2,100 Shares in Crown Holdings, Inc. (NYSE:CCK) Acquired by AdvisorShares Investments LLC

AdvisorShares Investments LLC purchased a new position in Crown Holdings, Inc. (NYSE:CCKGet Rating) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 2,100 shares of the industrial products company’s stock, valued at approximately $263,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Riverview Trust Co purchased a new stake in Crown in the 1st quarter worth approximately $27,000. Covestor Ltd purchased a new position in shares of Crown during the 4th quarter valued at approximately $33,000. McIlrath & Eck LLC lifted its position in shares of Crown by 11.8% during the 4th quarter. McIlrath & Eck LLC now owns 946 shares of the industrial products company’s stock valued at $105,000 after buying an additional 100 shares in the last quarter. Fairfield Bush & CO. purchased a new position in shares of Crown during the 1st quarter valued at approximately $143,000. Finally, Marcum Wealth LLC purchased a new position in shares of Crown during the 1st quarter valued at approximately $216,000. Institutional investors and hedge funds own 91.52% of the company’s stock.

Crown Stock Down 2.3 %

Shares of CCK opened at $90.30 on Friday. Crown Holdings, Inc. has a 52-week low of $85.85 and a 52-week high of $130.42. The company has a market capitalization of $10.94 billion, a PE ratio of -30.20, a price-to-earnings-growth ratio of 2.38 and a beta of 1.13. The stock has a fifty day simple moving average of $95.78 and a two-hundred day simple moving average of $109.30. The company has a quick ratio of 0.59, a current ratio of 0.95 and a debt-to-equity ratio of 2.50.

Crown (NYSE:CCKGet Rating) last issued its earnings results on Wednesday, July 20th. The industrial products company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.07. Crown had a positive return on equity of 40.47% and a negative net margin of 3.07%. The business had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same period last year, the company earned $2.14 EPS. The company’s revenue for the quarter was up 22.9% on a year-over-year basis. As a group, equities analysts forecast that Crown Holdings, Inc. will post 7.76 EPS for the current year.

Crown Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Wednesday, August 10th. Crown’s dividend payout ratio (DPR) is presently -29.43%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CCK shares. Mizuho decreased their target price on Crown from $131.00 to $126.00 in a research report on Wednesday, April 27th. Truist Financial decreased their target price on Crown from $147.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, July 22nd. Morgan Stanley decreased their price objective on Crown from $135.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, July 26th. Deutsche Bank Aktiengesellschaft decreased their price objective on Crown from $137.00 to $135.00 in a report on Tuesday, July 19th. Finally, Citigroup decreased their price objective on Crown from $130.00 to $126.00 in a report on Friday, July 22nd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $132.64.

Insider Buying and Selling

In related news, insider Djalma Novaes, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $105.38, for a total transaction of $526,900.00. Following the completion of the sale, the insider now directly owns 80,328 shares of the company’s stock, valued at approximately $8,464,964.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company’s stock.

About Crown

(Get Rating)

Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food and beverage industries. The company also provides products for industrial products, such as steel and plastic strap consumables and equipment, paper-based protective packaging, and plastic film consumables and equipment to metals, food and beverage, construction, agricultural, corrugated, and general industries.

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Institutional Ownership by Quarter for Crown (NYSE:CCK)

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