Capital Advisors Ltd. LLC Reduces Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

Capital Advisors Ltd. LLC reduced its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 29.6% during the first quarter, Holdings Channel reports. The firm owned 985 shares of the industrial products company’s stock after selling 414 shares during the quarter. Capital Advisors Ltd. LLC’s holdings in Crown were worth $78,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. bought a new position in Crown in the third quarter worth about $204,000. Treasurer of the State of North Carolina lifted its stake in shares of Crown by 0.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 48,116 shares of the industrial products company’s stock valued at $4,257,000 after purchasing an additional 180 shares during the period. Truist Financial Corp boosted its position in shares of Crown by 24.3% during the third quarter. Truist Financial Corp now owns 717,885 shares of the industrial products company’s stock valued at $63,518,000 after purchasing an additional 140,172 shares in the last quarter. Shelton Capital Management grew its stake in Crown by 50.0% in the third quarter. Shelton Capital Management now owns 4,313 shares of the industrial products company’s stock worth $382,000 after purchasing an additional 1,438 shares during the period. Finally, Adage Capital Partners GP L.L.C. increased its stake in shares of Crown by 329.0% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 347,688 shares of the industrial products company’s stock worth $30,763,000 after acquiring an additional 266,633 shares in the last quarter. 90.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CCK has been the topic of several recent research reports. 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 target on the stock. Wells Fargo & Company raised their price target on Crown from $76.00 to $84.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. Loop Capital upped their price target on shares of Crown from $101.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Truist Financial restated a “hold” rating and set a $88.00 price objective (down from $100.00) on shares of Crown in a research note on Wednesday, March 27th. Finally, Robert W. Baird upped their target price on shares of Crown from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Crown has a consensus rating of “Moderate Buy” and a consensus target price of $99.29.

Crown Price Performance

NYSE CCK opened at $73.21 on Wednesday. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 1.97 and a beta of 0.85. 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 2.26, a current ratio of 1.19 and a quick ratio of 0.77. The business’s fifty day moving average price is $81.25 and its 200-day moving average price is $81.96.

Crown (NYSE:CCK) last posted its earnings results on Monday, April 29th. The industrial products company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.06. The company 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 23.95% and a net margin of 3.51%. Crown’s revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 earnings per share. On average, equities analysts predict that Crown Holdings, Inc. will post 5.93 earnings per share for the current year.

Crown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date was Thursday, June 13th. Crown’s payout ratio is 28.82%.

Insider Transactions at Crown

In other Crown news, CEO Timothy J. Donahue sold 22,500 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $85.18, for a total transaction of $1,916,550.00. Following the completion of 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 Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Timothy J. Donahue sold 22,500 shares of Crown stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $85.18, for a total transaction of $1,916,550.00. Following the transaction, the chief executive officer now directly owns 616,178 shares of the company’s stock, valued at approximately $52,486,042.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 608,678 shares of the company’s stock, valued at $51,737,630. The disclosure for this sale can be found here. Insiders sold 39,000 shares of company stock worth $3,300,420 in the last three months. Corporate insiders own 0.90% of the company’s stock.

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.