Pacer Advisors Inc. Boosts Stake in Crown Holdings, Inc. (NYSE:CCK)

Pacer Advisors Inc. raised its position in Crown Holdings, Inc. (NYSE:CCK) by 10,138.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,105,118 shares of the industrial products company’s stock after purchasing an additional 3,074,791 shares during the quarter. Pacer Advisors Inc. owned 2.60% of Crown worth $256,762,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CCK. GAMMA Investing LLC boosted its holdings in Crown by 110.9% during the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 163 shares during the period. Covestor Ltd grew its holdings in shares of Crown by 156.5% in the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 277 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Crown during the 3rd quarter worth approximately $44,000. Catalyst Capital Advisors LLC acquired a new stake in Crown during the 3rd quarter worth approximately $48,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Crown in the 3rd quarter valued at approximately $55,000. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, 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 transaction of $725,475.00. Following the completion of the sale, the chief executive officer now owns 563,678 shares in the company, valued at $54,524,572.94. This represents a 1.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is currently owned by company insiders.

Crown Stock Performance

Shares of CCK stock opened at $87.93 on Monday. The stock’s 50-day moving average is $86.26 and its two-hundred day moving average is $88.70. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21. Crown Holdings, Inc. has a 1 year low of $69.61 and a 1 year high of $98.46. The firm has a market cap of $10.52 billion, a price-to-earnings ratio of 108.55, a PEG ratio of 1.68 and a beta of 0.86.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Truist Financial increased their price objective on Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research note on Monday, January 6th. StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a research note on Saturday, January 18th. Wells Fargo & Company lowered their price objective on Crown from $88.00 to $86.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Robert W. Baird lifted their price target on shares of Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Finally, Barclays increased their price objective on shares of Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $105.46.

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.