3,080 Shares in Crown Holdings, Inc. (NYSE:CCK) Purchased by Merit Financial Group LLC

Merit Financial Group LLC acquired a new position in Crown Holdings, Inc. (NYSE:CCK - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,080 shares of the industrial products company's stock, valued at approximately $255,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Metropolis Capital Ltd increased its stake in shares of Crown by 269.7% in the 3rd quarter. Metropolis Capital Ltd now owns 1,455,752 shares of the industrial products company's stock worth $139,578,000 after acquiring an additional 1,062,001 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Crown by 125.0% during the third quarter. Jennison Associates LLC now owns 1,352,711 shares of the industrial products company's stock valued at $129,698,000 after purchasing an additional 751,530 shares in the last quarter. FMR LLC lifted its holdings in shares of Crown by 9.3% during the third quarter. FMR LLC now owns 8,787,606 shares of the industrial products company's stock valued at $842,556,000 after purchasing an additional 749,085 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Crown by 7.8% in the 3rd quarter. Victory Capital Management Inc. now owns 5,676,902 shares of the industrial products company's stock worth $544,301,000 after purchasing an additional 412,973 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Crown by 47.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,269,874 shares of the industrial products company's stock worth $121,756,000 after buying an additional 408,828 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wells Fargo & Company lowered their price objective on Crown from $88.00 to $86.00 and set an "equal weight" rating for the company in a research note on Thursday, January 16th. StockNews.com raised Crown from a "hold" rating to a "buy" rating in a research report on Saturday, January 18th. Truist Financial increased their price objective on shares of Crown from $103.00 to $104.00 and gave the company a "hold" rating in a research report on Monday, January 6th. Robert W. Baird raised their price objective on shares of Crown from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, October 21st. Finally, Barclays upped 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. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $105.46.

Insider Activity at Crown

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total value of $725,475.00. Following the completion of the sale, the chief executive officer now owns 563,678 shares in the company, valued at $54,524,572.94. This represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by company insiders.

Crown Stock Performance

Shares of CCK stock traded down $0.49 on Friday, reaching $87.93. The stock had a trading volume of 1,389,563 shares, compared to its average volume of 910,253. The company has a 50 day simple moving average of $86.26 and a 200 day simple moving average of $88.70. The stock has a market cap of $10.52 billion, a P/E ratio of 108.55, a price-to-earnings-growth ratio of 1.68 and a beta of 0.86. 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 quick ratio of 0.84 and a current ratio of 1.21.

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.