Geode Capital Management LLC Has $197.24 Million Stake in Crown Holdings, Inc. (NYSE:CCK)

Geode Capital Management LLC grew its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 4.2% in the third quarter, Holdings Channel reports. The institutional investor owned 2,061,869 shares of the industrial products company’s stock after purchasing an additional 82,764 shares during the period. Geode Capital Management LLC’s holdings in Crown were worth $197,242,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CCK. Sumitomo Mitsui Trust Group Inc. raised its holdings in Crown by 4.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 249,041 shares of the industrial products company’s stock valued at $23,878,000 after acquiring an additional 10,295 shares in the last quarter. Sei Investments Co. increased its position in shares of Crown by 139.2% during the second quarter. Sei Investments Co. now owns 122,380 shares of the industrial products company’s stock valued at $9,104,000 after purchasing an additional 71,227 shares during the period. Jensen Investment Management Inc. raised its stake in shares of Crown by 7.8% in the third quarter. Jensen Investment Management Inc. now owns 100,918 shares of the industrial products company’s stock valued at $9,676,000 after purchasing an additional 7,280 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Crown by 62.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 23,142 shares of the industrial products company’s stock worth $1,722,000 after purchasing an additional 8,857 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Crown by 7.8% during the third quarter. Victory Capital Management Inc. now owns 5,676,902 shares of the industrial products company’s stock worth $544,301,000 after buying an additional 412,973 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CCK shares. Robert W. Baird raised their price objective on shares of Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Wells Fargo & Company lifted their price objective on Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Loop Capital increased their target price on Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Morgan Stanley raised their target price on Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Finally, Barclays upped their price target on Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a research report 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $106.62.

Crown Stock Down 0.2 %

Shares of NYSE CCK opened at $87.88 on Monday. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. The company has a market cap of $10.51 billion, a price-to-earnings ratio of 108.49, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83. Crown Holdings, Inc. has a 12-month low of $69.61 and a 12-month high of $98.46. The firm’s 50-day simple moving average is $92.45 and its 200 day simple moving average is $87.51.

Crown (NYSE:CCK) last announced its earnings results 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 company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. On average, research analysts expect that Crown Holdings, Inc. will post 6.34 earnings per share for the current fiscal year.

Crown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.14%. Crown’s dividend payout ratio (DPR) is currently 123.46%.

Insider Transactions at Crown

In other Crown news, COO Gerard H. Gifford sold 10,000 shares of Crown stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the completion of the sale, the chief operating officer now owns 114,402 shares of the company’s stock, valued at approximately $10,970,007.78. The trade was a 8.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the 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 completion of the transaction, the chief executive officer now directly owns 563,678 shares in the company, valued at approximately $54,524,572.94. This trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,006 shares of company stock worth $2,478,049 over the last 90 days. 0.90% of the stock is owned by insiders.

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.