Crown Holdings, Inc. (NYSE:CCK) COO Gerard H. Gifford Sells 10,000 Shares

Crown Holdings, Inc. (NYSE:CCK) COO Gerard H. Gifford sold 10,000 shares of Crown stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the completion of the sale, the chief operating officer now directly owns 114,402 shares of the company’s stock, valued at approximately $10,970,007.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Crown Stock Down 0.7 %

Crown stock opened at $95.24 on Friday. Crown Holdings, Inc. has a fifty-two week low of $69.61 and a fifty-two week high of $98.46. The stock has a market cap of $11.50 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 2.19 and a beta of 0.86. The firm’s 50-day simple moving average is $92.40 and its 200 day simple moving average is $84.87. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.73 and a current ratio of 1.05.

Crown (NYSE:CCK) last released its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.22. Crown had a net margin of 3.68% and a return on equity of 23.96%. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same period in the previous year, the company earned $1.68 earnings per share. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. Research analysts predict that Crown Holdings, Inc. will post 6.15 EPS for the current fiscal year.

Crown Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.05%. Crown’s dividend payout ratio (DPR) is presently 28.82%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday. Truist Financial lifted their price target on shares of Crown from $95.00 to $103.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Morgan Stanley lifted their price target on shares of Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a research note on Monday. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Finally, Barclays lifted their price objective on shares of Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $106.62.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sessa Capital IM L.P. boosted its stake in Crown by 153.0% in the second quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock valued at $244,697,000 after acquiring an additional 1,989,374 shares during the last quarter. 1832 Asset Management L.P. purchased a new position in Crown in the first quarter valued at about $119,167,000. Metropolis Capital Ltd boosted its stake in Crown by 269.7% in the third quarter. Metropolis Capital Ltd now owns 1,455,752 shares of the industrial products company’s stock valued at $139,578,000 after acquiring an additional 1,062,001 shares during the last quarter. AQR Capital Management LLC boosted its stake in Crown by 121.7% in the second quarter. AQR Capital Management LLC now owns 736,478 shares of the industrial products company’s stock valued at $54,787,000 after acquiring an additional 404,250 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Crown in the first quarter valued at about $29,981,000. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

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.