Crown Holdings, Inc. (NYSE:CCK) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. decreased its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 2.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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. owned about 0.24% of Crown worth $21,399,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity

In other Crown news, CEO Timothy J. Donahue sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was 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 approximately $50,480,440.34. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Timothy J. Donahue sold 15,000 shares of the stock in a transaction dated 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $90.58, for a total value of $679,350.00. Following the completion of the sale, the chief executive officer now owns 578,678 shares in the company, valued at $52,416,653.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,000 shares of company stock valued at $2,598,675. 0.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CCK. Citigroup lifted their target price on Crown from $94.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Loop Capital raised their price target on Crown from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. UBS Group decreased their target price on shares of Crown from $112.00 to $91.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Bank of America increased their price target on Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, StockNews.com cut Crown from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $101.14.

Crown Price Performance

Shares of CCK opened at $91.34 on Monday. 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 firm has a market cap of $11.02 billion, a PE ratio of 26.32, a PEG ratio of 2.13 and a beta of 0.85. Crown Holdings, Inc. has a twelve month low of $69.61 and a twelve month high of $93.79. The firm’s 50 day moving average price is $85.47 and its 200 day moving average price is $81.56.

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

Crown Dividend Announcement

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