Crown Holdings, Inc. (NYSE:CCK) CEO Sells $637,500.00 in Stock

Crown Holdings, Inc. (NYSE:CCK) CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $85.00, for a total value of $637,500.00. Following the sale, the chief executive officer now owns 608,678 shares of the company’s stock, valued at approximately $51,737,630. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Crown Stock Up 1.3 %

CCK stock traded up $1.08 on Thursday, hitting $85.30. 556,604 shares of the company’s stock were exchanged, compared to its average volume of 1,204,318. The firm has a 50 day moving average price of $79.44 and a two-hundred day moving average price of $82.86. 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 Holdings, Inc. has a 12-month low of $69.61 and a 12-month high of $96.35. The stock has a market cap of $10.30 billion, a P/E ratio of 24.52, a price-to-earnings-growth ratio of 2.83 and a beta of 0.88.

Crown (NYSE:CCK) last released its earnings results on Monday, April 29th. The industrial products company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.06. Crown had a net margin of 3.51% and a return on equity of 23.95%. The company had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the previous year, the firm earned $1.20 EPS. Crown’s revenue was down 6.4% compared to the same quarter last year. As a group, equities research analysts expect that Crown Holdings, Inc. will post 5.95 EPS for the current fiscal year.

Crown Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th will be paid a $0.25 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.17%. Crown’s payout ratio is currently 28.82%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sound Income Strategies LLC purchased a new stake in shares of Crown in the fourth quarter worth about $26,000. Rise Advisors LLC acquired a new position in shares of Crown in the 1st quarter valued at $27,000. Quest Partners LLC purchased a new stake in Crown during the fourth quarter worth $34,000. Mather Group LLC. purchased a new position in Crown in the first quarter valued at $32,000. Finally, Quarry LP raised its holdings in Crown by 190.3% in the 4th quarter. Quarry LP now owns 421 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 276 shares during the period. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Royal Bank of Canada reduced their price target on shares of Crown from $110.00 to $97.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. Truist Financial reiterated a “hold” rating and set a $88.00 price target (down previously from $100.00) on shares of Crown in a research note on Wednesday, March 27th. Morgan Stanley started coverage on Crown in a research note on Monday, March 18th. They issued an “equal weight” rating and a $87.00 price objective for the company. Wells Fargo & Company raised their target price on shares of Crown from $76.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. Finally, Mizuho decreased their price objective on shares of Crown from $105.00 to $96.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $99.29.

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.