Community Trust & Investment Co. Purchases 2,405 Shares of Crown Holdings, Inc. (NYSE:CCK)

Community Trust & Investment Co. increased its holdings in Crown Holdings, Inc. (NYSE:CCK) by 2.5% during the 4th quarter, HoldingsChannel reports. The firm owned 99,550 shares of the industrial products company’s stock after buying an additional 2,405 shares during the period. Community Trust & Investment Co.’s holdings in Crown were worth $8,232,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Tidal Investments LLC increased its holdings in shares of Crown by 121.3% in the 3rd quarter. Tidal Investments LLC now owns 21,997 shares of the industrial products company’s stock worth $2,109,000 after buying an additional 12,058 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Crown by 4.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 249,041 shares of the industrial products company’s stock valued at $23,878,000 after purchasing an additional 10,295 shares during the period. Sei Investments Co. boosted its holdings in shares of Crown by 139.2% in the 2nd quarter. Sei Investments Co. now owns 122,380 shares of the industrial products company’s stock worth $9,104,000 after purchasing an additional 71,227 shares during the period. Jensen Investment Management Inc. increased its position in shares of Crown by 7.8% during the 3rd quarter. Jensen Investment Management Inc. now owns 100,918 shares of the industrial products company’s stock valued at $9,676,000 after purchasing an additional 7,280 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in Crown by 19.3% during the 4th quarter. Nordea Investment Management AB now owns 1,095,382 shares of the industrial products company’s stock valued at $90,511,000 after buying an additional 176,959 shares during the period. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CCK shares. Robert W. Baird upped their price target on shares of Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Bank of America decreased their price target on Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Citigroup increased their target price on Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Royal Bank of Canada boosted their target price on shares of Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Truist Financial upped their target price on shares of Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $105.62.

Insider Buying and Selling

In other Crown news, COO Gerard H. Gifford sold 10,000 shares of Crown stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total transaction of $958,900.00. Following the completion of the sale, the chief operating officer now owns 114,402 shares of the company’s stock, valued at approximately $10,970,007.78. The trade was a 8.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total value of $725,475.00. Following the completion of the transaction, the chief executive officer now directly owns 563,678 shares in the company, valued at $54,524,572.94. This represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Crown Stock Performance

Shares of Crown stock opened at $84.06 on Wednesday. The company has a market capitalization of $10.06 billion, a PE ratio of 103.78, a P/E/G ratio of 1.95 and a beta of 0.86. The company has a 50-day simple moving average of $87.25 and a two-hundred day simple moving average of $87.93. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $98.46. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21.

Crown (NYSE:CCK) last posted its earnings results on Thursday, October 17th. The industrial products company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.18. The company had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. Research analysts expect that Crown Holdings, Inc. will post 6.34 EPS for the current fiscal year.

Crown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend was Thursday, November 14th. Crown’s payout ratio is currently 123.46%.

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.