Claro Advisors LLC Purchases New Shares in Crown Holdings, Inc. (NYSE:CCK)

Claro Advisors LLC acquired a new position in Crown Holdings, Inc. (NYSE:CCK) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,773 shares of the industrial products company’s stock, valued at approximately $266,000.

Other large investors also recently made changes to their positions in the company. Sessa Capital IM L.P. lifted its position in Crown by 153.0% during the 2nd quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock worth $244,697,000 after buying an additional 1,989,374 shares in the last quarter. 1832 Asset Management L.P. bought a new position in shares of Crown in the first quarter worth about $119,167,000. Metropolis Capital Ltd lifted its position in shares of Crown by 269.7% during the third quarter. Metropolis Capital Ltd now owns 1,455,752 shares of the industrial products company’s stock worth $139,578,000 after purchasing an additional 1,062,001 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Crown by 7.8% during the third quarter. Victory Capital Management Inc. now owns 5,676,902 shares of the industrial products company’s stock valued at $544,301,000 after purchasing an additional 412,973 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Crown by 121.7% in the second quarter. AQR Capital Management LLC now owns 736,478 shares of the industrial products company’s stock valued at $54,787,000 after purchasing an additional 404,250 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.

Wall Street Analysts Forecast Growth

CCK has been the topic of a number of recent research reports. Royal Bank of Canada increased their price objective on Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Loop Capital lifted their price objective on Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Citigroup upped their target price on shares of Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Truist Financial raised their target price on shares of Crown from $95.00 to $103.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Finally, Mizuho set a $110.00 price target on shares of Crown in a research note on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.62.

Crown Trading Up 0.2 %

Shares of NYSE CCK opened at $89.53 on Wednesday. Crown Holdings, Inc. has a twelve month low of $69.61 and a twelve month high of $98.46. The stock has a market cap of $10.71 billion, a price-to-earnings ratio of 110.53, a P/E/G ratio of 1.99 and a beta of 0.85. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. The company’s fifty day moving average is $93.54 and its 200-day moving average is $86.68.

Crown (NYSE:CCK) last posted its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.18. Crown had a return on equity of 24.57% and a net margin of 0.83%. The firm had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.07 billion. Equities research analysts predict that Crown Holdings, Inc. will post 6.34 EPS for the current year.

Crown Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.12%. Crown’s dividend payout ratio (DPR) is currently 123.46%.

Insiders Place Their Bets

In related news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $90.58, for a total transaction of $679,350.00. Following the sale, the chief executive officer now directly owns 578,678 shares in the company, valued at $52,416,653.24. This trade represents a 1.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James H. Miller sold 1,006 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $95.60, for a total value of $96,173.60. Following the transaction, the director now owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. This trade represents a 7.49 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,506 shares of company stock worth $3,157,399. Company insiders own 0.90% of the company’s stock.

Crown 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.