Crown Holdings, Inc. (NYSE:CCK) Shares Sold by ING Groep NV

ING Groep NV lessened its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 40.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 300,000 shares of the industrial products company's stock after selling 200,000 shares during the period. ING Groep NV owned 0.25% of Crown worth $27,627,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Boston Partners acquired a new position in Crown during the fourth quarter valued at approximately $84,960,000. Toronto Dominion Bank boosted its holdings in Crown by 41.9% in the third quarter. Toronto Dominion Bank now owns 2,213,904 shares of the industrial products company's stock valued at $195,886,000 after acquiring an additional 654,082 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Crown by 46.7% during the third quarter. Hsbc Holdings PLC now owns 1,414,343 shares of the industrial products company's stock worth $125,449,000 after purchasing an additional 450,087 shares during the period. Victory Capital Management Inc. grew its holdings in Crown by 9.6% during the third quarter. Victory Capital Management Inc. now owns 4,786,441 shares of the industrial products company's stock worth $423,504,000 after buying an additional 418,220 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in Crown in the 3rd quarter valued at $32,989,000. Institutional investors own 90.93% of the company's stock.

Crown Stock Down 0.4 %

Crown stock traded down $0.35 during midday trading on Friday, hitting $84.90. 532,119 shares of the stock were exchanged, compared to its average volume of 1,227,184. The firm has a market cap of $10.25 billion, a P/E ratio of 24.47, a P/E/G ratio of 2.87 and a beta of 0.88. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.19 and a quick ratio of 0.77. Crown Holdings, Inc. has a 1 year low of $69.61 and a 1 year high of $96.35. The company has a 50 day moving average price of $79.73 and a two-hundred day moving average price of $82.93.

Crown (NYSE:CCK - Get Free Report) last released its earnings results on Monday, April 29th. The industrial products company reported $1.02 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.06. The business had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.93 billion. Crown had a net margin of 3.51% and a return on equity of 23.95%. The business's revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.20 EPS. On average, sell-side analysts predict that Crown Holdings, Inc. will post 5.95 earnings per share for the current fiscal year.

Crown Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Thursday, June 13th. Crown's payout ratio is currently 28.82%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CCK. Truist Financial reaffirmed a "hold" rating and issued a $88.00 price objective (down previously from $100.00) on shares of Crown in a research note on Wednesday, March 27th. JPMorgan Chase & Co. upped their price objective on shares of Crown from $85.00 to $90.00 and gave the company an "overweight" rating in a research note on Wednesday, May 1st. Royal Bank of Canada dropped their target price on shares of Crown from $110.00 to $97.00 and set an "outperform" rating for the company in a report on Thursday, February 8th. Loop Capital lifted their price target on shares of Crown from $101.00 to $106.00 and gave the company a "buy" rating in a report on Wednesday, May 1st. Finally, Morgan Stanley began coverage on shares of Crown in a research report on Monday, March 18th. They issued an "equal weight" rating and a $87.00 target price for the company. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $99.29.

Insider Activity

In other news, CEO Timothy J. Donahue sold 22,500 shares of the business's stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $85.18, for a total transaction of $1,916,550.00. Following the sale, the chief executive officer now directly owns 616,178 shares in the company, valued at $52,486,042.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $85.00, for a total transaction of $637,500.00. Following the completion of the transaction, the chief executive officer now owns 608,678 shares in the company, valued at $51,737,630. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy J. Donahue sold 22,500 shares of Crown stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $85.18, for a total value of $1,916,550.00. Following the completion of the sale, the chief executive officer now directly owns 616,178 shares of the company's stock, valued at approximately $52,486,042.04. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Crown 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.

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