Crown Holdings, Inc. (NYSE:CCK) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers lowered its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 27.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,801 shares of the industrial products company’s stock after selling 2,921 shares during the quarter. Cetera Investment Advisers’ holdings in Crown were worth $645,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CCK. Pacer Advisors Inc. increased its holdings in Crown by 10,138.8% in the fourth quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company’s stock worth $256,762,000 after buying an additional 3,074,791 shares during the last quarter. Norges Bank bought a new stake in Crown during the fourth quarter worth approximately $113,568,000. Thompson Siegel & Walmsley LLC bought a new position in Crown in the 4th quarter worth $66,732,000. Vulcan Value Partners LLC grew its holdings in Crown by 450.5% in the 4th quarter. Vulcan Value Partners LLC now owns 823,691 shares of the industrial products company’s stock valued at $68,027,000 after buying an additional 674,072 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Crown by 146.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,008,500 shares of the industrial products company’s stock valued at $83,393,000 after purchasing an additional 599,000 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on CCK shares. Mizuho boosted their price objective on Crown from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, April 29th. UBS Group lifted their price target on Crown from $109.00 to $114.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Barclays upped their price target on Crown from $109.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Royal Bank of Canada lifted their price objective on Crown from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Finally, Truist Financial dropped their price objective on Crown from $107.00 to $97.00 and set a “hold” rating on the stock in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $110.45.

Insider Buying and Selling at Crown

In related news, COO Gerard H. Gifford sold 7,000 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $97.00, for a total value of $679,000.00. Following the sale, the chief operating officer now directly owns 135,014 shares of the company’s stock, valued at $13,096,358. This trade represents a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Christy L. Kalaus sold 2,130 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $99.41, for a total value of $211,743.30. Following the completion of the transaction, the vice president now owns 4,500 shares of the company’s stock, valued at $447,345. The trade was a 32.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Crown Price Performance

Shares of CCK opened at $97.08 on Monday. Crown Holdings, Inc. has a 1-year low of $70.84 and a 1-year high of $100.24. The company has a market cap of $11.30 billion, a price-to-earnings ratio of 27.27, a PEG ratio of 1.56 and a beta of 0.76. The company’s fifty day simple moving average is $90.70 and its 200 day simple moving average is $88.61. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88.

Crown (NYSE:CCK) last posted its earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.45. Crown had a net margin of 3.59% and a return on equity of 25.12%. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter last year, the company posted $1.02 EPS. Crown’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, research analysts forecast that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.26 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.07%. Crown’s payout ratio is presently 22.37%.

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.