Covestor Ltd Has $44,000 Stake in Crown Holdings, Inc. (NYSE:CCK)

Covestor Ltd boosted its stake in Crown Holdings, Inc. (NYSE:CCK) by 156.5% in the third quarter, HoldingsChannel.com reports. The firm owned 454 shares of the industrial products company’s stock after buying an additional 277 shares during the period. Covestor Ltd’s holdings in Crown were worth $44,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co grew its holdings in Crown by 16.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 103,013 shares of the industrial products company’s stock worth $8,163,000 after acquiring an additional 14,501 shares during the period. Sei Investments Co. grew its holdings in Crown by 139.2% during the 2nd quarter. Sei Investments Co. now owns 122,380 shares of the industrial products company’s stock worth $9,104,000 after acquiring an additional 71,227 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in Crown by 16.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 131,635 shares of the industrial products company’s stock worth $10,888,000 after acquiring an additional 18,165 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Crown by 22.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 198,984 shares of the industrial products company’s stock worth $15,772,000 after acquiring an additional 36,895 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Crown by 62.0% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 23,142 shares of the industrial products company’s stock worth $1,722,000 after acquiring an additional 8,857 shares during the period. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director James H. Miller sold 1,006 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total value of $96,173.60. Following the sale, the director now directly owns 12,424 shares of the company’s stock, valued at $1,187,734.40. This trade represents a 7.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $90.58, for a total transaction of $679,350.00. Following the transaction, the chief executive officer now owns 578,678 shares in the company, valued at $52,416,653.24. The trade was a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,506 shares of company stock worth $3,157,399 over the last quarter. 0.90% of the stock is currently owned by company insiders.

Crown Stock Performance

Shares of CCK stock opened at $89.84 on Friday. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $98.46. The company has a market cap of $10.75 billion, a P/E ratio of 110.91, a P/E/G ratio of 2.05 and a beta of 0.85. The firm has a 50-day moving average of $93.58 and a 200-day moving average of $86.52. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84.

Crown (NYSE:CCK) last posted its earnings results on Thursday, October 17th. The industrial products company reported $1.99 EPS for the quarter, topping the consensus estimate of $1.81 by $0.18. The firm had revenue of $3.07 billion for 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%. Equities research analysts forecast that Crown Holdings, Inc. will post 6.34 EPS for the current fiscal year.

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.11%. Crown’s dividend payout ratio is presently 123.46%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CCK. Bank of America increased their price target on Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Mizuho set a $110.00 price target on Crown in a research note on Friday, October 18th. Royal Bank of Canada raised their price objective on Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Citigroup upped their target price on Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley lifted their price target on shares of Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $106.62.

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.