Crown Holdings, Inc. (NYSE:CCK) Shares Purchased by Deutsche Bank AG

Deutsche Bank AG increased its stake in Crown Holdings, Inc. (NYSE:CCK) by 25.9% during the 1st quarter, HoldingsChannel reports. The firm owned 275,514 shares of the industrial products company’s stock after acquiring an additional 56,664 shares during the period. Deutsche Bank AG’s holdings in Crown were worth $24,592,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in CCK. Larson Financial Group LLC grew its holdings in shares of Crown by 47.6% in the 1st quarter. Larson Financial Group LLC now owns 332 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 107 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Crown by 161.2% during the 1st quarter. Signaturefd LLC now owns 397 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 245 shares in the last quarter. Colonial Trust Co SC lifted its position in shares of Crown by 88.0% during the 4th quarter. Colonial Trust Co SC now owns 752 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 352 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Crown by 33.8% during the 1st quarter. Parallel Advisors LLC now owns 811 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 205 shares during the last quarter. Finally, Natixis acquired a new position in Crown in the 4th quarter valued at approximately $91,000. Institutional investors own 90.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wall Street Zen cut Crown from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 9th. Bank of America lifted their target price on Crown from $110.00 to $117.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Barclays lifted their price target on Crown from $109.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Citigroup reaffirmed a “buy” rating on shares of Crown in a research report on Wednesday, July 23rd. Finally, Loop Capital boosted their price objective on Crown from $129.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $120.67.

Crown Price Performance

CCK stock opened at $102.87 on Thursday. Crown Holdings, Inc. has a 1 year low of $75.98 and a 1 year high of $109.48. The company has a market cap of $11.97 billion, a P/E ratio of 21.61, a PEG ratio of 1.55 and a beta of 0.74. The firm has a 50-day moving average of $103.17 and a 200 day moving average of $94.80. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.06 and a quick ratio of 0.69.

Crown (NYSE:CCK) last posted its quarterly earnings results on Monday, July 21st. The industrial products company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.29. The firm had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.10 billion. Crown had a net margin of 4.64% and a return on equity of 27.15%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.81 earnings per share. On average, sell-side analysts forecast that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, August 7th. Crown’s dividend payout ratio (DPR) is presently 21.85%.

Insider Buying and Selling at Crown

In other news, CAO Gerard H. Gifford sold 8,222 shares of the business’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $102.93, for a total value of $846,290.46. Following the sale, the chief accounting officer directly owned 122,585 shares in the company, valued at $12,617,674.05. The trade was a 6.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Christy L. Kalaus sold 2,130 shares of the business’s 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 completion of the sale, the vice president owned 4,500 shares in the company, valued at approximately $447,345. This trade represents a 32.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

About Crown

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.