159,366 Crown Holdings, Inc. $CCK Shares Sold by AEGON ASSET MANAGEMENT UK Plc

Key Points

• AEGON Asset Management UK cut its Crown Holdings stake by 54.8%, selling 159,366 shares in the third quarter; it retained 131,414 shares valued at about $13.9 million.
• Crown reported quarterly earnings of $2.39 per share, beating the $2.26 consensus, while revenue rose 15.9% year over year to $3.71 billion.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $128.47; Crown also declared a quarterly dividend of $0.35 per share.

AEGON ASSET MANAGEMENT UK Plc trimmed its position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 54.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,414 shares of the industrial products company's stock after selling 159,366 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned approximately 0.12% of Crown worth $13,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Childress Capital Advisors LLC lifted its holdings in shares of Crown by 1.4% in the 3rd quarter. Childress Capital Advisors LLC now owns 7,901 shares of the industrial products company's stock worth $833,000 after acquiring an additional 108 shares during the last quarter. Anchor Investment Management LLC grew its holdings in Crown by 5.8% during the 2nd quarter. Anchor Investment Management LLC now owns 1,974 shares of the industrial products company's stock worth $221,000 after acquiring an additional 109 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Crown by 2.1% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,838 shares of the industrial products company's stock valued at $585,000 after purchasing an additional 121 shares in the last quarter. Amova Asset Management Americas Inc. boosted its stake in shares of Crown by 2.1% during the first quarter. Amova Asset Management Americas Inc. now owns 5,838 shares of the industrial products company's stock valued at $585,000 after purchasing an additional 121 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in Crown by 13.4% during the third quarter. Parallel Advisors LLC now owns 1,127 shares of the industrial products company's stock valued at $119,000 after buying an additional 133 shares during the period. 90.93% of the stock is currently owned by institutional investors.

Crown Stock Performance

NYSE:CCK opened at $123.32 on Tuesday. The company has a market cap of $13.32 billion, a P/E ratio of 14.72, a P/E/G ratio of 1.56 and a beta of 0.54. Crown Holdings, Inc. has a twelve month low of $91.31 and a twelve month high of $126.36. The company's 50-day moving average price is $113.21 and its 200-day moving average price is $109.02. The company has a current ratio of 1.14, a quick ratio of 0.71 and a debt-to-equity ratio of 1.65.

Crown (NYSE:CCK - Get Free Report) last announced its quarterly earnings results on Monday, October 19th. The industrial products company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.13. The firm had revenue of $3.71 billion for the quarter, compared to analysts' expectations of $3.45 billion. Crown had a net margin of 5.78% and a return on equity of 27.41%. The company's revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.24 EPS. On average, sell-side analysts forecast that Crown Holdings, Inc. will post 8.41 earnings per share for the current fiscal year.

Crown Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 5th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, November 5th. Crown's dividend payout ratio is 19.50%.

Wall Street Analyst Weigh In

CCK has been the subject of a number of recent research reports. Wells Fargo & Company reissued a "cautious" rating on shares of Crown in a research note on Monday, October 19th. Citigroup raised their price target on shares of Crown from $137.00 to $139.00 and gave the company a "buy" rating in a report on Wednesday, October 21st. Raymond James Financial lifted their price objective on shares of Crown from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 15th. Jefferies Financial Group set a $121.00 price target on Crown in a research note on Wednesday, July 22nd. Finally, Wall Street Zen lowered Crown from a "buy" rating to a "hold" rating in a report on Saturday, October 31st. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $128.47.

Crown Company Profile

Crown Holdings, Inc is a global packaging company that designs and manufactures metal packaging for consumer goods and industrial products. Its products include beverage cans, food cans, aerosol containers, metal closures and other packaging components.

The company serves customers across a range of industries, including beverage, food, household and personal care, and industrial markets. Its operations span North America, Europe, Asia-Pacific and other international markets.

Crown traces its roots to 1892, when William Painter founded the Crown Cork and Seal Company in Baltimore.

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