Ensign Peak Advisors Inc Reduces Stake in Crown Holdings, Inc. (NYSE:CCK)

Ensign Peak Advisors Inc lowered its holdings in Crown Holdings, Inc. (NYSE:CCK) by 44.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 348,477 shares of the industrial products company’s stock after selling 278,193 shares during the quarter. Ensign Peak Advisors Inc owned about 0.29% of Crown worth $25,923,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Crown by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 12,002,342 shares of the industrial products company’s stock valued at $951,306,000 after acquiring an additional 176,639 shares during the last quarter. William Blair Investment Management LLC increased its holdings in shares of Crown by 2.0% in the 1st quarter. William Blair Investment Management LLC now owns 2,826,399 shares of the industrial products company’s stock valued at $224,020,000 after acquiring an additional 56,604 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of Crown by 28.9% in the 1st quarter. Clearbridge Investments LLC now owns 1,566,163 shares of the industrial products company’s stock valued at $124,134,000 after acquiring an additional 351,545 shares during the last quarter. 1832 Asset Management L.P. purchased a new position in shares of Crown in the 1st quarter valued at about $119,167,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Crown by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,471,750 shares of the industrial products company’s stock valued at $109,504,000 after acquiring an additional 79,502 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Insider Activity

In related news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total value of $643,875.00. Following the completion of the transaction, the chief executive officer now directly owns 586,178 shares of the company’s stock, valued at approximately $50,323,381.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Timothy J. Donahue sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total value of $1,275,450.00. Following the completion of the transaction, the chief executive officer now directly owns 593,678 shares of the company’s stock, valued at approximately $50,480,440.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total value of $643,875.00. Following the completion of the transaction, the chief executive officer now directly owns 586,178 shares of the company’s stock, valued at $50,323,381.30. The disclosure for this sale can be found here. Insiders sold 30,000 shares of company stock valued at $2,598,675 in the last three months. 0.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CCK shares. Barclays raised their price target on Crown from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Citigroup raised their price target on Crown from $94.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Truist Financial raised their price target on Crown from $88.00 to $95.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Royal Bank of Canada raised their price target on Crown from $96.00 to $105.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company raised their price target on Crown from $85.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Crown has a consensus rating of “Moderate Buy” and an average price target of $101.14.

Crown Stock Down 0.8 %

CCK opened at $93.70 on Monday. 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 50 day simple moving average of $87.43 and a 200-day simple moving average of $82.17. The stock has a market capitalization of $11.31 billion, a P/E ratio of 27.00, a P/E/G ratio of 2.13 and a beta of 0.85. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $94.46.

Crown (NYSE:CCK) last posted its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.59 by $0.22. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Crown had a return on equity of 23.96% and a net margin of 3.68%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the firm earned $1.68 EPS. On average, equities analysts anticipate that Crown Holdings, Inc. will post 6.15 earnings per share for the current fiscal year.

Crown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a $0.25 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.07%. Crown’s dividend payout ratio is currently 28.82%.

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.