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

Victory Capital Management Inc. boosted its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 7.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,676,902 shares of the industrial products company’s stock after buying an additional 412,973 shares during the period. Crown makes up approximately 0.5% of Victory Capital Management Inc.’s holdings, making the stock its 17th largest holding. Victory Capital Management Inc.’s holdings in Crown were worth $544,301,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC raised its position in Crown by 6.1% during the second quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the industrial products company’s stock valued at $205,000 after acquiring an additional 158 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Crown by 110.9% in the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 163 shares during the period. Fifth Third Bancorp raised its position in Crown by 36.1% in the second quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 176 shares during the period. DekaBank Deutsche Girozentrale boosted its position in shares of Crown by 2.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 9,477 shares of the industrial products company’s stock worth $894,000 after purchasing an additional 183 shares during the period. Finally, CIBC Asset Management Inc increased its position in shares of Crown by 5.4% during the second quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock worth $303,000 after acquiring an additional 209 shares during the period. 90.93% of the stock is owned by institutional investors.

Insider Activity

In related news, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total value of $958,900.00. Following the completion of the transaction, the chief operating officer now owns 114,402 shares of the company’s stock, valued at approximately $10,970,007.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, COO Gerard H. Gifford sold 10,000 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was 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 in the company, valued at approximately $10,970,007.78. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James H. Miller sold 1,006 shares of Crown stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $95.60, for a total value of $96,173.60. Following the sale, the director now directly owns 12,424 shares in the company, valued at approximately $1,187,734.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,506 shares of company stock valued at $3,157,399. 0.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Robert W. Baird increased their price objective on Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Barclays boosted their price objective on shares of Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research report on Saturday, October 26th. Mizuho set a $110.00 price target on Crown in a report on Friday, October 18th. Finally, UBS Group dropped their price target on shares of Crown from $112.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Crown presently has a consensus rating of “Moderate Buy” and an average target price of $106.62.

Crown Price Performance

Shares of Crown stock remained flat at $94.07 during trading hours on Tuesday. 126,904 shares of the stock were exchanged, compared to its average volume of 1,111,428. Crown Holdings, Inc. has a 12-month low of $69.61 and a 12-month high of $98.46. The stock has a market cap of $11.25 billion, a PE ratio of 116.98, a P/E/G ratio of 2.07 and a beta of 0.85. 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 business’s 50 day simple moving average is $93.51 and its 200 day simple moving average is $86.30.

Crown (NYSE:CCK) last issued its quarterly earnings results on Thursday, October 17th. The industrial products company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.18. Crown had a return on equity of 24.57% and a net margin of 0.83%. The company had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.07 billion. As a group, sell-side analysts forecast that Crown Holdings, Inc. will post 6.34 EPS for the current fiscal year.

Crown Announces Dividend

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

About Crown

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.