Charles Schwab Investment Management Inc. Acquires 13,145 Shares of Crown Holdings, Inc. (NYSE:CCK)

Charles Schwab Investment Management Inc. lifted its holdings in Crown Holdings, Inc. (NYSE:CCK) by 1.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 803,735 shares of the industrial products company’s stock after buying an additional 13,145 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Crown were worth $77,062,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its stake in shares of Crown by 6.1% in the second quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the industrial products company’s stock worth $205,000 after acquiring an additional 158 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Crown by 110.9% during the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after buying an additional 163 shares in the last quarter. Fifth Third Bancorp boosted its position in Crown by 36.1% in the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock valued at $49,000 after buying an additional 176 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Crown by 2.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 9,477 shares of the industrial products company’s stock valued at $894,000 after buying an additional 183 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in shares of Crown by 5.4% in the 2nd quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock valued at $303,000 after buying an additional 209 shares during the period. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Stock Performance

CCK stock opened at $93.02 on Thursday. Crown Holdings, Inc. has a 1-year low of $69.61 and a 1-year high of $98.46. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19. The firm has a market cap of $11.13 billion, a PE ratio of 113.89, a P/E/G ratio of 2.05 and a beta of 0.85. The business’s 50-day moving average price is $93.60 and its two-hundred day moving average price is $86.96.

Crown (NYSE:CCK) last issued its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.18. Crown had a return on equity of 24.57% and a net margin of 0.83%. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.07 billion. As a group, research analysts forecast that Crown Holdings, Inc. will post 6.34 earnings per share for the current year.

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.08%. Crown’s payout ratio is 123.46%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Truist Financial raised their target price on shares of Crown from $95.00 to $103.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Barclays boosted their price target on shares of Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Royal Bank of Canada raised their price objective on shares of Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a research report on Saturday, October 26th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $106.62.

Insider Activity at Crown

In related news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $90.58, for a total transaction of $679,350.00. Following the completion of the transaction, the chief executive officer now owns 578,678 shares in the company, valued at approximately $52,416,653.24. This represents a 1.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Gerard H. Gifford sold 10,000 shares of Crown stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the completion of the sale, the chief operating officer now owns 114,402 shares in the company, valued at $10,970,007.78. The trade was a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,506 shares of company stock valued at $3,157,399. 0.90% of the stock is owned by corporate insiders.

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.