Insider Selling: Crown (NYSE:CCK) CEO Sells $787,500.00 in Stock

Crown Holdings, Inc. (NYSE:CCK) CEO Timothy Donahue sold 7,500 shares of the stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $105.00, for a total transaction of $787,500.00. Following the completion of the sale, the chief executive officer directly owned 482,236 shares of the company’s stock, valued at $50,634,780. This trade represents a 1.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Crown Trading Up 0.3%

NYSE CCK opened at $104.59 on Monday. The company’s fifty day simple moving average is $101.50 and its 200-day simple moving average is $99.03. The stock has a market cap of $12.06 billion, a P/E ratio of 12.94, a PEG ratio of 1.21 and a beta of 0.73. Crown Holdings, Inc. has a 52 week low of $75.98 and a 52 week high of $109.48. The company has a current ratio of 1.16, a quick ratio of 0.76 and a debt-to-equity ratio of 1.65.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CCK shares. Truist Financial raised their price objective on Crown from $126.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Mizuho increased their target price on Crown from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Wells Fargo & Company lifted their price target on shares of Crown from $99.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 6th. Wall Street Zen upgraded shares of Crown from a “hold” rating to a “buy” rating in a research note on Sunday, January 18th. Finally, UBS Group boosted their target price on shares of Crown from $125.00 to $126.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Twelve analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Crown presently has an average rating of “Moderate Buy” and an average target price of $119.62.

Key Headlines Impacting Crown

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank acquired a new position in shares of Crown during the second quarter valued at $184,046,000. JPMorgan Chase & Co. lifted its position in Crown by 226.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,474,038 shares of the industrial products company’s stock valued at $142,377,000 after purchasing an additional 1,022,789 shares during the last quarter. Invesco Ltd. grew its position in Crown by 58.6% in the 2nd quarter. Invesco Ltd. now owns 2,727,276 shares of the industrial products company’s stock worth $280,855,000 after purchasing an additional 1,007,980 shares during the last quarter. Swedbank AB grew its position in Crown by 60.8% in the 3rd quarter. Swedbank AB now owns 2,493,570 shares of the industrial products company’s stock worth $240,854,000 after purchasing an additional 943,045 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Crown by 36.9% in the third quarter. AQR Capital Management LLC now owns 3,467,550 shares of the industrial products company’s stock valued at $333,197,000 after purchasing an additional 933,938 shares during the period. 90.93% of the stock is owned by institutional investors and hedge funds.

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.