Crown Holdings, Inc. (NYSE:CCK) Position Trimmed by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in Crown Holdings, Inc. (NYSE:CCK) by 0.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 82,360 shares of the industrial products company’s stock after selling 258 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Crown were worth $7,897,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of CCK. Nisa Investment Advisors LLC lifted its holdings in Crown by 6.1% in the second quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the industrial products company’s stock worth $205,000 after acquiring an additional 158 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Crown by 110.9% in the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 163 shares during the last quarter. Fifth Third Bancorp boosted its position in Crown by 36.1% during the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 176 shares during the period. DekaBank Deutsche Girozentrale grew its stake in Crown by 2.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 9,477 shares of the industrial products company’s stock worth $894,000 after buying an additional 183 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in Crown by 5.4% in the second quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock valued at $303,000 after buying an additional 209 shares during the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on CCK shares. Loop Capital increased their price objective on shares of Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Barclays lifted their price target on Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Royal Bank of Canada increased their price objective on Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Morgan Stanley lifted their target price on Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Finally, Truist Financial increased their price target on Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $106.62.

Crown Price Performance

Shares of Crown stock opened at $92.09 on Monday. Crown Holdings, Inc. has a 52 week low of $69.61 and a 52 week high of $98.46. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19. The company’s 50-day moving average price is $93.53 and its two-hundred day moving average price is $87.13. The stock has a market cap of $11.02 billion, a PE ratio of 113.69, a price-to-earnings-growth ratio of 2.04 and a beta of 0.85.

Crown (NYSE:CCK) last issued its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.18. The firm had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. As a group, sell-side analysts anticipate that Crown Holdings, Inc. will post 6.34 EPS for the current fiscal year.

Crown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Thursday, November 14th. Crown’s dividend payout ratio (DPR) is presently 123.46%.

Insider Activity at Crown

In related news, COO Gerard H. Gifford sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total value of $958,900.00. Following the completion of the sale, the chief operating officer now owns 114,402 shares in the company, valued at approximately $10,970,007.78. This represents a 8.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total transaction of $725,475.00. Following the transaction, the chief executive officer now owns 563,678 shares in the company, valued at approximately $54,524,572.94. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,506 shares of company stock worth $3,157,399 in the last quarter. 0.90% of the stock is owned by company insiders.

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.