Crown Holdings, Inc. (NYSE:CCK) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 0.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,263,929 shares of the industrial products company’s stock after selling 47,051 shares during the period. Victory Capital Management Inc. owned 4.36% of Crown worth $391,584,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mutual of America Capital Management LLC increased its position in Crown by 10.3% during the first quarter. Mutual of America Capital Management LLC now owns 153,739 shares of the industrial products company’s stock worth $12,185,000 after purchasing an additional 14,362 shares during the last quarter. Vanguard Group Inc. increased its position in Crown by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 11,825,703 shares of the industrial products company’s stock worth $1,089,029,000 after purchasing an additional 173,460 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Crown by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,320,502 shares of the industrial products company’s stock worth $121,614,000 after purchasing an additional 44,195 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Crown during the fourth quarter worth about $1,925,000. Finally, Grand Jean Capital Management Inc. increased its position in Crown by 28.8% during the fourth quarter. Grand Jean Capital Management Inc. now owns 140,384 shares of the industrial products company’s stock worth $12,928,000 after purchasing an additional 31,401 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CCK has been the subject of several research analyst reports. Morgan Stanley increased their target price on shares of Crown from $92.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Truist Financial increased their target price on shares of Crown from $88.00 to $95.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Loop Capital increased their target price on shares of Crown from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research note on Wednesday, August 21st. Finally, UBS Group lowered their target price on shares of Crown from $112.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $101.14.

Crown Stock Up 0.1 %

Shares of Crown stock opened at $90.38 on Friday. Crown Holdings, Inc. has a 52-week low of $69.61 and a 52-week high of $93.79. The company has a 50 day moving average of $83.35 and a 200 day moving average of $80.84. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 2.00. The company has a market capitalization of $10.91 billion, a P/E ratio of 26.05, a P/E/G ratio of 2.14 and a beta of 0.85.

Crown (NYSE:CCK) last issued its quarterly 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 company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.06 billion. Crown had a net margin of 3.68% and a return on equity of 23.96%. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.68 earnings per share. As a group, research analysts forecast that Crown Holdings, Inc. will post 6.16 EPS for the current fiscal year.

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a $0.25 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 1.11%. Crown’s dividend payout ratio is presently 28.82%.

Insider Activity

In other news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total value of $643,875.00. Following the completion of the sale, the chief executive officer now directly owns 586,178 shares of the company’s stock, valued at approximately $50,323,381.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Timothy J. Donahue sold 15,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the completion of the transaction, the chief executive officer now directly owns 593,678 shares of the company’s stock, valued at approximately $50,480,440.34. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total value of $643,875.00. Following the transaction, the chief executive officer now directly owns 586,178 shares of the company’s stock, valued at $50,323,381.30. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

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.