Jensen Investment Management Inc. Increases Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

Jensen Investment Management Inc. grew its position in Crown Holdings, Inc. (NYSE:CCK) by 2.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,638 shares of the industrial products company’s stock after buying an additional 2,410 shares during the quarter. Jensen Investment Management Inc. owned 0.08% of Crown worth $6,966,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Rise Advisors LLC purchased a new stake in Crown during the 1st quarter worth about $27,000. Mather Group LLC. acquired a new stake in Crown in the 1st quarter worth about $32,000. Quest Partners LLC acquired a new stake in Crown in the 4th quarter worth about $34,000. Quarry LP boosted its stake in Crown by 190.3% in the 4th quarter. Quarry LP now owns 421 shares of the industrial products company’s stock worth $39,000 after buying an additional 276 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in Crown in the 1st quarter worth about $41,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Crown Trading Up 1.2 %

Shares of Crown stock traded up $1.07 on Friday, reaching $91.45. 140,878 shares of the company were exchanged, compared to its average volume of 1,145,427. The stock has a fifty day moving average price of $83.35 and a 200-day moving average price of $80.84. The firm has a market capitalization of $11.04 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 2.14 and a beta of 0.85. The company has a current ratio of 1.05, a quick ratio of 0.73 and a debt-to-equity ratio of 2.00. Crown Holdings, Inc. has a fifty-two week low of $69.61 and a fifty-two week high of $93.79.

Crown (NYSE:CCK) last announced its earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.22. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.06 billion. Crown had a return on equity of 23.96% and a net margin of 3.68%. Crown’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.68 earnings per share. On average, analysts expect that Crown Holdings, Inc. will post 6.16 EPS for the current year.

Crown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Thursday, August 15th. Crown’s payout ratio is 28.82%.

Insider Activity at Crown

In related news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total transaction of $643,875.00. Following the transaction, the chief executive officer now directly owns 586,178 shares of the company’s stock, valued at $50,323,381.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Crown news, CEO Timothy J. Donahue sold 15,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total value of $1,275,450.00. Following the transaction, the chief executive officer now directly owns 593,678 shares of the company’s stock, valued at approximately $50,480,440.34. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total value of $643,875.00. Following the completion of the transaction, the chief executive officer now directly owns 586,178 shares in the company, valued at $50,323,381.30. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wells Fargo & Company raised their price target on Crown from $85.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Loop Capital raised their price target on Crown from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Citigroup raised their price target on Crown from $94.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Morgan Stanley lifted their price objective on Crown from $92.00 to $105.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, UBS Group reduced their price objective on Crown from $112.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Crown has a consensus rating of “Moderate Buy” and a consensus price target of $101.14.

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.