Gotham Asset Management LLC Grows Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

Gotham Asset Management LLC grew its holdings in Crown Holdings, Inc. (NYSE:CCK) by 22.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,423 shares of the industrial products company’s stock after acquiring an additional 14,872 shares during the period. Gotham Asset Management LLC’s holdings in Crown were worth $6,816,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CCK. Victory Capital Management Inc. boosted its holdings in Crown by 1.8% during the fourth quarter. Victory Capital Management Inc. now owns 5,779,691 shares of the industrial products company’s stock worth $477,923,000 after buying an additional 102,789 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Crown by 10,138.8% during the fourth quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company’s stock worth $256,762,000 after buying an additional 3,074,791 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Crown by 10.5% during the fourth quarter. Bank of New York Mellon Corp now owns 2,967,810 shares of the industrial products company’s stock worth $245,408,000 after buying an additional 283,014 shares in the last quarter. Metropolis Capital Ltd boosted its holdings in Crown by 68.7% during the fourth quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company’s stock worth $203,116,000 after buying an additional 1,000,605 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Crown by 30.6% during the fourth quarter. AQR Capital Management LLC now owns 1,705,081 shares of the industrial products company’s stock worth $140,720,000 after buying an additional 399,842 shares in the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Gerard H. Gifford sold 7,000 shares of the firm’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $97.00, for a total transaction of $679,000.00. Following the completion of the sale, the chief operating officer now directly owns 135,014 shares in the company, valued at approximately $13,096,358. This trade represents a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CCK shares. Royal Bank of Canada increased their price target on shares of Crown from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Mizuho increased their price objective on shares of Crown from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, April 29th. Wells Fargo & Company increased their price objective on shares of Crown from $89.00 to $101.00 and gave the company an “equal weight” rating in a report on Wednesday, April 30th. UBS Group increased their price objective on shares of Crown from $109.00 to $114.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Finally, Barclays increased their price objective on shares of Crown from $109.00 to $117.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $110.45.

Crown Price Performance

Shares of NYSE CCK opened at $97.42 on Wednesday. The firm has a 50-day simple moving average of $89.22 and a 200-day simple moving average of $88.38. The stock has a market capitalization of $11.34 billion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 1.56 and a beta of 0.76. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. Crown Holdings, Inc. has a 52 week low of $70.84 and a 52 week high of $99.23.

Crown (NYSE:CCK) last issued its earnings results on Monday, April 28th. The industrial products company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.45. The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Crown had a net margin of 3.59% and a return on equity of 25.12%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.02 earnings per share. On average, equities analysts predict that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, May 15th. Crown’s dividend payout ratio (DPR) is 22.37%.

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.