Charles Schwab Investment Management Inc. Buys 19,242 Shares of Crown Holdings, Inc. (NYSE:CCK)

Charles Schwab Investment Management Inc. raised its stake in Crown Holdings, Inc. (NYSE:CCK) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 768,624 shares of the industrial products company’s stock after buying an additional 19,242 shares during the period. Charles Schwab Investment Management Inc. owned about 0.64% of Crown worth $70,783,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Commonwealth Equity Services LLC increased its stake in 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 acquiring an additional 183 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position 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 worth $616,000 after buying an additional 2,638 shares during the last quarter. Fifth Third Bancorp boosted its stake in Crown by 46.0% in the third quarter. Fifth Third Bancorp now owns 1,009 shares of the industrial products company’s stock worth $89,000 after buying an additional 318 shares in the last quarter. Teacher Retirement System of Texas grew its position in Crown by 2.5% during the third quarter. Teacher Retirement System of Texas now owns 9,305 shares of the industrial products company’s stock valued at $823,000 after acquiring an additional 223 shares during the last quarter. Finally, SeaTown Holdings Pte. Ltd. raised its stake in shares of Crown by 19.6% during the third quarter. SeaTown Holdings Pte. Ltd. now owns 86,100 shares of the industrial products company’s stock worth $7,618,000 after acquiring an additional 14,100 shares in the last quarter. Hedge funds and other 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 Crown stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $85.18, for a total value of $1,916,550.00. Following the completion of the sale, the chief executive officer now owns 616,178 shares of the company’s stock, valued at approximately $52,486,042.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CCK shares. JPMorgan Chase & Co. upped their price objective on shares of Crown from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Mizuho decreased their price objective on Crown from $105.00 to $96.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. Wells Fargo & Company boosted their target price on Crown from $76.00 to $84.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. UBS Group started coverage on Crown in a research report on Tuesday, January 16th. They set a “buy” rating and a $112.00 price target on the stock. Finally, Loop Capital boosted their price objective on Crown from $101.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $99.29.

Crown Trading Up 0.7 %

NYSE:CCK opened at $84.69 on Wednesday. The stock has a market cap of $10.23 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 2.82 and a beta of 0.88. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 2.26. The company’s 50 day moving average price is $79.28 and its 200-day moving average price is $82.85. Crown Holdings, Inc. has a 52 week low of $69.61 and a 52 week high of $96.35.

Crown (NYSE:CCK) last posted its earnings results on Monday, April 29th. The industrial products company reported $1.02 EPS for the quarter, topping 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%. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 EPS. On average, equities research analysts forecast that Crown Holdings, Inc. will post 5.95 earnings per share for the current fiscal year.

Crown Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.18%. Crown’s dividend payout ratio is presently 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.