Verition Fund Management LLC Raises Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Verition Fund Management LLC boosted its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 467.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 368,673 shares of the industrial products company's stock after acquiring an additional 303,647 shares during the period. Verition Fund Management LLC owned 0.31% of Crown worth $35,348,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its stake in shares of Crown by 22.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 198,984 shares of the industrial products company's stock worth $15,772,000 after acquiring an additional 36,895 shares during the last quarter. Kennedy Capital Management LLC raised its holdings in Crown by 5.7% in the 1st quarter. Kennedy Capital Management LLC now owns 19,540 shares of the industrial products company's stock worth $1,549,000 after acquiring an additional 1,050 shares during the last quarter. California State Teachers Retirement System lifted its position in Crown by 1.6% in the 1st quarter. California State Teachers Retirement System now owns 185,940 shares of the industrial products company's stock valued at $14,738,000 after acquiring an additional 2,875 shares in the last quarter. Tidal Investments LLC boosted its stake in Crown by 89.6% during the 1st quarter. Tidal Investments LLC now owns 9,844 shares of the industrial products company's stock valued at $780,000 after purchasing an additional 4,653 shares during the last quarter. Finally, Swedbank AB bought a new stake in shares of Crown in the 1st quarter worth $11,186,000. Institutional investors own 90.93% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. StockNews.com upgraded shares of Crown from a "hold" rating to a "buy" rating in a research note on Saturday, October 26th. Truist Financial lifted their target price on shares of Crown from $95.00 to $103.00 and gave the stock a "hold" rating in a research report on Tuesday, October 15th. Robert W. Baird increased their price target on Crown from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, October 21st. Mizuho set a $110.00 price objective on Crown in a report on Friday, October 18th. Finally, Barclays increased their target price on Crown from $100.00 to $112.00 and gave the company an "overweight" rating in a report 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 stock. According to data from MarketBeat.com, Crown presently has an average rating of "Moderate Buy" and an average price target of $106.62.

Insider Buying and Selling

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction 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 sale, the chief executive officer now directly owns 563,678 shares in the company, valued at approximately $54,524,572.94. The trade was a 1.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the transaction, the chief operating officer now directly owns 114,402 shares of the company's stock, valued at $10,970,007.78. This trade represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,506 shares of company stock valued at $3,157,399. Corporate insiders own 0.90% of the company's stock.

Crown Stock Performance

NYSE CCK traded down $0.93 on Friday, reaching $92.09. 420,081 shares of the stock were exchanged, compared to its average volume of 1,125,171. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $98.46. The firm has a market capitalization of $11.02 billion, a PE ratio of 113.69, a PEG ratio of 2.06 and a beta of 0.85. The company's 50-day simple moving average is $93.53 and its two-hundred day simple moving average is $87.11.

Crown (NYSE:CCK - Get Free Report) last released its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, beating analysts' consensus estimates of $1.81 by $0.18. Crown had a net margin of 0.83% and a return on equity of 24.57%. The company had revenue of $3.07 billion for the quarter, compared to analysts' expectations of $3.07 billion. Analysts expect that Crown Holdings, Inc. will post 6.34 EPS for the current fiscal year.

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.09%. The ex-dividend date was Thursday, November 14th. Crown's dividend payout ratio (DPR) is presently 123.46%.

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.