Teachers Retirement System of The State of Kentucky Decreases Holdings in Crown Holdings, Inc. (NYSE:CCK)

Teachers Retirement System of The State of Kentucky trimmed its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 2.7% in the third quarter, Holdings Channel reports. The firm owned 37,965 shares of the industrial products company’s stock after selling 1,040 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Crown were worth $3,640,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CCK. Wealth Enhancement Advisory Services LLC boosted its position in Crown by 15.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,156 shares of the industrial products company’s stock worth $532,000 after purchasing an additional 931 shares during the period. Swedbank AB boosted its position in Crown by 1.7% in the 2nd quarter. Swedbank AB now owns 143,502 shares of the industrial products company’s stock valued at $10,675,000 after buying an additional 2,371 shares during the last quarter. Blue Trust Inc. boosted its position in Crown by 172.6% in the 2nd quarter. Blue Trust Inc. now owns 608 shares of the industrial products company’s stock valued at $48,000 after buying an additional 385 shares during the last quarter. OFI Invest Asset Management boosted its position in Crown by 2.2% in the 2nd quarter. OFI Invest Asset Management now owns 11,267 shares of the industrial products company’s stock valued at $782,000 after buying an additional 240 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Crown by 6.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the industrial products company’s stock valued at $205,000 after buying an additional 158 shares during the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total value of $725,475.00. Following the completion of the transaction, the chief executive officer now owns 563,678 shares in the company, valued at approximately $54,524,572.94. This represents a 1.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James H. Miller sold 1,006 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the transaction, the director now owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. This trade represents a 7.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,006 shares of company stock worth $2,478,049. Insiders own 0.90% of the company’s stock.

Crown Price Performance

CCK opened at $87.88 on Friday. The firm has a market cap of $10.51 billion, a price-to-earnings ratio of 108.49, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83. Crown Holdings, Inc. has a fifty-two week low of $69.61 and a fifty-two week high of $98.46. The company’s 50-day moving average price is $92.45 and its 200 day moving average price is $87.44. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19.

Crown (NYSE:CCK) last released its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.18. The firm had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. As a group, sell-side analysts expect that Crown Holdings, Inc. will post 6.34 earnings per share for the current year.

Crown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.14%. The ex-dividend date was Thursday, November 14th. Crown’s dividend payout ratio (DPR) is 123.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Royal Bank of Canada upped their price objective on shares of Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Citigroup upped their price objective on shares of Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Robert W. Baird upped their price objective on shares of Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Wells Fargo & Company upped their target price on shares of Crown from $97.00 to $105.00 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 shares of Crown in a research note on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $106.62.

Crown 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.