Janney Montgomery Scott LLC Reduces Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

Janney Montgomery Scott LLC reduced its stake in Crown Holdings, Inc. (NYSE:CCK) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,706 shares of the industrial products company’s stock after selling 227 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Crown were worth $931,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Sessa Capital IM L.P. increased its stake in Crown by 153.0% during 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. 1832 Asset Management L.P. acquired a new position in Crown during the 1st quarter worth $119,167,000. Metropolis Capital Ltd raised 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 buying an additional 1,062,001 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Crown by 121.7% during the 2nd quarter. AQR Capital Management LLC now owns 736,478 shares of the industrial products company’s stock worth $54,787,000 after buying an additional 404,250 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Crown in the 1st quarter worth approximately $29,981,000. 90.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total transaction of $725,475.00. Following the sale, the chief executive officer now directly owns 563,678 shares in the company, valued at $54,524,572.94. This represents a 1.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James H. Miller sold 1,006 shares of Crown stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total value of $96,173.60. Following the completion of the transaction, the director now owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. The trade was a 7.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,506 shares of company stock valued at $3,157,399 over the last quarter. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Morgan Stanley upped their target price on Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Barclays boosted their price objective on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Loop Capital raised their target price on shares of Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Truist Financial lifted their price target on Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Finally, Mizuho set a $110.00 target price on Crown in a report on Friday, October 18th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Crown currently has a consensus rating of “Moderate Buy” and an average price target of $106.62.

Crown Trading Down 0.2 %

Crown stock opened at $89.86 on Friday. Crown Holdings, Inc. has a 52 week low of $69.61 and a 52 week high of $98.46. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21. The firm has a market capitalization of $10.75 billion, a PE ratio of 110.94, a PEG ratio of 2.05 and a beta of 0.85. The business’s 50-day simple moving average is $93.58 and its 200-day simple moving average is $86.55.

Crown (NYSE:CCK) last announced 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 business 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%. Equities research analysts forecast that Crown Holdings, Inc. will post 6.34 earnings per share for the current year.

Crown Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.11%. Crown’s dividend payout ratio is currently 123.46%.

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.