Victory Capital Management Inc. Buys 350,265 Shares of Crown Holdings, Inc. (NYSE:CCK)

Victory Capital Management Inc. boosted its stake in Crown Holdings, Inc. (NYSE:CCK) by 7.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,136,706 shares of the industrial products company’s stock after acquiring an additional 350,265 shares during the period. Crown accounts for 0.5% of Victory Capital Management Inc.’s portfolio, making the stock its 20th biggest position. Victory Capital Management Inc.’s holdings in Crown were worth $473,039,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Cannell & Co. boosted its holdings in Crown by 44.9% in the fourth quarter. Cannell & Co. now owns 195,127 shares of the industrial products company’s stock valued at $17,969,000 after acquiring an additional 60,510 shares during the last quarter. Amica Mutual Insurance Co. lifted its stake in Crown by 11.4% in the fourth quarter. Amica Mutual Insurance Co. now owns 85,512 shares of the industrial products company’s stock valued at $7,875,000 after buying an additional 8,759 shares during the period. Retirement Systems of Alabama lifted its stake in Crown by 0.3% in the fourth quarter. Retirement Systems of Alabama now owns 151,103 shares of the industrial products company’s stock valued at $13,915,000 after buying an additional 460 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its stake in Crown by 5.3% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,057 shares of the industrial products company’s stock valued at $282,000 after buying an additional 154 shares during the period. Finally, Atria Wealth Solutions Inc. acquired a new position in Crown in the fourth quarter valued at approximately $233,000. 90.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CCK shares. Wells Fargo & Company lowered their target price on Crown from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 11th. Truist Financial reaffirmed a “hold” rating and set a $88.00 target price (down from $100.00) on shares of Crown in a research report on Wednesday, March 27th. Wolfe Research started coverage on Crown in a research report on Friday, March 1st. They set an “outperform” rating and a $102.00 target price on the stock. Royal Bank of Canada lowered their target price on Crown from $110.00 to $97.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. increased their price target on Crown from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $100.29.

Crown Stock Performance

Shares of CCK stock traded up $1.14 on Wednesday, hitting $83.21. 645,721 shares of the stock were exchanged, compared to its average volume of 1,241,169. The company has a current ratio of 1.15, a quick ratio of 0.77 and a debt-to-equity ratio of 2.34. The firm has a market capitalization of $10.05 billion, a PE ratio of 23.91, a P/E/G ratio of 2.75 and a beta of 0.91. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $96.35. The firm’s 50 day moving average is $77.78 and its two-hundred day moving average is $82.62.

Crown (NYSE:CCK) last posted its quarterly earnings results on Monday, April 29th. The industrial products company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.06. The company had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.93 billion. Crown had a return on equity of 24.23% and a net margin of 3.51%. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.20 EPS. Sell-side analysts expect that Crown Holdings, Inc. will post 5.9 earnings per share for the current fiscal year.

Crown Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.25 per share. This is an increase from Crown’s previous quarterly dividend of $0.24. The ex-dividend date was Wednesday, March 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.20%. Crown’s dividend payout ratio is presently 28.82%.

Insider Buying and Selling

In related news, CEO Timothy J. Donahue sold 22,500 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $85.18, for a total transaction of $1,916,550.00. Following the sale, the chief executive officer now owns 616,178 shares of the company’s stock, valued at approximately $52,486,042.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is currently owned by insiders.

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.