Pacer Advisors Inc. Has $1.18 Million Stake in Crown Holdings, Inc. (NYSE:CCK)

Pacer Advisors Inc. reduced its position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 99.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,217 shares of the industrial products company's stock after selling 3,091,901 shares during the period. Pacer Advisors Inc.'s holdings in Crown were worth $1,180,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CCK. Norges Bank bought a new stake in shares of Crown during the 4th quarter worth $113,568,000. Orion Portfolio Solutions LLC boosted its holdings in Crown by 12.2% in the 4th quarter. Orion Portfolio Solutions LLC now owns 6,442 shares of the industrial products company's stock valued at $533,000 after purchasing an additional 703 shares during the period. Allstate Corp bought a new stake in Crown in the 4th quarter valued at $292,000. California Public Employees Retirement System boosted its holdings in Crown by 28.2% in the 4th quarter. California Public Employees Retirement System now owns 287,189 shares of the industrial products company's stock valued at $23,748,000 after purchasing an additional 63,239 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its holdings in Crown by 27.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 41,872 shares of the industrial products company's stock valued at $3,351,000 after purchasing an additional 8,937 shares during the period. 90.93% of the stock is owned by institutional investors.

Insider Activity

In other Crown news, CAO Gerard H. Gifford sold 8,222 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $102.93, for a total value of $846,290.46. Following the completion of the sale, the chief accounting officer owned 122,585 shares in the company, valued at approximately $12,617,674.05. This trade represents a 6.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Christy L. Kalaus sold 2,130 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $99.41, for a total transaction of $211,743.30. Following the completion of the sale, the vice president owned 4,500 shares of the company's stock, valued at $447,345. The trade was a 32.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,352 shares of company stock valued at $1,737,034 in the last 90 days. Corporate insiders own 0.90% of the company's stock.

Crown Price Performance

Shares of Crown stock traded up $0.05 during mid-day trading on Thursday, reaching $99.40. 1,122,080 shares of the stock were exchanged, compared to its average volume of 1,168,328. The company has a market cap of $11.57 billion, a price-to-earnings ratio of 20.88, a price-to-earnings-growth ratio of 1.52 and a beta of 0.76. The company has a current ratio of 1.06, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67. The firm has a 50-day simple moving average of $102.72 and a 200 day simple moving average of $93.81. Crown Holdings, Inc. has a fifty-two week low of $75.98 and a fifty-two week high of $109.48.

Crown (NYSE:CCK - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The industrial products company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.29. The firm had revenue of $3.15 billion during the quarter, compared to analysts' expectations of $3.10 billion. Crown had a net margin of 4.64% and a return on equity of 27.15%. The company's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.81 EPS. On average, sell-side analysts predict that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.0%. The ex-dividend date is Thursday, August 7th. Crown's dividend payout ratio (DPR) is presently 21.85%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CCK shares. Wall Street Zen raised shares of Crown from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. Morgan Stanley increased their price target on shares of Crown from $114.00 to $118.00 and gave the company an "overweight" rating in a report on Wednesday, June 25th. Bank of America increased their price target on shares of Crown from $110.00 to $117.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Citigroup restated a "buy" rating on shares of Crown in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada increased their price objective on shares of Crown from $115.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $120.67.

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.