Insider Selling: Crown Holdings, Inc. (NYSE:CCK) CEO Sells $1,275,450.00 in Stock

Crown Holdings, Inc. (NYSE:CCK) CEO Timothy J. Donahue sold 15,000 shares of Crown stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total value of $1,275,450.00. Following the completion of the transaction, the chief executive officer now directly owns 593,678 shares in the company, valued at $50,480,440.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Crown Trading Down 0.2 %

NYSE CCK opened at $84.90 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 2.26. Crown Holdings, Inc. has a twelve month low of $69.61 and a twelve month high of $95.92. The firm has a market capitalization of $10.25 billion, a PE ratio of 24.50, a P/E/G ratio of 2.20 and a beta of 0.85. The stock’s 50 day moving average is $79.17 and its 200 day moving average is $80.27.

Crown (NYSE:CCK) last released its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.22. Crown had a return on equity of 24.18% and a net margin of 3.68%. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same period in the previous year, the company posted $1.68 earnings per share. The firm’s revenue was down 2.2% on a year-over-year basis. Research analysts forecast that Crown Holdings, Inc. will post 6.02 earnings per share for the current fiscal year.

Crown Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.18%. Crown’s dividend payout ratio (DPR) is 28.82%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CCK. Loop Capital lifted their price target on Crown from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday. Truist Financial lifted their price target on Crown from $88.00 to $95.00 and gave the stock a “hold” rating in a research note on Wednesday. Bank of America lifted their price target on Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price objective on Crown from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Finally, UBS Group cut their price objective on Crown from $112.00 to $91.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Crown presently has a consensus rating of “Moderate Buy” and an average price target of $99.64.

Institutional Investors Weigh In On Crown

Several hedge funds have recently added to or reduced their stakes in the stock. Raymond James Trust N.A. purchased a new position in shares of Crown in the fourth quarter worth $283,000. Raymond James & Associates raised its stake in shares of Crown by 19.0% in the fourth quarter. Raymond James & Associates now owns 273,283 shares of the industrial products company’s stock worth $25,167,000 after purchasing an additional 43,727 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Crown by 87.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 13,049 shares of the industrial products company’s stock worth $1,202,000 after purchasing an additional 6,083 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Crown by 68.7% in the fourth quarter. Pacer Advisors Inc. now owns 23,515 shares of the industrial products company’s stock worth $2,165,000 after purchasing an additional 9,576 shares during the last quarter. Finally, Tectonic Advisors LLC raised its stake in shares of Crown by 3.4% in the fourth quarter. Tectonic Advisors LLC now owns 30,525 shares of the industrial products company’s stock worth $2,811,000 after purchasing an additional 994 shares during the last quarter. 90.93% of the stock is owned by institutional investors.

Crown Company 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.