Evercore Wealth Management LLC Trims Holdings in Crown Holdings, Inc. (NYSE:CCK)

Evercore Wealth Management LLC trimmed its holdings in shares of Crown Holdings, Inc. (NYSE:CCKFree Report) by 11.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,000 shares of the industrial products company’s stock after selling 500 shares during the quarter. Evercore Wealth Management LLC’s holdings in Crown were worth $368,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Sound Income Strategies LLC bought a new stake in Crown during the fourth quarter worth about $26,000. Quest Partners LLC bought a new stake in Crown during the fourth quarter worth about $34,000. Picton Mahoney Asset Management lifted its stake in Crown by 14.0% during the fourth 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 last quarter. CWM LLC lifted its stake in Crown by 28.3% during the fourth quarter. CWM LLC now owns 1,627 shares of the industrial products company’s stock worth $150,000 after purchasing an additional 359 shares during the last quarter. Finally, RKL Wealth Management LLC bought a new stake in Crown during the fourth quarter worth about $200,000. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Crown Price Performance

NYSE CCK opened at $82.21 on Monday. Crown Holdings, Inc. has a 1-year low of $69.61 and a 1-year high of $96.35. The business’s fifty day moving average price is $81.39 and its 200-day moving average price is $83.08. The stock has a market capitalization of $9.93 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 2.17 and a beta of 0.88. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.19 and a quick ratio of 0.77.

Crown (NYSE:CCKGet Free Report) last announced its 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. Crown had a return on equity of 23.95% and a net margin of 3.51%. The company had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same period last year, the firm earned $1.20 EPS. Crown’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, equities analysts predict 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 paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.22%. Crown’s payout ratio is presently 28.82%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CCK shares. Morgan Stanley started coverage on Crown in a research note on Monday, March 18th. They issued an “equal weight” rating and a $87.00 target price for the company. Wolfe Research initiated coverage on Crown in a research note on Friday, March 1st. They issued an “outperform” rating and a $102.00 target price for the company. Loop Capital upped their price target on Crown from $101.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Wells Fargo & Company upped their price target on Crown from $76.00 to $84.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. Finally, Truist Financial reaffirmed a “hold” rating and set a $88.00 price target (down previously from $100.00) on shares of Crown in a research report on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Crown currently has a consensus rating of “Moderate Buy” and an average price target of $99.29.

Check Out Our Latest Research Report on CCK

Insiders Place Their Bets

In other news, Director James H. Miller sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $82.93, for a total transaction of $746,370.00. Following the completion of the transaction, the director now owns 12,884 shares in the company, valued at $1,068,470.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director James H. Miller sold 9,000 shares of Crown stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $82.93, for a total value of $746,370.00. Following the completion of the transaction, the director now owns 12,884 shares in the company, valued at $1,068,470.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $85.00, for a total value of $637,500.00. Following the completion of the transaction, the chief executive officer now owns 608,678 shares of the company’s stock, valued at approximately $51,737,630. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,000 shares of company stock worth $3,300,420. Corporate insiders own 0.90% of the company’s stock.

About Crown

(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.

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Institutional Ownership by Quarter for Crown (NYSE:CCK)

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