Cascadia Advisory Services LLC Acquires 7,715 Shares of Crown Holdings, Inc. (NYSE:CCK)

Cascadia Advisory Services LLC increased its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 39.0% during the second quarter, HoldingsChannel reports. The firm owned 27,522 shares of the industrial products company’s stock after buying an additional 7,715 shares during the period. Cascadia Advisory Services LLC’s holdings in Crown were worth $2,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Allred Capital Management LLC bought a new position in shares of Crown during the first quarter valued at $36,000. Key Financial Inc lifted its holdings in Crown by 2,292.0% in the second quarter. Key Financial Inc now owns 598 shares of the industrial products company’s stock valued at $60,000 after acquiring an additional 573 shares during the period. Focused Wealth Management Inc bought a new position in Crown in the second quarter valued at about $70,000. O Shaughnessy Asset Management LLC lifted its holdings in Crown by 30.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 692 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 160 shares during the period. Finally, Barrett Asset Management LLC bought a new position in Crown in the first quarter valued at about $77,000. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Hock Huat Goh sold 3,735 shares of the firm’s stock in a transaction that occurred on Tuesday, August 31st. The stock was sold at an average price of $110.21, for a total value of $411,634.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director B Craig Owens purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 10th. The shares were acquired at an average cost of $105.62 per share, with a total value of $211,240.00. Following the completion of the purchase, the director now directly owns 3,036 shares in the company, valued at approximately $320,662.32. The disclosure for this purchase can be found here. 1.90% of the stock is owned by company insiders.

A number of analysts have commented on CCK shares. Truist Securities started coverage on Crown in a research report on Tuesday, September 14th. They issued a “buy” rating and a $138.00 price target for the company. Barclays started coverage on Crown in a research report on Monday. They issued an “overweight” rating and a $140.00 price target for the company. BMO Capital Markets cut Crown from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $125.00 to $110.00 in a research report on Wednesday, May 26th. Jefferies Financial Group started coverage on Crown in a research report on Wednesday, September 15th. They issued a “buy” rating and a $137.00 price target for the company. Finally, Truist started coverage on Crown in a research report on Monday, September 13th. They issued a “positive” rating and a $138.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $121.94.

NYSE CCK traded up $0.13 during trading on Tuesday, hitting $105.60. 2,033 shares of the stock traded hands, compared to its average volume of 1,013,157. The company has a market capitalization of $14.25 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 2.83 and a beta of 1.18. The firm has a 50-day simple moving average of $105.46 and a 200-day simple moving average of $104.20. The company has a quick ratio of 1.24, a current ratio of 1.57 and a debt-to-equity ratio of 2.89. Crown Holdings, Inc. has a 12-month low of $71.92 and a 12-month high of $114.55.

Crown (NYSE:CCK) last released its quarterly earnings results on Sunday, July 18th. The industrial products company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.36. The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Crown had a return on equity of 38.22% and a net margin of 5.84%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.33 EPS. As a group, research analysts predict that Crown Holdings, Inc. will post 7.49 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 19th. Stockholders of record on Thursday, August 5th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Wednesday, August 4th. Crown’s payout ratio is 13.51%.

Crown Profile

Crown Holdings, Inc engages in the design, manufacture, and sale of packaging products and equipment for consumer goods. The firm offers aerosol cans; beverage, promotional, and transit packaging; closures and capping; and food cans. It operates through the following segments: Americas, Europe, Asia Pacific, and Transit Packaging.

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Institutional Ownership by Quarter for Crown (NYSE:CCK)

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