Crown Holdings, Inc. (NYSE:CCK) Shares Sold by Private Management Group Inc.

Private Management Group Inc. lowered its position in Crown Holdings, Inc. (NYSE:CCK) by 0.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 301,244 shares of the industrial products company’s stock after selling 492 shares during the quarter. Private Management Group Inc.’s holdings in Crown were worth $28,883,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sessa Capital IM L.P. boosted its holdings in Crown by 153.0% in the 2nd quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock valued at $244,697,000 after purchasing an additional 1,989,374 shares during the last quarter. 1832 Asset Management L.P. acquired a new stake in shares of Crown during the 1st quarter worth about $119,167,000. Metropolis Capital Ltd raised its stake in shares of Crown by 269.7% in the 3rd quarter. Metropolis Capital Ltd now owns 1,455,752 shares of the industrial products company’s stock valued at $139,578,000 after acquiring an additional 1,062,001 shares during the period. AQR Capital Management LLC lifted its stake in Crown by 121.7% during the second quarter. AQR Capital Management LLC now owns 736,478 shares of the industrial products company’s stock worth $54,787,000 after purchasing an additional 404,250 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Crown during the 1st quarter worth about $29,981,000. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Loop Capital lifted their price objective on shares of Crown from $120.00 to $129.00 and gave the company a “buy” rating in a report on Monday, October 21st. Barclays upped their price target on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Mizuho set a $110.00 target price on shares of Crown in a research note on Friday, October 18th. Truist Financial raised their price objective on shares of Crown from $95.00 to $103.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Finally, Morgan Stanley lifted their price target on Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Crown currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.62.

Insiders Place Their Bets

In related news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total value of $643,875.00. Following the sale, the chief executive officer now directly owns 586,178 shares of the company’s stock, valued at approximately $50,323,381.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total transaction of $643,875.00. Following the transaction, the chief executive officer now directly owns 586,178 shares of the company’s stock, valued at $50,323,381.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total transaction of $958,900.00. Following the completion of the sale, the chief operating officer now directly owns 114,402 shares of the company’s stock, valued at $10,970,007.78. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,506 shares of company stock valued at $3,075,799 in the last quarter. 0.90% of the stock is currently owned by company insiders.

Crown Price Performance

CCK traded up $0.21 during midday trading on Friday, reaching $93.76. 793,525 shares of the company’s stock were exchanged, compared to its average volume of 1,124,589. The business’s 50-day moving average price is $93.06 and its 200 day moving average price is $85.54. The stock has a market capitalization of $11.31 billion, a PE ratio of 115.75, a P/E/G ratio of 2.13 and a beta of 0.86. Crown Holdings, Inc. has a 1-year low of $69.61 and a 1-year high of $98.46. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84.

Crown Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.07%. Crown’s dividend payout ratio (DPR) is presently 123.46%.

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.