Thrivent Financial for Lutherans Sells 825 Shares of Crown Holdings, Inc. (NYSE:CCK)

Thrivent Financial for Lutherans trimmed its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 2.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,003 shares of the industrial products company’s stock after selling 825 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Crown were worth $2,685,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CCK. Price T Rowe Associates Inc. MD raised its holdings in Crown by 22.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 198,984 shares of the industrial products company’s stock worth $15,772,000 after buying an additional 36,895 shares during the last quarter. SVB Wealth LLC bought a new position in Crown in the 1st quarter valued at about $311,000. Kennedy Capital Management LLC boosted its stake in Crown by 5.7% during the 1st quarter. Kennedy Capital Management LLC now owns 19,540 shares of the industrial products company’s stock valued at $1,549,000 after purchasing an additional 1,050 shares during the last quarter. Dynasty Wealth Management LLC bought a new stake in Crown during the 1st quarter worth approximately $283,000. Finally, California State Teachers Retirement System raised its stake in shares of Crown by 1.6% in the first quarter. California State Teachers Retirement System now owns 185,940 shares of the industrial products company’s stock worth $14,738,000 after purchasing an additional 2,875 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CCK. Mizuho set a $110.00 price target on Crown in a report on Friday, October 18th. Wells Fargo & Company increased their target price on shares of Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Morgan Stanley boosted their price target on shares of Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Royal Bank of Canada increased their price objective on shares of Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Barclays boosted their target price on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.62.

Crown Stock Down 0.4 %

CCK stock opened at $92.25 on Wednesday. The stock has a fifty day moving average of $93.60 and a 200-day moving average of $86.90. Crown Holdings, Inc. has a fifty-two week low of $69.61 and a fifty-two week high of $98.46. The company has a market capitalization of $11.04 billion, a price-to-earnings ratio of 113.89, a PEG ratio of 2.06 and a beta of 0.85. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21.

Crown (NYSE:CCK) last issued its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.18. Crown had a net margin of 0.83% and a return on equity of 24.57%. The firm had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.07 billion. As a group, equities research analysts predict that Crown Holdings, Inc. will post 6.34 earnings per share for the current year.

Crown Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Thursday, November 14th. Crown’s payout ratio is currently 123.46%.

Insider Activity

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $90.58, for a total value of $679,350.00. Following the completion of the transaction, the chief executive officer now directly owns 578,678 shares of the company’s stock, valued at $52,416,653.24. This trade represents a 1.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James H. Miller sold 1,006 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the transaction, the director now directly owns 12,424 shares in the company, valued at approximately $1,187,734.40. The trade was a 7.49 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,506 shares of company stock worth $3,157,399. 0.90% of the stock is owned by corporate insiders.

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.