Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 8.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 82,618 shares of the industrial products company's stock after acquiring an additional 6,654 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of Crown worth $6,146,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of CCK. Rise Advisors LLC bought a new position in shares of Crown in the first quarter worth $27,000. Mather Group LLC. acquired a new stake in Crown during the first quarter worth about $32,000. Quest Partners LLC bought a new position in Crown in the 4th quarter valued at about $34,000. Quarry LP raised its position in shares of Crown by 190.3% in the 4th quarter. Quarry LP now owns 421 shares of the industrial products company's stock valued at $39,000 after buying an additional 276 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new stake in shares of Crown during the 1st quarter worth approximately $41,000. 90.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wells Fargo & Company boosted their price objective on shares of Crown from $85.00 to $88.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 24th. StockNews.com upgraded Crown from a "hold" rating to a "buy" rating in a research report on Wednesday, August 21st. Royal Bank of Canada raised their price objective on Crown from $96.00 to $105.00 and gave the company an "outperform" rating in a research note on Friday, July 26th. Truist Financial boosted their target price on Crown from $88.00 to $95.00 and gave the stock a "hold" rating in a research note on Wednesday, July 24th. Finally, Loop Capital raised their price target on shares of Crown from $106.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $100.21.

Crown Trading Up 1.4 %

Shares of CCK stock traded up $1.25 during trading hours on Friday, hitting $90.40. 899,666 shares of the company's stock traded hands, compared to its average volume of 1,134,022. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 2.00. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $94.49. The stock has a market cap of $10.92 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 2.09 and a beta of 0.85. The stock's 50 day simple moving average is $82.10 and its 200 day simple moving average is $80.25.

Crown (NYSE:CCK - Get Free Report) last announced its earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.22. Crown had a return on equity of 23.96% and a net margin of 3.68%. The business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same period last year, the company earned $1.68 EPS. Crown's revenue for the quarter was down 2.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Crown Holdings, Inc. will post 6.15 EPS for the current year.

Crown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Thursday, August 15th. Crown's dividend payout ratio is presently 28.82%.

Insiders Place Their Bets

In other news, CEO Timothy J. Donahue sold 7,500 shares of the company's stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total value of $643,875.00. Following the sale, the chief executive officer now directly owns 586,178 shares of the company's stock, valued at approximately $50,323,381.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Timothy J. Donahue sold 7,500 shares of the business's stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total value of $643,875.00. Following the transaction, the chief executive officer now owns 586,178 shares in the company, valued at $50,323,381.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director James H. Miller sold 9,000 shares of the company's stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $82.93, for a total transaction of $746,370.00. Following the sale, the director now directly owns 12,884 shares in the company, valued at approximately $1,068,470.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,500 shares of company stock worth $2,665,695. 0.90% of the stock is currently owned by insiders.

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.