Crown Holdings, Inc. (NYSE:CCK) CEO Timothy J. Donahue Sells 22,500 Shares

Crown Holdings, Inc. (NYSE:CCK - Get Free Report) CEO Timothy J. Donahue sold 22,500 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $85.18, for a total transaction of $1,916,550.00. Following the completion of the sale, the chief executive officer now owns 616,178 shares of the company's stock, valued at approximately $52,486,042.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Crown Stock Performance

NYSE CCK traded up $0.98 on Tuesday, hitting $82.07. 2,933,159 shares of the stock were exchanged, compared to its average volume of 1,248,237. The business's fifty day moving average is $77.78 and its 200 day moving average is $82.62. Crown Holdings, Inc. has a 52 week low of $69.61 and a 52 week high of $96.35. The company has a market capitalization of $9.91 billion, a PE ratio of 21.83, a P/E/G ratio of 2.73 and a beta of 0.91. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.15 and a quick ratio of 0.77.

Crown (NYSE:CCK - Get Free Report) last issued its earnings results on Monday, April 29th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.06. Crown had a net margin of 3.75% and a return on equity of 25.75%. The business had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same period last year, the business posted $1.20 EPS. Crown's revenue was down 6.4% on a year-over-year basis. Research analysts anticipate that Crown Holdings, Inc. will post 5.9 EPS for the current fiscal year.

Crown Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 13th. This is a positive change from Crown's previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.22%. Crown's payout ratio is presently 26.60%.

Wall Street Analysts Forecast Growth

CCK has been the subject of several research reports. Royal Bank of Canada reduced their target price on Crown from $110.00 to $97.00 and set an "outperform" rating for the company in a research report on Thursday, February 8th. Wolfe Research began coverage on shares of Crown in a research note on Friday, March 1st. They set an "outperform" rating and a $102.00 price target for the company. Morgan Stanley began coverage on Crown in a report on Monday, March 18th. They issued an "equal weight" rating and a $87.00 target price for the company. Truist Financial reissued a "hold" rating and set a $88.00 price objective (down from $100.00) on shares of Crown in a report on Wednesday, March 27th. Finally, Robert W. Baird upgraded shares of Crown from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $85.00 to $90.00 in a research report on Tuesday, April 16th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Crown has an average rating of "Moderate Buy" and an average price target of $99.21.

Institutional Investors Weigh In On Crown

Several hedge funds have recently added to or reduced their stakes in CCK. DB Fitzpatrick & Co Inc raised its position in shares of Crown by 0.9% in the third quarter. DB Fitzpatrick & Co Inc now owns 16,258 shares of the industrial products company's stock valued at $1,439,000 after purchasing an additional 142 shares during the period. Picton Mahoney Asset Management raised its holdings in Crown by 14.0% in the 4th quarter. Picton Mahoney Asset Management now owns 1,181 shares of the industrial products company's stock valued at $109,000 after acquiring an additional 145 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its position in Crown by 5.3% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,057 shares of the industrial products company's stock worth $282,000 after acquiring an additional 154 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Crown by 6.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,464 shares of the industrial products company's stock worth $227,000 after acquiring an additional 160 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its position in shares of Crown by 1.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 13,715 shares of the industrial products company's stock valued at $1,205,000 after purchasing an additional 180 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company's stock.

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.