Crown Holdings, Inc. (NYSE:CCK) Stock Position Reduced by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB reduced its stake in Crown Holdings by 47.0% during the first quarter, leaving it with 31,562 shares valued at approximately $2.82 million.
• Crown Holdings reported an earnings per share (EPS) of $2.15, exceeding analysts' expectations of $1.86, with a quarterly revenue of $3.15 billion.
• The company declared a quarterly dividend of $0.26 per share, set to be paid on August 21st, representing an annualized dividend yield of 1.03%.

Skandinaviska Enskilda Banken AB publ lessened its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 47.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,562 shares of the industrial products company's stock after selling 28,000 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Crown were worth $2,817,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC grew its holdings in Crown by 47.6% during the first quarter. Larson Financial Group LLC now owns 332 shares of the industrial products company's stock worth $30,000 after acquiring an additional 107 shares during the period. Signaturefd LLC grew its holdings in Crown by 161.2% during the first quarter. Signaturefd LLC now owns 397 shares of the industrial products company's stock worth $35,000 after acquiring an additional 245 shares during the period. Colonial Trust Co SC grew its holdings in Crown by 88.0% during the fourth quarter. Colonial Trust Co SC now owns 752 shares of the industrial products company's stock worth $62,000 after acquiring an additional 352 shares during the period. Parallel Advisors LLC grew its holdings in Crown by 33.8% during the first quarter. Parallel Advisors LLC now owns 811 shares of the industrial products company's stock worth $72,000 after acquiring an additional 205 shares during the period. Finally, Natixis acquired a new position in Crown during the fourth quarter worth $91,000. Institutional investors and hedge funds own 90.93% of the company's stock.

Crown Stock Down 1.3%

NYSE CCK traded down $1.30 during mid-day trading on Friday, reaching $98.06. 503,973 shares of the company's stock traded hands, compared to its average volume of 1,293,816. Crown Holdings, Inc. has a 1-year low of $75.98 and a 1-year high of $109.48. The company has a fifty day simple moving average of $102.72 and a 200-day simple moving average of $93.81. 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 company has a market cap of $11.41 billion, a price-to-earnings ratio of 20.62, a P/E/G ratio of 1.52 and a beta of 0.76.

Crown (NYSE:CCK - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The industrial products company reported $2.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.86 by $0.29. Crown had a return on equity of 27.15% and a net margin of 4.64%. The firm had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same quarter last year, the firm earned $1.81 EPS. Crown's quarterly revenue was up 3.6% on a year-over-year basis. As a group, equities research analysts expect that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Thursday, August 7th. Crown's dividend payout ratio (DPR) is 21.85%.

Insider Buying and Selling

In other Crown news, CAO Gerard H. Gifford sold 8,222 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $102.93, for a total transaction of $846,290.46. Following the completion of the sale, the chief accounting officer owned 122,585 shares in the company, valued at $12,617,674.05. This trade represents a 6.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christy L. Kalaus sold 2,130 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $99.41, for a total value of $211,743.30. Following the transaction, the vice president directly owned 4,500 shares in the company, valued at approximately $447,345. This represents a 32.13% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CCK has been the topic of a number of recent analyst reports. Barclays upped their price objective on Crown from $109.00 to $117.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. UBS Group upped their price objective on Crown from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Morgan Stanley upped their price objective on Crown from $114.00 to $118.00 and gave the company an "overweight" rating in a research report on Wednesday, June 25th. Wall Street Zen upgraded Crown from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Finally, Citigroup restated a "buy" rating on shares of Crown in a research note on Wednesday, July 23rd. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $120.67.

About Crown

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.