Barclays PLC Sells 526,122 Shares of Crown Holdings, Inc. (NYSE:CCK)

Barclays PLC cut its holdings in Crown Holdings, Inc. (NYSE:CCK) by 76.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 159,686 shares of the industrial products company’s stock after selling 526,122 shares during the quarter. Barclays PLC owned about 0.13% of Crown worth $15,311,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. FMR LLC grew its stake in Crown by 9.3% in the third quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock valued at $842,556,000 after acquiring an additional 749,085 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Crown by 7.8% during 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 purchasing an additional 412,973 shares in the last quarter. State Street Corp grew its position in shares of Crown by 1.8% in the 3rd quarter. State Street Corp now owns 4,000,402 shares of the industrial products company’s stock valued at $383,559,000 after purchasing an additional 69,260 shares during the period. Sessa Capital IM L.P. increased its stake in Crown by 153.0% during the 2nd quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock worth $244,697,000 after purchasing an additional 1,989,374 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in Crown by 31.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,976,500 shares of the industrial products company’s stock worth $147,032,000 after buying an additional 473,000 shares during the period. Institutional investors and hedge funds own 90.93% of the company’s stock.

Insider Activity

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction on Monday, October 7th. The shares were sold at an average price of $93.00, for a total transaction of $697,500.00. Following the completion of the transaction, the chief executive officer now directly owns 571,178 shares of the company’s stock, valued at $53,119,554. The trade was a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James H. Miller sold 1,006 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the transaction, the director now directly owns 12,424 shares in the company, valued at $1,187,734.40. The trade was a 7.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,006 shares of company stock valued at $2,478,049. 0.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CCK. Citigroup upped their price target on shares of Crown from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Truist Financial upped their target price on shares of Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. StockNews.com raised Crown from a “hold” rating to a “buy” rating in a research note on Saturday, October 26th. Robert W. Baird upped their price objective on Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Finally, Royal Bank of Canada increased their price objective on Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $106.62.

Crown Stock Down 0.2 %

CCK stock opened at $87.88 on Monday. The company has a market cap of $10.51 billion, a price-to-earnings ratio of 108.49, a P/E/G ratio of 1.95 and a beta of 0.83. Crown Holdings, Inc. has a twelve month low of $69.61 and a twelve month high of $98.46. The business has a 50 day moving average price of $92.45 and a two-hundred day moving average price of $87.51. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19.

Crown (NYSE:CCK) last released its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.81 by $0.18. The company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.07 billion. Crown had a return on equity of 24.57% and a net margin of 0.83%. Analysts anticipate that Crown Holdings, Inc. will post 6.34 EPS for the current fiscal year.

Crown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.14%. 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.