a beta of 0.88. The stock’s fifty day moving average price is $78.43 and its two-hundred day moving average price is $82.70.

Crown (NYSE:CCK) last released its quarterly earnings data on Monday, April 29th. The industrial products company reported $1.02 earnings per share for the quarter, beating the consensus estimate 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 23.95% and a net margin of 3.51%. Crown’s revenue was down 6.4% compared to the same quarter last year. During the same period last year, the firm posted $1.20 earnings per share. Equities analysts predict that Crown Holdings, Inc. will post 5.94 EPS for the current fiscal year.

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors 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 1.19%. The ex-dividend date of this dividend is Thursday, June 13th. Crown’s dividend payout ratio is 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.