Janney Montgomery Scott LLC Acquires 1,952 Shares of Crown Holdings, Inc. (NYSE:CCK)

Posted by Defense World Staff on Oct 27th, 2023

Janney Montgomery Scott LLC lifted its holdings in Crown Holdings, Inc. (NYSE:CCK – Free Report) by 28.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,870 shares of the industrial products company’s stock after buying an additional 1,952 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Crown were worth $771,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Crown by 1.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 735,554 shares of the industrial products company’s stock valued at $60,838,000 after buying an additional 7,953 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Crown by 0.7% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 40,019 shares of the industrial products company’s stock valued at $3,310,000 after buying an additional 271 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in Crown in the second quarter worth about $1,293,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Crown in the first quarter worth about $1,007,000. Finally, Arizona State Retirement System increased its position in Crown by 1.7% in the first quarter. Arizona State Retirement System now owns 34,871 shares of the industrial products company’s stock worth $2,884,000 after purchasing an additional 574 shares during the period. 95.18% of the stock is owned by institutional investors.

Crown Trading Up 2.3 %

NYSE:CCK opened at $81.13 on Friday. Crown Holdings, Inc. has a fifty-two week low of $66.76 and a fifty-two week high of $96.35. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.13 and a quick ratio of 0.76. The stock has a market capitalization of $9.78 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. The business’s 50-day simple moving average is $86.82 and its 200-day simple moving average is $85.71.

Crown (NYSE:CCK – Get Free Report) last released its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.73 earnings per share for the quarter, meeting the consensus estimate of $1.73. The business had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3.23 billion. Crown had a return on equity of 26.84% and a net margin of 4.17%. Crown’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.46 EPS. Sell-side analysts expect that Crown Holdings, Inc. will post 6.14 earnings per share for the current fiscal year.

Crown Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.18%. Crown’s payout ratio is 22.70%.

Analysts Set New Price Targets

A number of analysts recently commented on CCK shares. JPMorgan Chase & Co. lifted their price objective on Crown from $88.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, August 10th. Jefferies Financial Group lowered their price objective on Crown from $123.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, October 18th. Barclays lowered their price objective on Crown from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday. Wells Fargo & Company lowered their price objective on Crown from $86.00 to $74.00 and set an “equal weight” rating for the company in a research report on Thursday, October 19th. Finally, StockNews.com upgraded Crown from a “sell” rating to a “hold” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Crown has a consensus rating of “Moderate Buy” and an average price target of $101.33.

Check Out Our Latest Stock Report on CCK

Insider Transactions at Crown

In other news, VP Christy L. Kalaus sold 1,914 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $90.67, for a total transaction of $173,542.38. Following the sale, the vice president now owns 7,500 shares in the company, valued at approximately $680,025. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Gerard H. Gifford sold 9,784 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $92.24, for a total transaction of $902,476.16. Following the sale, the chief operating officer now owns 123,399 shares in the company, valued at approximately $11,382,323.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Christy L. Kalaus sold 1,914 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $90.67, for a total value of $173,542.38. Following the transaction, the vice president now directly owns 7,500 shares in the company, valued at $680,025. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Crown Company Profile

(Free Report)

Crown Holdings, Inc, together with its subsidiaries, supplies rigid packaging products in Pennsylvania and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The Americas Beverage segment manufactures recyclable aluminum beverage cans and ends, glass bottles, steel crowns, and aluminum caps.