Janus Henderson Group PLC Trims Stake in Crown Holdings, Inc. (NYSE:CCK)

Janus Henderson Group PLC decreased its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 8.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 2,823,094 shares of the industrial products company’s stock after selling 264,740 shares during the quarter. Janus Henderson Group PLC’s holdings in Crown were worth $270,678,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Crown by 4.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 249,041 shares of the industrial products company’s stock valued at $23,878,000 after purchasing an additional 10,295 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Crown by 139.2% in the 2nd quarter. Sei Investments Co. now owns 122,380 shares of the industrial products company’s stock valued at $9,104,000 after acquiring an additional 71,227 shares during the period. Jensen Investment Management Inc. raised its position in shares of Crown by 7.8% in the 3rd quarter. Jensen Investment Management Inc. now owns 100,918 shares of the industrial products company’s stock worth $9,676,000 after acquiring an additional 7,280 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Crown by 62.0% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 23,142 shares of the industrial products company’s stock worth $1,722,000 after purchasing an additional 8,857 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Crown by 7.8% in the 3rd quarter. Victory Capital Management Inc. now owns 5,676,902 shares of the industrial products company’s stock valued at $544,301,000 after buying an additional 412,973 shares in the last quarter. 90.93% of the stock is currently owned by institutional investors.

Crown Stock Down 0.4 %

CCK stock opened at $92.03 on Wednesday. The company’s 50 day moving average price is $93.40 and its 200 day moving average price is $87.24. The firm has a market capitalization of $11.01 billion, a price-to-earnings ratio of 113.61, a PEG ratio of 2.05 and a beta of 0.84. Crown Holdings, Inc. has a fifty-two week low of $69.61 and a fifty-two week high of $98.46. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21.

Crown (NYSE:CCK) last posted its earnings results on Thursday, October 17th. The industrial products company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.18. Crown had a net margin of 0.83% and a return on equity of 24.57%. The firm had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.07 billion. On average, equities research analysts anticipate that Crown Holdings, Inc. will post 6.34 EPS for the current fiscal year.

Crown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Thursday, November 14th. Crown’s dividend payout ratio is presently 123.46%.

Insider Activity at Crown

In related news, COO Gerard H. Gifford sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the transaction, the chief operating officer now owns 114,402 shares of the company’s stock, valued at approximately $10,970,007.78. This represents a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $90.58, for a total value of $679,350.00. Following the completion of the transaction, the chief executive officer now owns 578,678 shares of the company’s stock, valued at $52,416,653.24. This trade represents a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,506 shares of company stock worth $3,157,399 over the last three months. 0.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CCK shares. Citigroup boosted their price target on Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Robert W. Baird lifted their price objective on shares of Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Morgan Stanley upped their target price on Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Loop Capital increased their price objective on Crown from $120.00 to $129.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Royal Bank of Canada upped their target price on Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $106.62.

Crown Company Profile

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.