Envestnet Asset Management Inc. Has $16.79 Million Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

Envestnet Asset Management Inc. decreased its stake in Crown Holdings, Inc. (NYSE:CCK) by 33.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 225,713 shares of the industrial products company’s stock after selling 113,398 shares during the period. Envestnet Asset Management Inc.’s holdings in Crown were worth $16,791,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Crown by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 12,002,342 shares of the industrial products company’s stock valued at $951,306,000 after purchasing an additional 176,639 shares in the last quarter. William Blair Investment Management LLC boosted its position in shares of Crown by 2.0% during the 1st quarter. William Blair Investment Management LLC now owns 2,826,399 shares of the industrial products company’s stock valued at $224,020,000 after purchasing an additional 56,604 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Crown by 28.9% during the 1st quarter. Clearbridge Investments LLC now owns 1,566,163 shares of the industrial products company’s stock valued at $124,134,000 after purchasing an additional 351,545 shares in the last quarter. 1832 Asset Management L.P. bought a new stake in shares of Crown during the 1st quarter valued at about $119,167,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Crown by 4.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,208,711 shares of the industrial products company’s stock valued at $89,916,000 after purchasing an additional 46,871 shares in the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Stock Performance

Shares of CCK opened at $95.52 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 0.73 and a debt-to-equity ratio of 2.00. The company has a market capitalization of $11.53 billion, a price-to-earnings ratio of 27.53, a PEG ratio of 2.13 and a beta of 0.85. The stock has a 50 day moving average of $87.82 and a 200 day moving average of $82.30. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $95.72.

Crown (NYSE:CCK) last issued its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.22. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.06 billion. Crown had a return on equity of 23.96% and a net margin of 3.68%. Crown’s revenue was down 2.2% on a year-over-year basis. During the same period last year, the business posted $1.68 earnings per share. As a group, sell-side analysts forecast that Crown Holdings, Inc. will post 6.15 earnings per share for the current year.

Crown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Thursday, August 15th. Crown’s payout ratio is 28.82%.

Insider Activity at Crown

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total value of $643,875.00. Following the completion of the sale, the chief executive officer now directly owns 586,178 shares of the company’s stock, valued at $50,323,381.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total value of $643,875.00. Following the completion of the sale, the chief executive officer now directly owns 586,178 shares of the company’s stock, valued at $50,323,381.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy J. Donahue sold 15,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total value of $1,275,450.00. Following the completion of the sale, the chief executive officer now directly owns 593,678 shares of the company’s stock, valued at $50,480,440.34. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,000 shares of company stock valued at $2,598,675. 0.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on CCK. Loop Capital upped their target price on Crown from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Wells Fargo & Company increased their price target on Crown from $85.00 to $88.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Citigroup increased their price target on Crown from $94.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Barclays increased their price target on Crown from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, StockNews.com lowered Crown from a “buy” rating to a “hold” rating in a report on Monday, September 9th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.14.

Crown 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.