APG Asset Management N.V. lessened its holdings in Crown Holdings, Inc. (NYSE:CCK) by 5.1% in the second quarter, Holdings Channel reports. The firm owned 954,291 shares of the industrial products company’s stock after selling 50,836 shares during the period. APG Asset Management N.V.’s holdings in Crown were worth $82,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Handelsbanken Fonder AB grew its stake in Crown by 102.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 352,200 shares of the industrial products company’s stock valued at $35,998,000 after purchasing an additional 178,500 shares during the period. Railway Pension Investments Ltd grew its stake in shares of Crown by 172.8% during the 1st quarter. Railway Pension Investments Ltd now owns 50,200 shares of the industrial products company’s stock worth $4,871,000 after acquiring an additional 31,800 shares during the period. PDT Partners LLC bought a new position in shares of Crown during the 1st quarter worth $1,151,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of Crown by 5.8% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 43,546 shares of the industrial products company’s stock worth $4,451,000 after acquiring an additional 2,400 shares during the period. Finally, Millennium Management LLC grew its stake in shares of Crown by 30.9% during the 1st quarter. Millennium Management LLC now owns 1,089,029 shares of the industrial products company’s stock worth $105,679,000 after acquiring an additional 257,198 shares during the period. Hedge funds and other institutional investors own 86.19% of the company’s stock.
Shares of Crown stock opened at $102.21 on Thursday. The company has a current ratio of 1.57, a quick ratio of 1.24 and a debt-to-equity ratio of 2.89. The firm has a market capitalization of $13.79 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 2.83 and a beta of 1.18. The business’s 50-day moving average price is $105.97 and its 200-day moving average price is $104.81. Crown Holdings, Inc. has a 12 month low of $79.90 and a 12 month high of $114.55.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 19th. Investors of record on Thursday, August 5th were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, August 4th. This represents a $0.80 annualized dividend and a yield of 0.78%. Crown’s payout ratio is 13.51%.
In other news, insider Hock Huat Goh sold 3,735 shares of Crown stock in a transaction that occurred on Tuesday, August 31st. The stock was sold at an average price of $110.21, for a total value of $411,634.35. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director John W. Conway sold 370 shares of the firm’s stock in a transaction that occurred on Wednesday, July 28th. The shares were sold at an average price of $100.03, for a total value of $37,011.10. Following the completion of the transaction, the director now owns 1,031,407 shares of the company’s stock, valued at approximately $103,171,642.21. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.
Several research analysts have recently weighed in on the company. Truist Securities assumed coverage on Crown in a research note on Tuesday, September 14th. They set a “buy” rating and a $138.00 price target for the company. Mizuho started coverage on Crown in a report on Tuesday. They set a “buy” rating and a $129.00 price objective on the stock. Loop Capital started coverage on Crown in a report on Tuesday, October 5th. They set a “buy” rating and a $165.00 price objective on the stock. Barclays started coverage on Crown in a report on Monday, September 20th. They set an “overweight” rating and a $140.00 price objective on the stock. Finally, Truist started coverage on Crown in a report on Monday, September 13th. They set a “positive” rating and a $138.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $124.58.
Crown Company Profile
Crown Holdings, Inc engages in the design, manufacture, and sale of packaging products and equipment for consumer goods. The firm offers aerosol cans; beverage, promotional, and transit packaging; closures and capping; and food cans. It operates through the following segments: Americas, Europe, Asia Pacific, and Transit Packaging.
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