Crown Holdings, Inc. (NYSE:CCK) CEO Timothy J. Donahue Sells 22,500 Shares

Crown Holdings, Inc. (NYSE:CCK) CEO Timothy J. Donahue sold 22,500 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 616,178 shares of the company’s stock, valued at $52,486,042.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Crown Trading Up 1.2 %

NYSE:CCK opened at $82.07 on Wednesday. The company has a market cap of $9.91 billion, a P/E ratio of 21.83, a P/E/G ratio of 2.73 and a beta of 0.91. The stock’s fifty day moving average price is $77.78 and its two-hundred day moving average price is $82.62. Crown Holdings, Inc. has a 1 year low of $69.61 and a 1 year high of $96.35. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.15 and a quick ratio of 0.77.

Crown (NYSE:CCK) last posted its earnings results on Monday, April 29th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.06. The firm had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.93 billion. Crown had a return on equity of 25.75% and a net margin of 3.75%. The business’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.20 earnings per share. As a group, analysts expect that Crown Holdings, Inc. will post 5.9 EPS for the current year.

Crown Increases Dividend

The firm 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 represents a $1.00 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from Crown’s previous quarterly dividend of $0.24. Crown’s dividend payout ratio (DPR) is 26.60%.

Institutional Investors Weigh In On Crown

Institutional investors and hedge funds have recently made changes to their positions in the business. Hudson Bay Capital Management LP raised its position in shares of Crown by 55.6% in the third quarter. Hudson Bay Capital Management LP now owns 70,000 shares of the industrial products company’s stock worth $6,194,000 after buying an additional 25,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Crown by 245.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,808 shares of the industrial products company’s stock worth $5,784,000 after buying an additional 44,630 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Crown in the fourth quarter worth $3,122,000. Wellington Management Group LLP raised its position in shares of Crown by 4.1% in the third quarter. Wellington Management Group LLP now owns 504,720 shares of the industrial products company’s stock worth $44,658,000 after buying an additional 19,666 shares in the last quarter. Finally, SeaTown Holdings Pte. Ltd. raised its position in shares of Crown by 19.6% in the third quarter. SeaTown Holdings Pte. Ltd. now owns 86,100 shares of the industrial products company’s stock worth $7,618,000 after buying an additional 14,100 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CCK shares. UBS Group started coverage on Crown in a report on Tuesday, January 16th. They issued a “buy” rating and a $112.00 target price for the company. Wolfe Research started coverage on Crown in a report on Friday, March 1st. They set an “outperform” rating and a $102.00 price objective for the company. Robert W. Baird raised Crown from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $85.00 to $90.00 in a report on Tuesday, April 16th. Wells Fargo & Company reduced their price objective on Crown from $78.00 to $76.00 and set an “equal weight” rating for the company in a report on Thursday, April 11th. Finally, Mizuho reduced their price objective on Crown from $105.00 to $96.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Crown has a consensus rating of “Moderate Buy” and a consensus price target of $99.21.

Crown Company Profile

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.