D.A. Davidson & CO. Lowers Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

D.A. Davidson & CO. lessened its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 5.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,188 shares of the industrial products company’s stock after selling 3,295 shares during the quarter. D.A. Davidson & CO.’s holdings in Crown were worth $3,957,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. 1832 Asset Management L.P. acquired a new stake in shares of Crown in the 1st quarter worth $119,167,000. Norges Bank purchased a new position in Crown during the fourth quarter worth about $109,826,000. Clearbridge Investments LLC lifted its position in Crown by 474.8% in the fourth quarter. Clearbridge Investments LLC now owns 1,214,618 shares of the industrial products company’s stock valued at $111,854,000 after purchasing an additional 1,003,312 shares during the period. Boston Partners purchased a new stake in Crown in the 4th quarter valued at approximately $84,960,000. Finally, Metropolis Capital Ltd acquired a new position in Crown during the 2nd quarter worth approximately $29,291,000. 90.93% of the stock is owned by institutional investors and hedge funds.

Crown Trading Up 0.0 %

Crown stock opened at $90.42 on Wednesday. The stock has a 50-day moving average price of $82.82 and a 200 day moving average price of $80.71. Crown Holdings, Inc. has a 52 week low of $69.61 and a 52 week high of $93.79. The stock has a market cap of $10.92 billion, a PE ratio of 26.06, a P/E/G ratio of 2.14 and a beta of 0.85. The company has a current ratio of 1.05, a quick ratio of 0.73 and a debt-to-equity ratio of 2.00.

Crown (NYSE:CCK) last issued its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 3.68% and a return on equity of 23.96%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.68 earnings per share. Equities research analysts predict that Crown Holdings, Inc. will post 6.16 earnings per share for the current fiscal year.

Crown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 1.11%. Crown’s payout ratio is currently 28.82%.

Analysts Set New Price Targets

CCK has been the topic of a number of analyst reports. StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a research note on Wednesday, August 21st. UBS Group decreased their target price on shares of Crown from $112.00 to $91.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Bank of America increased their price target on shares of Crown from $98.00 to $102.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada boosted their price objective on shares of Crown from $96.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Morgan Stanley upped their target price on shares of Crown from $89.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.21.

Insider Buying and Selling

In related news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total value of $643,875.00. Following 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total transaction of $643,875.00. Following the transaction, the chief executive officer now owns 586,178 shares in the company, valued at $50,323,381.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 transaction of $1,275,450.00. Following the completion of the transaction, the chief executive officer now owns 593,678 shares of the company’s stock, valued at $50,480,440.34. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

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.