DekaBank Deutsche Girozentrale Sells 977 Shares of Crown Holdings, Inc. (NYSE:CCK)

Posted by Defense World Staff on Oct 15th, 2023

DekaBank Deutsche Girozentrale decreased its holdings in shares of Crown Holdings, Inc. (NYSE:CCK – Free Report) by 6.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,535 shares of the industrial products company’s stock after selling 977 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Crown were worth $1,174,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. AE Wealth Management LLC grew its stake in shares of Crown by 3.5% during the first quarter. AE Wealth Management LLC now owns 5,561 shares of the industrial products company’s stock valued at $460,000 after buying an additional 186 shares during the last quarter. Mariner LLC grew its stake in Crown by 0.7% in the fourth quarter. Mariner LLC now owns 26,867 shares of the industrial products company’s stock worth $2,209,000 after purchasing an additional 192 shares in the last quarter. Picton Mahoney Asset Management grew its stake in Crown by 10.0% in the first quarter. Picton Mahoney Asset Management now owns 2,138 shares of the industrial products company’s stock worth $177,000 after purchasing an additional 195 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in Crown by 3.0% in the first quarter. Daiwa Securities Group Inc. now owns 6,772 shares of the industrial products company’s stock worth $560,000 after purchasing an additional 200 shares in the last quarter. Finally, Colony Group LLC grew its stake in Crown by 3.0% in the first quarter. Colony Group LLC now owns 6,798 shares of the industrial products company’s stock worth $562,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 95.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CCK shares. Bank of America dropped their price objective on Crown from $106.00 to $101.00 in a research note on Monday, July 10th. Barclays increased their price objective on Crown from $95.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 25th. Citigroup dropped their price objective on Crown from $114.00 to $106.00 and set a “buy” rating on the stock in a research note on Tuesday, October 10th. Wells Fargo & Company increased their target price on Crown from $80.00 to $86.00 in a research report on Wednesday, July 26th. Finally, Loop Capital increased their target price on Crown from $112.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Crown has an average rating of “Moderate Buy” and a consensus target price of $102.88.

Read Our Latest Research Report on CCK

Crown Stock Performance

Shares of CCK opened at $79.36 on Friday. Crown Holdings, Inc. has a 12 month low of $66.00 and a 12 month high of $96.35. The stock has a fifty day moving average price of $88.37 and a 200-day moving average price of $85.77. The company has a current ratio of 1.30, a quick ratio of 0.76 and a debt-to-equity ratio of 2.57. The firm has a market cap of $9.57 billion, a PE ratio of 20.04, a P/E/G ratio of 2.71 and a beta of 1.10.

Crown (NYSE:CCK – Get Free Report) last issued its quarterly earnings data on Monday, July 24th. The industrial products company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.65 by $0.03. Crown had a return on equity of 27.45% and a net margin of 3.84%. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same quarter in the prior year, the business posted $2.10 EPS. The business’s revenue for the quarter was down 11.4% compared to the same quarter last year. Equities research analysts predict that Crown Holdings, Inc. will post 6.19 earnings per share for the current fiscal year.

Crown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Thursday, August 10th were paid a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $0.96 dividend on an annualized basis and a yield of 1.21%. Crown’s dividend payout ratio (DPR) is 24.24%.

Insider Buying and Selling

In related news, VP Christy L. Kalaus sold 1,914 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $90.67, for a total value of $173,542.38. Following the completion of the transaction, the vice president now owns 7,500 shares in the company, valued at approximately $680,025. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Christy L. Kalaus sold 1,914 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $90.67, for a total value of $173,542.38. Following the completion of the transaction, the vice president now owns 7,500 shares in the company, valued at approximately $680,025. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Gerard H. Gifford sold 9,784 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $92.24, for a total value of $902,476.16. Following the completion of the transaction, the chief operating officer now owns 123,399 shares of the company’s stock, valued at approximately $11,382,323.76. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

About Crown

(Free Report)

Crown Holdings, Inc, together with its subsidiaries, supplies rigid packaging products in Pennsylvania and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The Americas Beverage segment manufactures recyclable aluminum beverage cans and ends, glass bottles, steel crowns, and aluminum caps.