Stifel Financial Corp Sells 545 Shares of Crown Holdings, Inc. (NYSE:CCK)

Stifel Financial Corp reduced its holdings in Crown Holdings, Inc. (NYSE:CCK) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,401 shares of the industrial products company’s stock after selling 545 shares during the quarter. Stifel Financial Corp’s holdings in Crown were worth $1,860,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Sessa Capital IM L.P. grew its stake in shares of 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 worth $244,697,000 after acquiring an additional 1,989,374 shares during the last quarter. Metropolis Capital Ltd increased its stake in Crown by 269.7% during 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 raised its holdings in Crown by 125.0% in the 3rd 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 in the last quarter. FMR LLC lifted its position in shares of Crown by 9.3% in the 3rd quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock worth $842,556,000 after acquiring an additional 749,085 shares during the period. Finally, 1832 Asset Management L.P. increased its position in shares of Crown by 31.5% during 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 purchasing an additional 473,000 shares during the period. Institutional investors own 90.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CCK. Truist Financial upped their target price on shares of Crown from $95.00 to $103.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Mizuho set a $110.00 price objective on Crown in a research note on Friday, October 18th. Citigroup increased their price target on shares of Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Morgan Stanley raised their price target on Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Finally, Royal Bank of Canada raised their price objective on shares of Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Crown has an average rating of “Moderate Buy” and a consensus target price of $106.62.

Crown Stock Up 1.0 %

Shares of CCK stock opened at $83.05 on Friday. The firm has a fifty day moving average of $91.62 and a 200-day moving average of $87.46. The company has a market capitalization of $9.94 billion, a price-to-earnings ratio of 102.53, a P/E/G ratio of 1.95 and a beta of 0.83. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. Crown Holdings, Inc. has a 12-month low of $69.61 and a 12-month high of $98.46.

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

Crown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.20%. Crown’s dividend payout ratio (DPR) is presently 123.46%.

Insider Activity

In other Crown news, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the transaction, the chief operating officer now owns 114,402 shares in the company, valued at $10,970,007.78. This represents a 8.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James H. Miller sold 1,006 shares of the business’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 transaction of $96,173.60. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,006 shares of company stock valued at $2,478,049. 0.90% of the stock is owned by 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.