Citigroup Inc. Boosts Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

Citigroup Inc. lifted its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 11.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 73,654 shares of the industrial products company's stock after purchasing an additional 7,319 shares during the quarter. Citigroup Inc. owned about 0.06% of Crown worth $7,062,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. GAMMA Investing LLC raised its position in Crown by 110.9% in the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 163 shares during the period. Covestor Ltd lifted its stake in Crown by 156.5% during the 3rd 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. Blue Trust Inc. boosted its holdings in Crown by 172.6% during the 2nd quarter. Blue Trust Inc. now owns 608 shares of the industrial products company's stock valued at $48,000 after acquiring an additional 385 shares during the period. Catalyst Capital Advisors LLC purchased a new position in Crown during the 3rd quarter valued at about $48,000. Finally, Fifth Third Bancorp increased its stake in Crown by 36.1% during the second quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company's stock worth $49,000 after purchasing an additional 176 shares during the period. 90.93% of the stock is owned by institutional investors and hedge funds.

Crown Stock Down 1.0 %

Shares of Crown stock traded down $0.93 during trading hours on Friday, hitting $92.09. The company had a trading volume of 420,081 shares, compared to its average volume of 1,093,787. 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 company's 50-day moving average is $93.53 and its two-hundred day moving average is $87.11. The company has a market cap of $11.02 billion, a P/E ratio of 113.69, a price-to-earnings-growth ratio of 2.04 and a beta of 0.85. Crown Holdings, Inc. has a twelve month low of $69.61 and a twelve month high of $98.46.

Crown (NYSE:CCK - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.07 billion. Analysts anticipate that Crown Holdings, Inc. will post 6.34 earnings per share for the current fiscal year.

Crown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Thursday, November 14th. Crown's dividend payout ratio is currently 123.46%.

Insider Activity

In other news, COO Gerard H. Gifford sold 10,000 shares of the company's stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total value of $958,900.00. Following the completion of the sale, the chief operating officer now directly owns 114,402 shares of the company's stock, valued at approximately $10,970,007.78. This represents a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James H. Miller sold 1,006 shares of the firm's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $95.60, for a total value of $96,173.60. Following the transaction, the director now directly owns 12,424 shares in the company, valued at approximately $1,187,734.40. This represents a 7.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,506 shares of company stock valued at $3,157,399. 0.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CCK has been the subject of several recent research reports. Morgan Stanley raised their price objective on shares of Crown from $105.00 to $109.00 and gave the company an "equal weight" rating in a research note on Monday, October 21st. Loop Capital boosted their price target on shares of Crown from $120.00 to $129.00 and gave the stock a "buy" rating in a research note on Monday, October 21st. Citigroup increased their price objective on Crown from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Wednesday, October 2nd. Mizuho set a $110.00 target price on Crown in a research note on Friday, October 18th. Finally, Barclays increased their price target on Crown from $100.00 to $112.00 and gave the company an "overweight" rating in a research report on Monday, October 21st. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $106.62.

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.