Steph & Co. Lowers Holdings in Crown Holdings, Inc. (NYSE:CCK)

Steph & Co. lessened its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 34.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,671 shares of the industrial products company’s stock after selling 1,400 shares during the quarter. Steph & Co.’s holdings in Crown were worth $221,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in Crown by 110.9% in the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 163 shares in the last quarter. Covestor Ltd grew its stake in shares of Crown by 156.5% in the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 277 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Crown during the third quarter worth $44,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Crown in the third quarter valued at $48,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Crown during the 3rd quarter worth $55,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on CCK. Truist Financial increased their price target on Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Mizuho decreased their price target on shares of Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Bank of America dropped their price objective on shares of Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Citigroup boosted their target price on shares of Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, StockNews.com cut Crown from a “buy” rating to a “hold” rating in a research note on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $105.62.

Insider Activity at Crown

In other news, COO Gerard H. Gifford sold 10,000 shares of the business’s stock in a transaction dated 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 directly owns 114,402 shares in the company, valued at $10,970,007.78. The trade was a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total value of $725,475.00. Following the completion of the sale, the chief executive officer now directly owns 563,678 shares in the company, valued at $54,524,572.94. This represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

Crown Trading Up 0.7 %

NYSE CCK opened at $84.64 on Thursday. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $98.46. The firm has a market cap of $10.13 billion, a PE ratio of 104.49, a P/E/G ratio of 1.51 and a beta of 0.86. The firm’s fifty day moving average is $87.06 and its two-hundred day moving average is $87.90. 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 quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.18. The company had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Crown had a return on equity of 24.57% and a net margin of 0.83%. Analysts expect that Crown Holdings, Inc. will post 6.35 earnings per share for the current year.

Crown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Thursday, November 14th. Crown’s dividend payout ratio is presently 123.46%.

Crown 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.