Crown Holdings, Inc. $CCK Stock: Private Management Group Inc. Trims Stake

Private Management Group Inc. trimmed its holdings in Crown Holdings, Inc. (NYSE:CCK) by 3.3% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 231,943 shares of the industrial products company’s stock after selling 7,991 shares during the quarter. Private Management Group Inc. owned about 0.21% of Crown worth $24,449,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Childress Capital Advisors LLC boosted its holdings in shares of Crown by 1.4% during the 3rd quarter. Childress Capital Advisors LLC now owns 7,901 shares of the industrial products company’s stock valued at $833,000 after acquiring an additional 108 shares during the last quarter. Anchor Investment Management LLC grew its stake in shares of Crown by 5.8% in the second quarter. Anchor Investment Management LLC now owns 1,974 shares of the industrial products company’s stock worth $221,000 after acquiring an additional 109 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Crown by 2.1% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,838 shares of the industrial products company’s stock valued at $585,000 after purchasing an additional 121 shares during the last quarter. Amova Asset Management Americas Inc. raised its holdings in shares of Crown by 2.1% during the first quarter. Amova Asset Management Americas Inc. now owns 5,838 shares of the industrial products company’s stock valued at $585,000 after purchasing an additional 121 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of Crown by 13.4% during the third quarter. Parallel Advisors LLC now owns 1,127 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Wall Street Analyst Weigh In

CCK has been the topic of several research reports. UBS Group raised their target price on shares of Crown from $116.00 to $118.00 and gave the stock a “neutral” rating in a report on Wednesday, October 21st. Jefferies Financial Group set a $121.00 target price on shares of Crown in a research note on Wednesday, July 22nd. Bank of America boosted their target price on shares of Crown from $129.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Wall Street Zen cut Crown from a “buy” rating to a “hold” rating in a report on Saturday, October 31st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Crown in a research note on Wednesday, July 22nd. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Crown has an average rating of “Moderate Buy” and an average target price of $128.47.

Crown Trading Up 1.7%

Crown stock opened at $123.32 on Tuesday. Crown Holdings, Inc. has a 52-week low of $91.31 and a 52-week high of $126.36. The company has a market cap of $13.32 billion, a P/E ratio of 17.18, a P/E/G ratio of 1.56 and a beta of 0.54. The company has a quick ratio of 0.71, a current ratio of 1.14 and a debt-to-equity ratio of 1.65. The business has a 50-day simple moving average of $113.21 and a two-hundred day simple moving average of $109.02.

Crown (NYSE:CCK) last issued its quarterly earnings data on Monday, October 19th. The industrial products company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.13. The firm had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.45 billion. Crown had a net margin of 5.78% and a return on equity of 27.41%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.24 EPS. Analysts predict that Crown Holdings, Inc. will post 8.41 EPS for the current year.

Crown Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Thursday, November 5th will be given a $0.35 dividend. The ex-dividend date is Thursday, November 5th. This represents a $1.40 annualized dividend and a yield of 1.1%. Crown’s dividend payout ratio (DPR) is presently 19.50%.

Crown Company Profile

Crown Holdings, Inc is a global packaging company that designs and manufactures metal packaging for consumer goods and industrial products. Its products include beverage cans, food cans, aerosol containers, metal closures and other packaging components.

The company serves customers across a range of industries, including beverage, food, household and personal care, and industrial markets. Its operations span North America, Europe, Asia-Pacific and other international markets.

Crown traces its roots to 1892, when William Painter founded the Crown Cork and Seal Company in Baltimore.