Crown Holdings, Inc. (NYSE:CCK) Shares Sold by Independent Advisor Alliance

Independent Advisor Alliance lowered its holdings in Crown Holdings, Inc. (NYSE:CCK) by 4.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,300 shares of the industrial products company’s stock after selling 266 shares during the quarter. Independent Advisor Alliance’s holdings in Crown were worth $604,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CCK. Sessa Capital IM L.P. lifted its holdings in Crown by 153.0% in the second quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock valued at $244,697,000 after acquiring an additional 1,989,374 shares during the period. Metropolis Capital Ltd lifted its holdings in Crown by 269.7% in the third quarter. Metropolis Capital Ltd now owns 1,455,752 shares of the industrial products company’s stock valued at $139,578,000 after acquiring an additional 1,062,001 shares during the period. Jennison Associates LLC lifted its holdings in Crown by 125.0% in the third quarter. Jennison Associates LLC now owns 1,352,711 shares of the industrial products company’s stock valued at $129,698,000 after acquiring an additional 751,530 shares during the period. 1832 Asset Management L.P. lifted its holdings in Crown by 31.5% in the second quarter. 1832 Asset Management L.P. now owns 1,976,500 shares of the industrial products company’s stock valued at $147,032,000 after acquiring an additional 473,000 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Crown by 7.8% in the third quarter. Victory Capital Management Inc. now owns 5,676,902 shares of the industrial products company’s stock valued at $544,301,000 after acquiring an additional 412,973 shares during the period. Institutional investors and hedge funds own 90.93% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on CCK. Barclays lifted their price target on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Morgan Stanley lifted their price target on Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Wells Fargo & Company lifted their price target on Crown from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. StockNews.com raised Crown from a “hold” rating to a “buy” rating in a research note on Saturday, October 26th. Finally, Citigroup lifted their price target on Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Crown currently has a consensus rating of “Moderate Buy” and an average price target of $106.62.

Insider Activity

In related news, Director James H. Miller sold 1,006 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the sale, the director now owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. This represents a 7.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total transaction of $725,475.00. Following the sale, the chief executive officer now directly owns 563,678 shares of the company’s stock, valued at approximately $54,524,572.94. This trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,506 shares of company stock valued at $3,157,399 in the last 90 days. 0.90% of the stock is currently owned by insiders.

Crown Trading Up 0.9 %

Shares of CCK stock opened at $93.02 on Thursday. Crown Holdings, Inc. has a twelve month low of $69.61 and a twelve month high of $98.46. The firm has a 50-day moving average price of $93.60 and a 200 day moving average price of $86.96. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19. The company has a market capitalization of $11.13 billion, a price-to-earnings ratio of 114.84, a PEG ratio of 2.05 and a beta of 0.85.

Crown (NYSE:CCK) last posted its quarterly earnings data 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. Crown had a net margin of 0.83% and a return on equity of 24.57%. The company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.07 billion. Research analysts forecast that Crown Holdings, Inc. will post 6.34 earnings per share for the current fiscal year.

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date was Thursday, November 14th. Crown’s dividend payout ratio is currently 123.46%.

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.