Public Employees Retirement Association of Colorado Sells 158 Shares of Crown Holdings, Inc. (NYSE:CCK)

Public Employees Retirement Association of Colorado lessened its holdings in Crown Holdings, Inc. (NYSE:CCK) by 1.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,773 shares of the industrial products company’s stock after selling 158 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Crown were worth $950,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Mutual of America Capital Management LLC grew its holdings in shares of Crown by 10.3% during the first quarter. Mutual of America Capital Management LLC now owns 153,739 shares of the industrial products company’s stock worth $12,185,000 after purchasing an additional 14,362 shares during the last quarter. Vanguard Group Inc. lifted its stake in Crown by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 11,825,703 shares of the industrial products company’s stock valued at $1,089,029,000 after buying an additional 173,460 shares during the period. Grand Jean Capital Management Inc. lifted its stake in Crown by 28.8% in the fourth quarter. Grand Jean Capital Management Inc. now owns 140,384 shares of the industrial products company’s stock valued at $12,928,000 after buying an additional 31,401 shares during the period. Empowered Funds LLC acquired a new position in Crown in the first quarter valued at approximately $6,854,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Crown by 21.0% during the first quarter. Russell Investments Group Ltd. now owns 341,216 shares of the industrial products company’s stock valued at $27,045,000 after acquiring an additional 59,267 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.

Analyst Upgrades and Downgrades

CCK has been the subject of several recent research reports. StockNews.com downgraded Crown from a “buy” rating to a “hold” rating in a report on Monday, September 9th. Loop Capital boosted their price objective on Crown from $106.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Barclays boosted their price objective on Crown from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Citigroup boosted their price objective on Crown from $94.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Bank of America boosted their price objective on Crown from $98.00 to $102.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Four 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.14.

Crown Stock Up 0.3 %

Shares of NYSE:CCK opened at $95.72 on Wednesday. The company has a market capitalization of $11.56 billion, a PE ratio of 27.59, a price-to-earnings-growth ratio of 2.13 and a beta of 0.85. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 0.73. The business has a fifty day moving average price of $88.19 and a two-hundred day moving average price of $82.42. Crown Holdings, Inc. has a 1 year low of $69.61 and a 1 year high of $96.36.

Crown (NYSE:CCK) last announced its quarterly earnings data on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.22. The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.06 billion. Crown had a return on equity of 23.96% and a net margin of 3.68%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.68 EPS. Analysts forecast that Crown Holdings, Inc. will post 6.15 earnings per share for the current year.

Crown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.04%. Crown’s dividend payout ratio is presently 28.82%.

Insider Activity

In other news, CEO Timothy J. Donahue sold 15,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the transaction, the chief executive officer now owns 593,678 shares of the company’s stock, valued at approximately $50,480,440.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Timothy J. Donahue sold 15,000 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the sale, the chief executive officer now owns 593,678 shares of the company’s stock, valued at approximately $50,480,440.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James H. Miller sold 1,006 shares of the stock in a transaction dated Monday, September 23rd. The stock was 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 in the company, valued at approximately $1,187,734.40. The disclosure for this sale can be found here. Insiders have sold 31,006 shares of company stock valued at $2,694,849 in the last 90 days. Insiders own 0.90% of the company’s stock.

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.