Insider Selling: Crown Holdings, Inc. (NYSE:CCK) CEO Sells 15,000 Shares of Stock

Crown Holdings, Inc. (NYSE:CCK) CEO Timothy J. Donahue sold 15,000 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 593,678 shares in the company, valued at approximately $50,480,440.34. The sale was disclosed in a document filed with the SEC, which is available at this link.

Crown Stock Performance

NYSE CCK opened at $84.90 on Friday. The stock has a 50-day simple moving average of $79.17 and a two-hundred day simple moving average of $80.27. The firm has a market capitalization of $10.25 billion, a P/E ratio of 24.50, a PEG ratio of 2.20 and a beta of 0.85. Crown Holdings, Inc. has a fifty-two week low of $69.61 and a fifty-two week high of $95.92. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.77 and a current ratio of 1.19.

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

Crown Dividend Announcement

The firm also recently declared 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 1.18%. Crown’s dividend payout ratio is presently 28.82%.

Hedge Funds Weigh In On Crown

Several institutional investors and hedge funds have recently modified their holdings of the business. Picton Mahoney Asset Management increased its stake in shares of Crown by 14.0% in the 4th quarter. Picton Mahoney Asset Management now owns 1,181 shares of the industrial products company’s stock valued at $109,000 after purchasing an additional 145 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Crown by 5.3% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,057 shares of the industrial products company’s stock valued at $282,000 after purchasing an additional 154 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings 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 worth $205,000 after buying an additional 158 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Crown by 6.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,464 shares of the industrial products company’s stock worth $227,000 after buying an additional 160 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in Crown by 36.1% in the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock worth $49,000 after buying an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CCK. StockNews.com raised Crown from a “hold” rating to a “buy” rating in a research report on Wednesday. Wells Fargo & Company raised their price objective on Crown from $85.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Wednesday. JPMorgan Chase & Co. raised 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. Citigroup raised their target price on Crown from $94.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Robert W. Baird raised their target price on Crown from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $99.64.

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.