Brown Brothers Harriman & Co. Sells 5,726 Shares of Crown Holdings, Inc. (NYSE:CCK)

Brown Brothers Harriman & Co. trimmed its position in Crown Holdings, Inc. (NYSE:CCK) by 2.0% during the second quarter, Holdings Channel reports. The institutional investor owned 287,661 shares of the industrial products company’s stock after selling 5,726 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Crown were worth $21,399,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CCK. Rise Advisors LLC bought a new position in Crown in the first quarter valued at about $27,000. Mather Group LLC. acquired a new position in Crown in the first quarter valued at approximately $32,000. Quest Partners LLC bought a new position in Crown in the fourth quarter valued at approximately $34,000. Quarry LP grew its holdings in Crown by 190.3% during the 4th quarter. Quarry LP now owns 421 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 276 shares during the period. Finally, EntryPoint Capital LLC bought a new stake in shares of Crown during the 1st quarter valued at $41,000. 90.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Crown

In related news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total value of $643,875.00. Following the completion of the sale, the chief executive officer now directly owns 586,178 shares in the company, valued at approximately $50,323,381.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total value of $643,875.00. Following the sale, the chief executive officer now owns 586,178 shares in the company, valued at $50,323,381.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy J. Donahue sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total value of $1,275,450.00. Following the completion of the sale, the chief executive officer now directly owns 593,678 shares of the company’s stock, valued at $50,480,440.34. The disclosure for this sale can be found here. Insiders have sold 30,000 shares of company stock worth $2,598,675 in the last ninety days. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Citigroup upped their price objective on Crown from $94.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, July 25th. StockNews.com cut shares of Crown from a “buy” rating to a “hold” rating in a report on Monday, September 9th. Bank of America increased their target price on shares of Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Wells Fargo & Company boosted their price target on shares of Crown from $85.00 to $88.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Finally, Truist Financial increased their target price on Crown from $88.00 to $95.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $101.14.

Crown Price Performance

NYSE:CCK opened at $91.34 on Monday. Crown Holdings, Inc. has a 52-week low of $69.61 and a 52-week high of $93.79. The company has a market cap of $11.02 billion, a P/E ratio of 26.32, a P/E/G ratio of 2.13 and a beta of 0.85. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.73 and a current ratio of 1.05. The stock’s 50-day simple moving average is $85.47 and its 200 day simple moving average is $81.56.

Crown (NYSE:CCK) last posted its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.22. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.06 billion. Crown had a return on equity of 23.96% and a net margin of 3.68%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.68 EPS. As a group, sell-side analysts forecast that Crown Holdings, Inc. will post 6.15 EPS for the current fiscal year.

Crown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Thursday, August 15th. Crown’s dividend payout ratio (DPR) is presently 28.82%.

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.