Crown Holdings, Inc. (NYSE:CCK) CEO Timothy J. Donahue Sells 22,500 Shares

Crown Holdings, Inc. (NYSE:CCK) CEO Timothy J. Donahue sold 22,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $85.18, for a total transaction of $1,916,550.00. Following the transaction, the chief executive officer now directly owns 616,178 shares of the company’s stock, valued at approximately $52,486,042.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Crown Stock Performance

NYSE CCK traded up $0.98 on Tuesday, hitting $82.07. The stock had a trading volume of 2,871,726 shares, compared to its average volume of 1,238,346. The company’s 50-day moving average is $77.60 and its two-hundred day moving average is $82.60. The stock has a market cap of $9.91 billion, a price-to-earnings ratio of 21.55, a P/E/G ratio of 2.73 and a beta of 0.91. The company has a quick ratio of 0.77, a current ratio of 1.15 and a debt-to-equity ratio of 2.34. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $96.35.

Crown (NYSE:CCK) last posted its earnings results on Monday, April 29th. The industrial products company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.96 by $0.06. Crown had a return on equity of 25.75% and a net margin of 3.75%. The firm 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. The firm’s revenue was down 6.4% compared to the same quarter last year. On average, analysts expect that Crown Holdings, Inc. will post 5.9 earnings per share for the current year.

Crown Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.25 per share. This is a boost from Crown’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.00 annualized dividend and a yield of 1.22%. Crown’s dividend payout ratio (DPR) is presently 26.60%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Mizuho dropped their price objective on Crown from $105.00 to $96.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Royal Bank of Canada lowered their target price on Crown from $110.00 to $97.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. Robert W. Baird raised Crown from a “neutral” rating to an “outperform” rating and upped their target price for the company from $85.00 to $90.00 in a research report on Tuesday, April 16th. Wolfe Research began coverage on shares of Crown in a research report on Friday, March 1st. They set an “outperform” rating and a $102.00 price target for the company. Finally, Morgan Stanley initiated coverage on shares of Crown in a research note on Monday, March 18th. They issued an “equal weight” rating and a $87.00 price target for the company. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $99.21.

Institutional Trading of Crown

A number of institutional investors have recently made changes to their positions in the stock. Hudson Bay Capital Management LP lifted its position in Crown by 55.6% in the third quarter. Hudson Bay Capital Management LP now owns 70,000 shares of the industrial products company’s stock worth $6,194,000 after purchasing an additional 25,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Crown by 245.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,808 shares of the industrial products company’s stock worth $5,784,000 after purchasing an additional 44,630 shares during the period. Louisiana State Employees Retirement System purchased a new position in Crown during the 4th quarter worth approximately $3,122,000. Wellington Management Group LLP raised its stake in Crown by 4.1% during the 3rd quarter. Wellington Management Group LLP now owns 504,720 shares of the industrial products company’s stock valued at $44,658,000 after purchasing an additional 19,666 shares during the period. Finally, SeaTown Holdings Pte. Ltd. lifted its holdings in shares of Crown by 19.6% in the third quarter. SeaTown Holdings Pte. Ltd. now owns 86,100 shares of the industrial products company’s stock valued at $7,618,000 after purchasing an additional 14,100 shares in the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

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.