Crown Holdings, Inc. (NYSE:CCK) CEO Sells $1,916,550.00 in Stock

Crown Holdings, Inc. (NYSE:CCK) CEO Timothy J. Donahue sold 22,500 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $85.18, for a total value of $1,916,550.00. Following the sale, the chief executive officer now owns 616,178 shares of the company’s stock, valued at $52,486,042.04. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Crown Stock Up 1.2 %

Shares of CCK stock traded up $0.98 during mid-day trading on Tuesday, hitting $82.07. 2,871,726 shares of the stock traded hands, compared to its average volume of 1,238,346. Crown Holdings, Inc. has a 52-week low of $69.61 and a 52-week high of $96.35. The stock has a market cap of $9.91 billion, a P/E ratio of 21.55, a P/E/G ratio of 2.73 and a beta of 0.91. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.15 and a quick ratio of 0.77. The stock’s fifty day moving average is $77.60 and its two-hundred day moving average is $82.60.

Crown (NYSE:CCK) last announced its earnings results on Monday, April 29th. The industrial products company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.06. The company had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.93 billion. Crown had a net margin of 3.75% and a return on equity of 25.75%. Crown’s revenue was down 6.4% compared to the same quarter last year. During the same period last year, the firm earned $1.20 earnings per share. Equities analysts predict that Crown Holdings, Inc. will post 5.9 EPS for the current year.

Crown Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $0.25 dividend. This is a positive change from Crown’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Wednesday, March 13th. Crown’s dividend payout ratio (DPR) is presently 26.60%.

Institutional Investors Weigh In On Crown

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Crown in the fourth quarter worth about $109,826,000. Clearbridge Investments LLC lifted its stake in Crown by 474.8% during the 4th quarter. Clearbridge Investments LLC now owns 1,214,618 shares of the industrial products company’s stock valued at $111,854,000 after acquiring an additional 1,003,312 shares during the period. Boston Partners acquired a new stake in shares of Crown in the fourth quarter worth $84,960,000. Toronto Dominion Bank increased its stake in shares of Crown by 41.9% in the third quarter. Toronto Dominion Bank now owns 2,213,904 shares of the industrial products company’s stock worth $195,886,000 after acquiring an additional 654,082 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in shares of Crown by 46.7% during the third quarter. Hsbc Holdings PLC now owns 1,414,343 shares of the industrial products company’s stock worth $125,449,000 after purchasing an additional 450,087 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. UBS Group began coverage on Crown in a research note on Tuesday, January 16th. They issued a “buy” rating and a $112.00 price objective on the stock. Mizuho decreased their price objective on shares of Crown from $105.00 to $96.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Truist Financial restated a “hold” rating and set a $88.00 price target (down previously from $100.00) on shares of Crown in a research report on Wednesday, March 27th. Robert W. Baird upgraded Crown from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $85.00 to $90.00 in a research note on Tuesday, April 16th. Finally, JPMorgan Chase & Co. raised shares of Crown from a “neutral” rating to an “overweight” rating and set a $85.00 price objective for the company in a report on Wednesday, February 7th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Crown has an average rating of “Moderate Buy” and an average price target of $99.21.

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.