Trivant Custom Portfolio Group LLC Takes Position in Crown Holdings, Inc. (NYSE:CCK)

Trivant Custom Portfolio Group LLC acquired a new stake in shares of Crown Holdings, Inc. (NYSE:CCK) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 540 shares of the industrial products company’s stock, valued at approximately $43,000.

Other large investors have also recently made changes to their positions in the company. Hudson Bay Capital Management LP lifted its position in shares of Crown by 55.6% during the 3rd quarter. Hudson Bay Capital Management LP now owns 70,000 shares of the industrial products company’s stock valued at $6,194,000 after buying an additional 25,000 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Crown by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 11,825,703 shares of the industrial products company’s stock worth $1,089,029,000 after purchasing an additional 173,460 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Crown by 245.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,808 shares of the industrial products company’s stock worth $5,784,000 after purchasing an additional 44,630 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Crown by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,320,502 shares of the industrial products company’s stock worth $121,614,000 after purchasing an additional 44,195 shares in the last quarter. Finally, Louisiana State Employees Retirement System purchased a new position in Crown in the 4th quarter worth approximately $3,122,000. 90.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Crown

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $85.00, for a total value of $637,500.00. Following the transaction, the chief executive officer now owns 608,678 shares of the company’s stock, valued at approximately $51,737,630. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $85.00, for a total value of $637,500.00. Following the completion of the sale, the chief executive officer now directly owns 608,678 shares in the company, valued at approximately $51,737,630. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James H. Miller sold 9,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $82.93, for a total value of $746,370.00. Following the completion of the sale, the director now owns 12,884 shares of the company’s stock, valued at $1,068,470.12. The disclosure for this sale can be found here. Insiders have sold 39,000 shares of company stock valued at $3,300,420 in the last quarter. 0.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CCK shares. JPMorgan Chase & Co. boosted their price target on Crown from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Morgan Stanley started coverage on Crown in a report on Monday, March 18th. They issued an “equal weight” rating and a $87.00 price target on the stock. Robert W. Baird boosted their price target on Crown from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Wolfe Research started coverage on Crown in a report on Friday, March 1st. They issued an “outperform” rating and a $102.00 price target on the stock. Finally, Loop Capital lifted their price objective on Crown from $101.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and ten have given 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 price target of $99.29.

Crown Trading Down 2.7 %

Shares of NYSE CCK traded down $2.09 during trading hours on Friday, hitting $74.39. 1,955,508 shares of the company traded hands, compared to its average volume of 864,807. The stock has a market capitalization of $8.98 billion, a price-to-earnings ratio of 21.44, a price-to-earnings-growth ratio of 2.02 and a beta of 0.88. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 2.26. The company’s 50 day moving average price is $81.48 and its 200 day moving average price is $82.26. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $96.35.

Crown (NYSE:CCK) last released its earnings results on Monday, April 29th. The industrial products company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.06. The firm had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.93 billion. Crown had a return on equity of 23.95% and a net margin of 3.51%. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 EPS. On average, equities research analysts anticipate that Crown Holdings, Inc. will post 5.95 earnings per share for the current fiscal year.

Crown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.34%. The ex-dividend date was Thursday, June 13th. Crown’s dividend payout ratio (DPR) is presently 28.82%.

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.