Avanza Fonder AB Has $996,000 Holdings in Crown Holdings, Inc. (NYSE:CCK)

Avanza Fonder AB decreased its position in Crown Holdings, Inc. (NYSE:CCK) by 5.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,043 shares of the industrial products company’s stock after selling 689 shares during the quarter. Avanza Fonder AB’s holdings in Crown were worth $996,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CCK. GAMMA Investing LLC grew its stake in shares of Crown by 110.3% during the 1st quarter. GAMMA Investing LLC now owns 1,201 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 630 shares in the last quarter. Pallas Capital Advisors LLC grew its position in Crown by 64.3% in the first quarter. Pallas Capital Advisors LLC now owns 7,387 shares of the industrial products company’s stock valued at $659,000 after purchasing an additional 2,890 shares in the last quarter. Park Avenue Securities LLC acquired a new stake in Crown in the 1st quarter valued at $464,000. UMB Bank n.a. increased its stake in Crown by 43.6% in the 1st quarter. UMB Bank n.a. now owns 2,748 shares of the industrial products company’s stock valued at $245,000 after buying an additional 835 shares during the last quarter. Finally, Gateway Investment Advisers LLC lifted its position in Crown by 52.3% during the 1st quarter. Gateway Investment Advisers LLC now owns 52,563 shares of the industrial products company’s stock worth $4,692,000 after buying an additional 18,042 shares in the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CCK. Barclays raised their price objective on Crown from $109.00 to $117.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Royal Bank of Canada raised their price target on Crown from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Mizuho upped their price objective on Crown from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. Truist Financial cut their price objective on Crown from $107.00 to $97.00 and set a “hold” rating for the company in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company boosted their target price on shares of Crown from $89.00 to $101.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.45.

Crown Stock Performance

CCK opened at $101.35 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. The stock has a market cap of $11.80 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 1.56 and a beta of 0.76. Crown Holdings, Inc. has a 12-month low of $70.84 and a 12-month high of $102.00. The business has a 50 day moving average of $93.68 and a 200-day moving average of $89.34.

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

Crown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a $0.26 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.04 annualized dividend and a yield of 1.03%. Crown’s dividend payout ratio is currently 22.37%.

Insider Buying and Selling at Crown

In related news, COO Gerard H. Gifford sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $97.00, for a total value 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. The trade was a 4.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Christy L. Kalaus sold 2,130 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $99.41, for a total transaction of $211,743.30. Following the sale, the vice president now owns 4,500 shares in the company, valued at $447,345. The trade was a 32.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.