Avanza Fonder AB Invests $970,000 in Crown Holdings, Inc. (NYSE:CCK)

Avanza Fonder AB purchased a new position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 11,732 shares of the industrial products company's stock, valued at approximately $970,000.

Several other large investors also recently modified their holdings of the stock. GAMMA Investing LLC boosted its position in shares of 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 purchasing an additional 163 shares in the last quarter. Covestor Ltd boosted its holdings in Crown by 156.5% in the third quarter. Covestor Ltd now owns 454 shares of the industrial products company's stock worth $44,000 after acquiring an additional 277 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Crown in the third quarter valued at approximately $44,000. Catalyst Capital Advisors LLC bought a new stake in shares of Crown during the third quarter valued at approximately $48,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Crown during the third quarter worth approximately $55,000. Institutional investors and hedge funds own 90.93% of the company's stock.

Analyst Ratings Changes

CCK has been the subject of several research reports. Royal Bank of Canada lifted their price target on shares of Crown from $105.00 to $113.00 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd. Truist Financial boosted their target price on shares of Crown from $103.00 to $104.00 and gave the stock a "hold" rating in a research report on Monday, January 6th. Wells Fargo & Company cut their price target on Crown from $88.00 to $86.00 and set an "equal weight" rating for the company in a research note on Thursday. Citigroup increased their price objective on Crown from $110.00 to $111.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Finally, Loop Capital lifted their target price on Crown from $120.00 to $129.00 and gave the company a "buy" rating in a research report on Monday, October 21st. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $105.46.

Crown Stock Performance

CCK traded up $0.38 during trading on Monday, hitting $85.59. 1,126,690 shares of the company traded hands, compared to its average volume of 1,101,216. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $98.46. The stock's fifty day moving average is $86.75 and its 200 day moving average is $88.18. The firm has a market cap of $10.24 billion, a P/E ratio of 105.66, a price-to-earnings-growth ratio of 1.51 and a beta of 0.86. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19.

Crown (NYSE:CCK - Get Free Report) last announced its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 earnings per share 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, equities analysts predict that Crown Holdings, Inc. will post 6.35 EPS for the current fiscal year.

Crown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.17%. The ex-dividend date was Thursday, November 14th. Crown's dividend payout ratio (DPR) is presently 123.46%.

Insiders Place Their Bets

In other news, CEO Timothy J. Donahue sold 7,500 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total value of $725,475.00. Following the completion of the transaction, the chief executive officer now directly owns 563,678 shares in the company, valued at approximately $54,524,572.94. This trade represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was 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. This represents a 8.04 % 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.

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.