Crown Holdings, Inc. $CCK Shares Sold by D.A. Davidson & CO.

Key Points

• D.A. Davidson reduced its Crown Holdings stake by 38.3% in the third quarter, selling 14,125 shares and retaining 22,748 shares valued at approximately $2.4 million. Institutional investors collectively own 90.93% of the company.
• Analysts remain broadly positive, with 12 Buy ratings and five Holds producing a consensus “Moderate Buy” rating and an average price target of $128.47.
• Crown exceeded quarterly expectations, reporting $2.39 in adjusted EPS and $3.71 billion in revenue, while revenue increased 15.9% year over year. The company also declared a $0.35 quarterly dividend, equivalent to a 1.1% yield.

D.A. Davidson & CO. lowered its position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 38.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,748 shares of the industrial products company's stock after selling 14,125 shares during the quarter. D.A. Davidson & CO.'s holdings in Crown were worth $2,398,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. SYM FINANCIAL Corp raised its stake in shares of Crown by 11.4% in the third quarter. SYM FINANCIAL Corp now owns 2,564 shares of the industrial products company's stock valued at $270,000 after acquiring an additional 262 shares during the last quarter. Park Avenue Securities LLC grew its position in Crown by 56.1% during the 3rd quarter. Park Avenue Securities LLC now owns 6,793 shares of the industrial products company's stock worth $716,000 after acquiring an additional 2,440 shares during the last quarter. WESPAC Advisors LLC bought a new stake in Crown during the 3rd quarter worth approximately $281,000. Viewpoint Investment Partners Corp bought a new stake in Crown during the 3rd quarter worth approximately $464,000. Finally, Citizens Financial Group Inc. RI acquired a new stake in Crown during the 3rd quarter valued at $646,000. 90.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CCK shares. Royal Bank Of Canada increased their target price on Crown from $131.00 to $135.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Bank of America lifted their price target on Crown from $129.00 to $145.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. BMO Capital Markets upped their price target on shares of Crown from $130.00 to $135.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 22nd. Mizuho increased their price objective on shares of Crown from $130.00 to $135.00 and gave the stock an "outperform" rating in a report on Tuesday, July 21st. Finally, Wall Street Zen lowered shares of Crown from a "buy" rating to a "hold" rating in a report on Saturday. Twelve equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Crown currently has a consensus rating of "Moderate Buy" and a consensus price target of $128.47.

Crown Price Performance

Crown stock opened at $123.14 on Tuesday. The business's 50-day simple moving average is $112.87 and its 200 day simple moving average is $108.55. The company has a quick ratio of 0.71, a current ratio of 1.14 and a debt-to-equity ratio of 1.65. The stock has a market cap of $13.39 billion, a price-to-earnings ratio of 13.71, a P/E/G ratio of 1.45 and a beta of 0.56. Crown Holdings, Inc. has a 12-month low of $91.31 and a 12-month high of $123.33.

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

Crown Dividend Announcement

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

About Crown

Crown Holdings, Inc NYSE: CCK is a global packaging company that designs, manufactures and sells metal packaging products. Its portfolio includes beverage cans, food cans, aerosol cans, closures and other specialty packaging used by consumer goods, food and beverage, household, personal care and industrial customers.

The company serves customers across North America, Europe, Asia Pacific and other international markets. Crown's products are used for beer, soft drinks, energy drinks, canned foods, household products, personal care items and industrial materials.

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