Victory Capital Management Inc. Grows Position in Crown Holdings, Inc. (NYSE:CCK)

Victory Capital Management Inc. lifted its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 7.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,676,902 shares of the industrial products company's stock after purchasing an additional 412,973 shares during the period. Crown comprises approximately 0.5% of Victory Capital Management Inc.'s investment portfolio, making the stock its 17th largest holding. Victory Capital Management Inc. owned 4.71% of Crown worth $544,301,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its position in shares of Crown by 21.0% during the first quarter. Russell Investments Group Ltd. now owns 341,216 shares of the industrial products company's stock valued at $27,045,000 after buying an additional 59,267 shares during the period. Entropy Technologies LP increased its position in shares of Crown by 1,127.4% in the first quarter. Entropy Technologies LP now owns 27,456 shares of the industrial products company's stock worth $2,176,000 after purchasing an additional 25,219 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Crown by 16.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 103,013 shares of the industrial products company's stock worth $8,163,000 after purchasing an additional 14,501 shares during the last quarter. Sei Investments Co. increased its position in shares of Crown by 139.2% in the second quarter. Sei Investments Co. now owns 122,380 shares of the industrial products company's stock worth $9,104,000 after purchasing an additional 71,227 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Crown by 16.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 131,635 shares of the industrial products company's stock worth $10,888,000 after purchasing an additional 18,165 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company's stock.

Crown Trading Down 0.1 %

Shares of Crown stock traded down $0.07 during midday trading on Tuesday, reaching $94.00. 733,617 shares of the company's stock traded hands, compared to its average volume of 1,114,234. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21. The company has a market cap of $11.24 billion, a PE ratio of 116.04, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The stock has a 50 day moving average of $93.58 and a 200-day moving average of $86.40. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $98.46.

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

Crown Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be issued a $0.25 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.06%. Crown's dividend payout ratio (DPR) is 123.46%.

Insiders Place Their Bets

In other Crown news, Director James H. Miller sold 1,006 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $95.60, for a total value of $96,173.60. Following the completion of the transaction, the director now owns 12,424 shares in the company, valued at approximately $1,187,734.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director James H. Miller sold 1,006 shares of the firm's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the transaction, the director now directly owns 12,424 shares in the company, valued at $1,187,734.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the firm's 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 transaction, the chief executive officer now owns 563,678 shares of the company's stock, valued at $54,524,572.94. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,506 shares of company stock worth $3,157,399. 0.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Robert W. Baird upped their target price on Crown from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday, October 21st. Morgan Stanley upped their target price on Crown from $105.00 to $109.00 and gave the stock an "equal weight" rating in a research note on Monday, October 21st. Citigroup upped their target price on Crown from $100.00 to $110.00 and gave the stock a "buy" rating in a research note on Wednesday, October 2nd. Wells Fargo & Company upped their target price on Crown from $97.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Monday, October 21st. Finally, Barclays upped their target price on Crown from $100.00 to $112.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Crown presently has a consensus rating of "Moderate Buy" and an average price target of $106.62.

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.