Timothy J. Donahue Sells 15,000 Shares of Crown Holdings, Inc. (NYSE:CCK) Stock

Crown Holdings, Inc. (NYSE:CCK) CEO Timothy J. Donahue sold 15,000 shares of Crown stock in a transaction 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 transaction, the chief executive officer now owns 593,678 shares of the company’s stock, valued at $50,480,440.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Crown Trading Up 8.9 %

CCK traded up $6.87 on Tuesday, hitting $84.33. 2,875,696 shares of the company were exchanged, compared to its average volume of 1,128,802. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.77 and a current ratio of 1.19. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $96.35. The firm has a fifty day simple moving average of $79.16 and a two-hundred day simple moving average of $80.29. The stock has a market capitalization of $10.18 billion, a PE ratio of 24.37, a price-to-earnings-growth ratio of 2.04 and a beta of 0.85.

Crown (NYSE:CCK) last issued its earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) 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 analysts’ expectations of $3.06 billion. Crown had a net margin of 3.51% and a return on equity of 23.95%. The business’s revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the business earned $1.68 earnings per share. Sell-side analysts expect that Crown Holdings, Inc. will post 5.97 earnings per share for the current year.

Crown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, June 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.19%. Crown’s dividend payout ratio is currently 28.82%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Crown from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Truist Financial reaffirmed a “hold” rating and set a $88.00 target price (down previously from $100.00) on shares of Crown in a report on Wednesday, March 27th. UBS Group cut their price target on shares of Crown from $112.00 to $91.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Robert W. Baird upped their price target on shares of Crown from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Finally, Wells Fargo & Company lifted their price objective on Crown from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $96.77.

Institutional Trading of Crown

Several large investors have recently modified their holdings of CCK. Rise Advisors LLC bought a new stake in shares of Crown in the 1st quarter worth approximately $27,000. Mather Group LLC. bought a new stake in Crown in the first quarter valued at $32,000. Quest Partners LLC bought a new stake in Crown in the fourth quarter valued at $34,000. Quarry LP raised its holdings in Crown by 190.3% in the 4th quarter. Quarry LP now owns 421 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 276 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of Crown in the 1st quarter worth about $41,000. 90.93% of the stock is owned by institutional investors.

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.