Chesapeake Capital Corp IL Makes New Investment in Crown Holdings, Inc. (NYSE:CCK)

Chesapeake Capital Corp IL purchased a new position in Crown Holdings, Inc. (NYSE:CCK - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 11,717 shares of the industrial products company's stock, valued at approximately $1,110,000. Crown accounts for about 1.0% of Chesapeake Capital Corp IL's holdings, making the stock its 18th largest holding.

Several other institutional investors also recently added to or reduced their stakes in CCK. GAMMA Investing LLC grew 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 acquiring an additional 163 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Crown by 156.5% in the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company's stock valued at $44,000 after buying an additional 277 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of Crown in the 3rd quarter valued at about $48,000. EntryPoint Capital LLC bought a new stake in shares of Crown in the 1st quarter valued at about $41,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Crown in the 3rd quarter valued at about $55,000. Hedge funds and other institutional investors own 90.93% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CCK shares. StockNews.com upgraded shares of Crown from a "hold" rating to a "buy" rating in a report on Saturday, October 26th. Loop Capital raised their price target on shares of Crown from $120.00 to $129.00 and gave the company a "buy" rating in a report on Monday, October 21st. Royal Bank of Canada raised their price target on shares of Crown from $105.00 to $113.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. Bank of America raised their price target on shares of Crown from $98.00 to $102.00 and gave the company a "buy" rating in a report on Wednesday, July 24th. Finally, Barclays lifted their target price 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. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Crown currently has an average rating of "Moderate Buy" and a consensus price target of $106.62.

Crown Stock Performance

CCK traded down $0.20 during trading on Friday, reaching $89.86. 1,726,879 shares of the company's stock were exchanged, compared to its average volume of 1,059,261. Crown Holdings, Inc. has a 1 year low of $69.61 and a 1 year high of $98.46. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. The stock has a market capitalization of $10.75 billion, a P/E ratio of 110.94, a price-to-earnings-growth ratio of 1.99 and a beta of 0.85. The company's fifty day simple moving average is $93.58 and its 200-day simple moving average is $86.58.

Crown (NYSE:CCK - Get Free Report) last posted its earnings results 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. The firm had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. As a group, research analysts predict that Crown Holdings, Inc. will post 6.34 earnings per share for the current fiscal year.

Crown Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Thursday, November 14th. Crown's dividend payout ratio (DPR) is 123.46%.

Insider Activity

In related news, Director James H. Miller sold 1,006 shares of the business's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total value of $96,173.60. Following the completion of the sale, the director now owns 12,424 shares of the company's stock, valued at approximately $1,187,734.40. The trade was a 7.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total transaction of $725,475.00. Following the completion of the sale, the chief executive officer now directly owns 563,678 shares of the company's stock, valued at approximately $54,524,572.94. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,506 shares of company stock valued at $3,157,399 in the last three months. 0.90% of the stock is currently 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.