Bank of Nova Scotia Sells 811,936 Shares of Crown Holdings, Inc. (NYSE:CCK)

Bank of Nova Scotia cut its position in shares of Crown Holdings, Inc. (NYSE:CCKFree Report) by 99.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,814 shares of the industrial products company’s stock after selling 811,936 shares during the period. Bank of Nova Scotia’s holdings in Crown were worth $535,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CCK. Sound Income Strategies LLC purchased a new position in Crown in the fourth quarter worth about $26,000. Quest Partners LLC purchased a new position in shares of Crown in the 4th quarter worth approximately $34,000. Picton Mahoney Asset Management boosted its holdings in shares of Crown by 14.0% in the 4th quarter. Picton Mahoney Asset Management now owns 1,181 shares of the industrial products company’s stock worth $109,000 after purchasing an additional 145 shares during the period. CWM LLC raised its holdings in Crown by 28.3% during the 4th quarter. CWM LLC now owns 1,627 shares of the industrial products company’s stock valued at $150,000 after buying an additional 359 shares during the period. Finally, RKL Wealth Management LLC bought a new stake in Crown in the fourth quarter worth $200,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Wall Street Analysts Forecast Growth

CCK has been the topic of several recent analyst reports. Robert W. Baird increased their target price on shares of Crown from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Loop Capital boosted their target price on Crown from $101.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. increased their price target on Crown from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Morgan Stanley assumed coverage on Crown in a research report on Monday, March 18th. They issued an “equal weight” rating and a $87.00 price objective on the stock. Finally, Wolfe Research initiated coverage on Crown in a research report on Friday, March 1st. They set an “outperform” rating and a $102.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Crown presently has an average rating of “Moderate Buy” and an average target price of $99.29.

Get Our Latest Research Report on CCK

Crown Trading Down 0.1 %

NYSE CCK opened at $82.21 on Friday. Crown Holdings, Inc. has a 12-month low of $69.61 and a 12-month high of $96.35. The company has a fifty day simple moving average of $81.39 and a two-hundred day simple moving average of $83.07. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 2.26. The stock has a market cap of $9.93 billion, a P/E ratio of 23.69, a P/E/G ratio of 2.17 and a beta of 0.88.

Crown (NYSE:CCKGet Free Report) last issued its quarterly earnings results on Monday, April 29th. The industrial products company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.06. The company had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Crown had a return on equity of 23.95% and a net margin of 3.51%. The firm’s revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.20 EPS. On average, analysts forecast that Crown Holdings, Inc. will post 5.95 earnings per share for the current year.

Crown Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Thursday, June 13th. Crown’s dividend payout ratio is presently 28.82%.

Insider Transactions at Crown

In related news, CEO Timothy J. Donahue sold 22,500 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $85.18, for a total transaction of $1,916,550.00. Following the completion of the transaction, the chief executive officer now directly 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 the SEC website. In other Crown news, Director James H. Miller sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $82.93, for a total value of $746,370.00. Following the sale, the director now owns 12,884 shares in the company, valued at approximately $1,068,470.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Timothy J. Donahue sold 22,500 shares of Crown stock in a transaction that occurred on Tuesday, April 30th. The shares were 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 directly owns 616,178 shares of the company’s stock, valued at $52,486,042.04. The disclosure for this sale can be found here. Insiders have sold 39,000 shares of company stock worth $3,300,420 over the last 90 days. 0.90% of the stock is currently owned by company insiders.

Crown Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crown Holdings, Inc. (NYSE:CCKFree Report).

Institutional Ownership by Quarter for Crown (NYSE:CCK)

Receive News & Ratings for Crown Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crown and related companies with MarketBeat.com's FREE daily email newsletter.