Crown Holdings, Inc. (NYSE:CCK) CEO Sells $697,500.00 in Stock

by · The Cerbat Gem

Crown Holdings, Inc. (NYSE:CCK – Get Free Report) CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $93.00, for a total value of $697,500.00. Following the sale, the chief executive officer now owns 571,178 shares of the company’s stock, valued at $53,119,554. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Crown Price Performance

CCK opened at $92.60 on Thursday. The stock’s 50-day moving average price is $90.60 and its 200 day moving average price is $83.65. Crown Holdings, Inc. has a 12-month low of $69.61 and a 12-month high of $96.74. The company has a current ratio of 1.05, a quick ratio of 0.73 and a debt-to-equity ratio of 2.00. The firm has a market cap of $11.18 billion, a price-to-earnings ratio of 26.69, a PEG ratio of 2.26 and a beta of 0.86.

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

Crown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.08%. The ex-dividend date was Thursday, August 15th. Crown’s payout ratio is 28.82%.

Hedge Funds Weigh In On Crown

Hedge funds have recently bought and sold shares of the company. Mutual of America Capital Management LLC increased its holdings in Crown by 10.3% during the 1st quarter. Mutual of America Capital Management LLC now owns 153,739 shares of the industrial products company’s stock worth $12,185,000 after purchasing an additional 14,362 shares during the period. Vanguard Group Inc. increased its holdings in Crown by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 11,825,703 shares of the industrial products company’s stock worth $1,089,029,000 after purchasing an additional 173,460 shares during the period. Grand Jean Capital Management Inc. increased its holdings in Crown by 28.8% during the 4th quarter. Grand Jean Capital Management Inc. now owns 140,384 shares of the industrial products company’s stock worth $12,928,000 after purchasing an additional 31,401 shares during the period. Empowered Funds LLC purchased a new stake in Crown during the 1st quarter worth about $6,854,000. Finally, Russell Investments Group Ltd. increased its holdings in Crown by 21.0% during the 1st quarter. Russell Investments Group Ltd. now owns 341,216 shares of the industrial products company’s stock worth $27,045,000 after purchasing an additional 59,267 shares during the period. Institutional investors and hedge funds own 90.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CCK shares. Truist Financial boosted their price target on Crown from $88.00 to $95.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Loop Capital boosted their price objective on Crown from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Bank of America boosted their price objective on Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Barclays boosted their price objective on Crown from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, StockNews.com lowered Crown from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Crown currently has a consensus rating of “Moderate Buy” and an average price target of $101.86.

Check Out Our Latest Stock Analysis on Crown

About Crown

(Get Free Report)

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.

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