Jensen Investment Management Inc. Buys 7,280 Shares of Crown Holdings, Inc. (NYSE:CCK)

by · The Cerbat Gem

Jensen Investment Management Inc. grew its position in shares of Crown Holdings, Inc. (NYSE:CCK – Free Report) by 7.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 100,918 shares of the industrial products company’s stock after purchasing an additional 7,280 shares during the quarter. Jensen Investment Management Inc. owned about 0.08% of Crown worth $9,676,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. raised its position in shares of Crown by 21.0% in the 1st quarter. Russell Investments Group Ltd. now owns 341,216 shares of the industrial products company’s stock worth $27,045,000 after acquiring an additional 59,267 shares in the last quarter. Entropy Technologies LP lifted its stake in Crown by 1,127.4% in the first quarter. Entropy Technologies LP now owns 27,456 shares of the industrial products company’s stock valued at $2,176,000 after buying an additional 25,219 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Crown by 16.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 103,013 shares of the industrial products company’s stock worth $8,163,000 after buying an additional 14,501 shares in the last quarter. Sei Investments Co. grew its position in shares of Crown by 139.2% during the 2nd quarter. Sei Investments Co. now owns 122,380 shares of the industrial products company’s stock worth $9,104,000 after buying an additional 71,227 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Crown by 16.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 131,635 shares of the industrial products company’s stock valued at $10,888,000 after acquiring an additional 18,165 shares in the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Stock Performance

Shares of NYSE CCK traded up $0.48 during midday trading on Friday, reaching $93.40. The company’s stock had a trading volume of 750,539 shares, compared to its average volume of 1,191,240. The stock has a market capitalization of $11.17 billion, a P/E ratio of 115.31, a PEG ratio of 2.08 and a beta of 0.85. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. The firm has a 50 day moving average price of $93.43 and a 200-day moving average price of $86.15. Crown Holdings, Inc. has a 12-month low of $69.61 and a 12-month high of $98.46.

Crown (NYSE:CCK – Get Free Report) last released its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.18. The firm had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. As a group, equities analysts predict that Crown Holdings, Inc. will post 6.34 earnings per share for the current year.

Crown Announces Dividend

The firm also recently disclosed 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. This represents a $1.00 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Thursday, November 14th. Crown’s dividend payout ratio (DPR) is presently 123.46%.

Insider Activity at Crown

In other news, Director James H. Miller sold 1,006 shares of Crown stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $95.60, for a total value of $96,173.60. Following the completion of the transaction, the director now directly owns 12,424 shares in the company, valued at approximately $1,187,734.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Crown news, Director James H. Miller sold 1,006 shares of the firm’s 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 owns 12,424 shares of the company’s stock, valued at $1,187,734.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Gerard H. Gifford sold 10,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 114,402 shares in the company, valued at $10,970,007.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,506 shares of company stock worth $3,157,399. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CCK shares. Barclays raised their price target on shares of Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Truist Financial boosted their target price on Crown from $95.00 to $103.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Citigroup increased their price target on Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Morgan Stanley raised their price objective on Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Finally, Mizuho set a $110.00 target price on Crown in a report on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $106.62.

Check Out Our Latest Research Report on CCK

About Crown

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding CCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crown Holdings, Inc. (NYSE:CCK – Free Report).