Crown Holdings, Inc. (NYSE:CCK) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 8.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 40,603 shares of the industrial products company’s stock after selling 3,829 shares during the period. Public Employees Retirement System of Ohio’s holdings in Crown were worth $3,218,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Crown by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 12,002,342 shares of the industrial products company’s stock valued at $951,306,000 after acquiring an additional 176,639 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Crown by 7.3% during the 4th quarter. Victory Capital Management Inc. now owns 5,136,706 shares of the industrial products company’s stock valued at $473,039,000 after acquiring an additional 350,265 shares during the last quarter. William Blair Investment Management LLC lifted its position in shares of Crown by 2.0% during the 1st quarter. William Blair Investment Management LLC now owns 2,826,399 shares of the industrial products company’s stock valued at $224,020,000 after acquiring an additional 56,604 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Crown by 7.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,536,995 shares of the industrial products company’s stock valued at $233,632,000 after purchasing an additional 186,387 shares during the period. Finally, Impax Asset Management Group plc raised its stake in Crown by 7.1% during the 4th quarter. Impax Asset Management Group plc now owns 2,013,351 shares of the industrial products company’s stock valued at $185,409,000 after purchasing an additional 133,813 shares during the period. Institutional investors and hedge funds own 90.93% of the company’s stock.

Wall Street Analysts Forecast Growth

CCK has been the topic of several recent analyst reports. Barclays boosted their target price on shares of Crown from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Wells Fargo & Company boosted their target price on shares of Crown from $85.00 to $88.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Loop Capital boosted their target price on shares of Crown from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Truist Financial boosted their target price on shares of Crown from $88.00 to $95.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Finally, Citigroup boosted their target price on shares of Crown from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $100.21.

Crown Trading Down 0.7 %

Crown stock opened at $88.11 on Friday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 0.73. The company has a market capitalization of $10.63 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 2.10 and a beta of 0.84. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $94.49. The company’s fifty day moving average price is $79.32 and its two-hundred day moving average price is $80.11.

Crown (NYSE:CCK) last posted its earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.59 by $0.22. Crown had a net margin of 3.68% and a return on equity of 23.96%. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the prior year, the business posted $1.68 earnings per share. The business’s quarterly revenue was down 2.2% on a year-over-year basis. On average, analysts forecast that Crown Holdings, Inc. will post 6.15 earnings per share for the current fiscal year.

Crown Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Thursday, August 15th. Crown’s payout ratio is presently 28.82%.

Insider Activity at Crown

In related news, CEO Timothy J. Donahue sold 15,000 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were 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 owns 593,678 shares of the company’s stock, valued at $50,480,440.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $85.00, for a total value of $637,500.00. Following the completion of the transaction, the chief executive officer now owns 608,678 shares of the company’s stock, valued at $51,737,630. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy J. Donahue sold 15,000 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the completion of the transaction, the chief executive officer now directly owns 593,678 shares of the company’s stock, valued at approximately $50,480,440.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,500 shares of company stock worth $2,659,320. Company insiders own 0.90% of the company’s stock.

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.