Crown Holdings, Inc. (NYSE:CCK) Position Trimmed by Pacer Advisors Inc.

Pacer Advisors Inc. reduced its holdings in Crown Holdings, Inc. (NYSE:CCK) by 0.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 25,970 shares of the industrial products company’s stock after selling 202 shares during the quarter. Pacer Advisors Inc.’s holdings in Crown were worth $1,932,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Rise Advisors LLC bought a new position in Crown in the first quarter worth about $27,000. Quest Partners LLC acquired a new stake in shares of Crown during the 4th quarter worth approximately $34,000. Mather Group LLC. bought a new stake in shares of Crown in the 1st quarter worth approximately $32,000. Quarry LP boosted its position in Crown by 190.3% during the 4th quarter. Quarry LP now owns 421 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 276 shares during the period. Finally, EntryPoint Capital LLC bought a new position in Crown during the 1st quarter worth $41,000. 90.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total transaction of $643,875.00. Following the transaction, the chief executive officer now directly owns 586,178 shares in the company, valued at approximately $50,323,381.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other 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 owns 586,178 shares of the company’s stock, valued at $50,323,381.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Timothy J. Donahue sold 15,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total value of $1,275,450.00. Following the transaction, the chief executive officer now directly owns 593,678 shares in the company, valued at $50,480,440.34. The disclosure for this sale can be found here. Insiders have sold 31,006 shares of company stock worth $2,694,849 over the last 90 days. 0.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wells Fargo & Company raised their target price on Crown from $85.00 to $88.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Morgan Stanley upped their target price on shares of Crown from $92.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 4th. Barclays lifted their price target on Crown from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Loop Capital increased their price objective on Crown from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Citigroup lifted their target price on Crown from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $101.14.

Crown Price Performance

NYSE CCK opened at $94.74 on Thursday. The stock has a market capitalization of $11.43 billion, a P/E ratio of 27.30, a P/E/G ratio of 2.26 and a beta of 0.85. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.73 and a current ratio of 1.05. The business’s fifty day moving average is $88.52 and its two-hundred day moving average is $82.51. Crown Holdings, Inc. has a 1 year low of $69.61 and a 1 year high of $96.74.

Crown (NYSE:CCK) last announced its earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.59 by $0.22. The business 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% compared to the same quarter last year. During the same period in the prior year, the business posted $1.68 earnings per share. On average, research analysts forecast that Crown Holdings, Inc. will post 6.15 earnings per share for the current fiscal year.

Crown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend was Thursday, August 15th. Crown’s dividend payout ratio (DPR) is currently 28.82%.

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.