Charles Schwab Investment Management Inc. Grows Position in Crown Holdings, Inc. (NYSE:CCK)

Charles Schwab Investment Management Inc. lifted its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 1.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 822,332 shares of the industrial products company’s stock after buying an additional 9,858 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Crown were worth $73,401,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. ASR Vermogensbeheer N.V. bought a new position in Crown in the first quarter valued at about $550,000. Westwood Holdings Group Inc. raised its stake in shares of Crown by 12.6% in the first quarter. Westwood Holdings Group Inc. now owns 300,978 shares of the industrial products company’s stock worth $26,865,000 after buying an additional 33,597 shares during the period. iA Global Asset Management Inc. raised its stake in shares of Crown by 4.5% in the first quarter. iA Global Asset Management Inc. now owns 5,781 shares of the industrial products company’s stock worth $516,000 after buying an additional 251 shares during the period. Atria Wealth Solutions Inc. bought a new position in shares of Crown in the first quarter worth about $482,000. Finally, Raiffeisen Bank International AG raised its stake in shares of Crown by 38.5% in the first quarter. Raiffeisen Bank International AG now owns 96,968 shares of the industrial products company’s stock worth $8,553,000 after buying an additional 26,968 shares during the period. 90.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Christy L. Kalaus sold 2,130 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $99.41, for a total value of $211,743.30. Following the completion of the sale, the vice president directly owned 4,500 shares in the company, valued at $447,345. This represents a 32.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Gerard H. Gifford sold 8,222 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $102.93, for a total value of $846,290.46. Following the completion of the sale, the chief accounting officer owned 122,585 shares of the company’s stock, valued at $12,617,674.05. This trade represents a 6.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CCK has been the topic of several recent research reports. Loop Capital raised their price objective on Crown from $129.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Bank of America raised their price objective on Crown from $110.00 to $117.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Truist Financial reaffirmed a “hold” rating and issued a $118.00 price objective (up previously from $117.00) on shares of Crown in a research note on Wednesday, July 23rd. Royal Bank Of Canada lifted their target price on Crown from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Finally, Citigroup reissued a “buy” rating on shares of Crown in a research note on Wednesday, July 23rd. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $120.67.

Crown Stock Up 1.3%

Shares of CCK opened at $102.87 on Thursday. Crown Holdings, Inc. has a 52 week low of $75.98 and a 52 week high of $109.48. The company has a quick ratio of 0.69, a current ratio of 1.06 and a debt-to-equity ratio of 1.67. The company has a market capitalization of $11.97 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 1.55 and a beta of 0.74. The stock’s 50-day moving average price is $103.17 and its 200-day moving average price is $94.80.

Crown (NYSE:CCK) last announced its 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. Crown had a return on equity of 27.15% and a net margin of 4.64%. The business had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the prior year, the firm earned $1.81 earnings per share. The business’s revenue was up 3.6% compared to the same quarter last year. On average, sell-side analysts predict that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be given a $0.26 dividend. The ex-dividend date is Thursday, August 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. Crown’s dividend payout ratio is 21.85%.

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.