Insider Selling: Crown Holdings, Inc. (NYSE:CCK) CEO Sells $1,916,550.00 in Stock

Crown Holdings, Inc. (NYSE:CCK) 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 transaction, the chief executive officer now owns 616,178 shares in the company, valued at $52,486,042.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Crown Stock Performance

Shares of CCK stock opened at $82.37 on Friday. The firm’s 50 day moving average price is $78.05 and its 200-day moving average price is $82.62. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.77 and a current ratio of 1.19. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $96.35. The firm has a market cap of $9.95 billion, a P/E ratio of 23.74, a P/E/G ratio of 2.78 and a beta of 0.88.

Crown (NYSE:CCK) last released its earnings results on Monday, April 29th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.06. The company had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.93 billion. Crown had a net margin of 3.51% and a return on equity of 23.95%. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.20 EPS. As a group, equities research analysts predict that Crown Holdings, Inc. will post 5.9 EPS for the current year.

Crown Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. Crown’s dividend payout ratio (DPR) is presently 28.82%.

Institutional Investors Weigh In On Crown

Hedge funds have recently added to or reduced their stakes in the business. BluePath Capital Management LLC acquired a new stake in Crown during the 3rd quarter worth approximately $25,000. Sound Income Strategies LLC acquired a new stake in Crown during the 4th quarter worth approximately $26,000. Rise Advisors LLC acquired a new stake in shares of Crown in the 1st quarter valued at $27,000. Mather Group LLC. acquired a new stake in shares of Crown in the 1st quarter valued at $32,000. Finally, Quest Partners LLC acquired a new stake in shares of Crown in the 4th quarter valued at $34,000. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of Crown from $76.00 to $84.00 and gave the company an “equal weight” rating in a research note on Wednesday. Truist Financial reissued a “hold” rating and issued a $88.00 price target (down previously from $100.00) on shares of Crown in a research note on Wednesday, March 27th. Morgan Stanley assumed coverage on shares of Crown in a research note on Monday, March 18th. They issued an “equal weight” rating and a $87.00 price target for the company. Robert W. Baird increased their price target on shares of Crown from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Wolfe Research assumed coverage on shares of Crown in a research note on Friday, March 1st. They issued an “outperform” rating and a $102.00 price target for the company. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $99.29.

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.