Crown Holdings, Inc. (NYSE:CCK) Stake Lowered by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC trimmed its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 7.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,539 shares of the industrial products company’s stock after selling 197 shares during the period. Integrated Wealth Concepts LLC’s holdings in Crown were worth $243,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CCK. Nisa Investment Advisors LLC raised its stake in shares of Crown by 6.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the industrial products company’s stock worth $205,000 after purchasing an additional 158 shares in the last quarter. GAMMA Investing LLC increased its holdings in Crown by 110.9% in the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after buying an additional 163 shares during the last quarter. Fifth Third Bancorp raised its position in Crown by 36.1% during the second quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 176 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Crown by 2.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 9,477 shares of the industrial products company’s stock valued at $894,000 after acquiring an additional 183 shares during the last quarter. Finally, CIBC Asset Management Inc grew its position in Crown by 5.4% in the second quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock worth $303,000 after acquiring an additional 209 shares in the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CCK shares. Robert W. Baird raised 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. Royal Bank of Canada boosted their price target on Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Mizuho set a $110.00 price objective on Crown in a report on Friday, October 18th. Citigroup boosted their target price on Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Finally, Truist Financial increased their price target on Crown from $95.00 to $103.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Crown presently has a consensus rating of “Moderate Buy” and an average price target of $106.62.

Crown Trading Down 0.2 %

Shares of CCK stock opened at $87.88 on Friday. The firm has a market capitalization of $10.51 billion, a P/E ratio of 108.49, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83. Crown Holdings, Inc. has a 1 year low of $69.61 and a 1 year high of $98.46. The firm’s fifty day simple moving average is $92.45 and its 200 day simple moving average is $87.44. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19.

Crown (NYSE:CCK) last posted its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.18. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. As a group, sell-side analysts predict that Crown Holdings, Inc. will post 6.34 EPS for the current year.

Crown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.14%. Crown’s dividend payout ratio (DPR) is 123.46%.

Insiders Place Their Bets

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total value of $725,475.00. Following the sale, the chief executive officer now owns 563,678 shares of the company’s stock, valued at $54,524,572.94. The trade was a 1.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James H. Miller sold 1,006 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $95.60, for a total transaction of $96,173.60. Following the transaction, the director now directly owns 12,424 shares of the company’s stock, valued at $1,187,734.40. The trade was a 7.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,006 shares of company stock worth $2,478,049. 0.90% of the stock is currently owned by company insiders.

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.