Crescent Park Management L.P. Raises Holdings in Crown Holdings, Inc. (NYSE:CCK)

Crescent Park Management L.P. raised its position in shares of Crown Holdings, Inc. (NYSE:CCKGet Rating) by 13.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 316,230 shares of the industrial products company’s stock after acquiring an additional 38,335 shares during the quarter. Crown comprises 6.4% of Crescent Park Management L.P.’s investment portfolio, making the stock its 3rd biggest holding. Crescent Park Management L.P. owned about 0.26% of Crown worth $39,557,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Riverview Trust Co bought a new position in Crown in the 1st quarter valued at about $27,000. Quent Capital LLC increased its stake in Crown by 92.7% in the 1st quarter. Quent Capital LLC now owns 237 shares of the industrial products company’s stock valued at $30,000 after buying an additional 114 shares during the last quarter. Covestor Ltd purchased a new stake in Crown in the 4th quarter valued at about $33,000. Meeder Asset Management Inc. increased its stake in Crown by 187.6% in the 1st quarter. Meeder Asset Management Inc. now owns 302 shares of the industrial products company’s stock valued at $38,000 after buying an additional 197 shares during the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of Crown during the 1st quarter worth approximately $63,000. Institutional investors own 91.84% of the company’s stock.

Crown Price Performance

Crown stock opened at $97.90 on Friday. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.95 and a quick ratio of 0.54. The firm has a fifty day simple moving average of $94.42 and a two-hundred day simple moving average of $106.04. Crown Holdings, Inc. has a twelve month low of $85.85 and a twelve month high of $130.42.

Crown (NYSE:CCKGet Rating) last released its quarterly earnings data on Wednesday, July 20th. The industrial products company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.07. Crown had a negative net margin of 3.07% and a positive return on equity of 40.47%. The firm had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter in the previous year, the company earned $2.14 earnings per share. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. On average, research analysts predict that Crown Holdings, Inc. will post 7.76 earnings per share for the current fiscal year.

Crown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend was Wednesday, August 10th. Crown’s payout ratio is -29.43%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Citigroup reduced their price objective on shares of Crown from $130.00 to $126.00 in a research note on Friday, July 22nd. Truist Financial cut their price target on shares of Crown from $147.00 to $130.00 and set a “buy” rating for the company in a report on Friday, July 22nd. Morgan Stanley cut their price target on shares of Crown from $135.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, July 26th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Crown from $137.00 to $135.00 in a report on Tuesday, July 19th. Finally, Robert W. Baird dropped their price objective on shares of Crown from $165.00 to $130.00 in a report on Friday, July 22nd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $132.64.

Crown Company Profile

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Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food and beverage industries. The company also provides products for industrial products, such as steel and plastic strap consumables and equipment, paper-based protective packaging, and plastic film consumables and equipment to metals, food and beverage, construction, agricultural, corrugated, and general industries.

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Institutional Ownership by Quarter for Crown (NYSE:CCK)

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