AdvisorShares Investments LLC Invests $263,000 in Crown Holdings, Inc. (NYSE:CCK)

AdvisorShares Investments LLC acquired a new stake in Crown Holdings, Inc. (NYSE:CCKGet Rating) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 2,100 shares of the industrial products company’s stock, valued at approximately $263,000.

A number of other institutional investors also recently made changes to their positions in the business. McIlrath & Eck LLC boosted its stake in shares of Crown by 11.8% in the 4th quarter. McIlrath & Eck LLC now owns 946 shares of the industrial products company’s stock valued at $105,000 after purchasing an additional 100 shares in the last quarter. Connable Office Inc. boosted its position in Crown by 4.0% during the 4th quarter. Connable Office Inc. now owns 2,840 shares of the industrial products company’s stock valued at $314,000 after buying an additional 108 shares during the period. NorthCrest Asset Manangement LLC lifted its position in shares of Crown by 3.1% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 4,040 shares of the industrial products company’s stock worth $505,000 after purchasing an additional 120 shares during the period. Nissay Asset Management Corp Japan ADV increased its stake in shares of Crown by 0.9% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 14,024 shares of the industrial products company’s stock worth $1,551,000 after acquiring an additional 127 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake in shares of Crown by 4.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,281 shares of the industrial products company’s stock worth $362,000 after acquiring an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 91.52% of the company’s stock.

Insider Activity

In related news, insider Djalma Novaes, Jr. sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $105.38, for a total value of $526,900.00. Following the sale, the insider now owns 80,328 shares in the company, valued at $8,464,964.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

CCK has been the subject of several research reports. Morgan Stanley decreased their price target on shares of Crown from $135.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, July 26th. Robert W. Baird decreased their price target on shares of Crown from $165.00 to $130.00 in a research note on Friday, July 22nd. Mizuho decreased their price target on shares of Crown from $131.00 to $126.00 in a research note on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Crown from $137.00 to $135.00 in a research note on Tuesday, July 19th. Finally, Citigroup reduced their price objective on shares of Crown from $130.00 to $126.00 in a research note on Friday, July 22nd. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.64.

Crown Price Performance

Shares of NYSE:CCK opened at $90.30 on Friday. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.95 and a quick ratio of 0.59. Crown Holdings, Inc. has a 1-year low of $85.85 and a 1-year high of $130.42. The company has a market capitalization of $10.94 billion, a P/E ratio of -30.20, a P/E/G ratio of 2.38 and a beta of 1.13. The firm’s 50 day simple moving average is $95.78 and its two-hundred day simple moving average is $109.30.

Crown (NYSE:CCKGet Rating) last released its quarterly earnings data on Wednesday, July 20th. The industrial products company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.07. The firm had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.20 billion. Crown had a negative net margin of 3.07% and a positive return on equity of 40.47%. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.14 earnings per share. Research analysts expect that Crown Holdings, Inc. will post 7.76 EPS for the current fiscal year.

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 25th. Stockholders of record on Thursday, August 11th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Wednesday, August 10th. Crown’s payout ratio is currently -29.43%.

Crown Company Profile

(Get Rating)

Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food and beverage industries. The company also provides products for industrial products, such as steel and plastic strap consumables and equipment, paper-based protective packaging, and plastic film consumables and equipment to metals, food and beverage, construction, agricultural, corrugated, and general industries.

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Institutional Ownership by Quarter for Crown (NYSE:CCK)

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