Crown Holdings, Inc. $CCK Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC lessened its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 58.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,821 shares of the industrial products company’s stock after selling 76,833 shares during the quarter. Great Lakes Advisors LLC’s holdings in Crown were worth $5,199,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. State Street Corp grew its stake in Crown by 1.6% during the 2nd quarter. State Street Corp now owns 4,421,691 shares of the industrial products company’s stock valued at $455,346,000 after acquiring an additional 71,355 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Crown by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 3,300,662 shares of the industrial products company’s stock valued at $339,902,000 after purchasing an additional 165,600 shares in the last quarter. Invesco Ltd. lifted its position in Crown by 58.6% during the second quarter. Invesco Ltd. now owns 2,727,276 shares of the industrial products company’s stock worth $280,855,000 after buying an additional 1,007,980 shares in the last quarter. AQR Capital Management LLC boosted its stake in Crown by 43.3% during the second quarter. AQR Capital Management LLC now owns 2,533,612 shares of the industrial products company’s stock worth $260,835,000 after buying an additional 765,136 shares during the last quarter. Finally, Swedbank AB grew its holdings in Crown by 60.8% in the 3rd quarter. Swedbank AB now owns 2,493,570 shares of the industrial products company’s stock valued at $240,854,000 after buying an additional 943,045 shares in the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Crown

In other news, CEO Timothy J. Donahue sold 29,024 shares of Crown stock in a transaction on Monday, January 5th. The stock was sold at an average price of $105.00, for a total value of $3,047,520.00. Following the completion of the sale, the chief executive officer directly owned 411,556 shares of the company’s stock, valued at approximately $43,213,380. The trade was a 6.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Djalma Novaes, Jr. sold 19,754 shares of the stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $101.02, for a total value of $1,995,549.08. Following the transaction, the chief operating officer directly owned 96,841 shares in the company, valued at approximately $9,782,877.82. The trade was a 16.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 64,754 shares of company stock valued at $6,720,634. Company insiders own 0.90% of the company’s stock.

Key Crown News

Here are the key news stories impacting Crown this week:

• Neutral Sentiment: Cascades agreed to sell a corrugated packaging plant in Richmond, B.C., to Crown Paper Group for CA$65.5M — a regional consolidation in the packaging sector that may slightly alter competitive dynamics but does not directly involve Crown Holdings. Cascades sells Richmond, B.C. packaging plant to Crown Paper Group for $65.5 million
• Negative Sentiment: An insider sale: CEO Timothy J. Donahue sold 7,500 CCK shares at an average price of $105 (≈$787,500), reducing his holding by ~1.53%. Insider selling can be interpreted by some investors as a negative signal on near-term insider conviction, though the sale is small relative to his total holdings. SEC Filing: Insider Sale

Analyst Ratings Changes

Several research analysts have recently commented on the company. Truist Financial lifted their price target on Crown from $126.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Royal Bank Of Canada lifted their target price on shares of Crown from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. UBS Group increased their price target on shares of Crown from $125.00 to $126.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Wall Street Zen raised shares of Crown from a “hold” rating to a “buy” rating in a research report on Sunday, January 18th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Crown in a report on Monday, December 29th. Twelve equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $119.62.

Crown Stock Performance

Shares of CCK stock opened at $104.59 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.76 and a current ratio of 1.16. The firm has a market cap of $12.06 billion, a P/E ratio of 12.94, a P/E/G ratio of 1.20 and a beta of 0.75. The firm’s 50 day moving average price is $101.50 and its 200-day moving average price is $99.13. Crown Holdings, Inc. has a one year low of $75.98 and a one year high of $109.48.

Crown Company Profile

Crown Holdings, Inc is a leading global supplier of rigid packaging products for consumer goods markets. The company designs, manufactures and sells metal packaging for beverage, food, household, personal care and specialty products. Its portfolio includes aluminum and steel beverage cans, steel food cans, aluminum aerosols, metal closures and ends, offering customers end-to-end solutions from design and prototyping to large-scale production.

Founded in 1919 as the Crown Cork & Seal Company, Crown has grown through strategic acquisitions and investments in advanced manufacturing technologies.