Raymond James & Associates Reduces Holdings in Crown Holdings, Inc. (NYSE:CCK)

Raymond James & Associates trimmed its position in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 59.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,084 shares of the industrial products company's stock after selling 148,268 shares during the quarter. Raymond James & Associates owned about 0.08% of Crown worth $7,371,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new position in Crown in the 4th quarter worth approximately $1,925,000. Federated Hermes Inc. boosted its position in shares of Crown by 2.1% during the fourth quarter. Federated Hermes Inc. now owns 14,533 shares of the industrial products company's stock worth $1,338,000 after acquiring an additional 296 shares during the last quarter. CWM LLC grew its stake in Crown by 28.3% during the fourth quarter. CWM LLC now owns 1,627 shares of the industrial products company's stock valued at $150,000 after acquiring an additional 359 shares in the last quarter. Atria Wealth Solutions Inc. bought a new stake in Crown in the 4th quarter valued at $233,000. Finally, Retirement Systems of Alabama lifted its stake in Crown by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 151,103 shares of the industrial products company's stock worth $13,915,000 after purchasing an additional 460 shares in the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Crown

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the firm's stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total transaction of $643,875.00. Following the transaction, the chief executive officer now owns 586,178 shares of the company's stock, valued at approximately $50,323,381.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Crown news, CEO Timothy J. Donahue sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total value of $1,275,450.00. Following the completion of the sale, the chief executive officer now directly owns 593,678 shares in the company, valued at $50,480,440.34. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the company's stock in a transaction 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 transaction, the chief executive officer now directly owns 586,178 shares in the company, valued at $50,323,381.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,500 shares of company stock valued at $2,665,695. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CCK shares. UBS Group reduced their target price on Crown from $112.00 to $91.00 and set a "buy" rating on the stock in a report on Wednesday, July 17th. Royal Bank of Canada lifted their price objective on Crown from $96.00 to $105.00 and gave the stock an "outperform" rating in a research note on Friday, July 26th. Wells Fargo & Company increased their target price on Crown from $85.00 to $88.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price target on shares of Crown from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 1st. Finally, Citigroup increased their price objective on shares of Crown from $94.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $100.21.

Crown Trading Down 0.4 %

Shares of CCK stock traded down $0.37 on Wednesday, reaching $89.30. 1,033,317 shares of the company's stock were exchanged, compared to its average volume of 1,135,091. The company's fifty day simple moving average is $81.60 and its 200 day simple moving average is $80.13. The stock has a market capitalization of $10.78 billion, a PE ratio of 25.73, a P/E/G ratio of 2.09 and a beta of 0.85. The company has a current ratio of 1.05, a quick ratio of 0.73 and a debt-to-equity ratio of 2.00. Crown Holdings, Inc. has a 52 week low of $69.61 and a 52 week high of $94.49.

Crown (NYSE:CCK - Get Free Report) last posted its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.59 by $0.22. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.06 billion. Crown had a net margin of 3.68% and a return on equity of 23.96%. The firm's revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.68 EPS. As a group, analysts forecast that Crown Holdings, Inc. will post 6.15 EPS for the current year.

Crown Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Thursday, August 15th. Crown's dividend payout ratio (DPR) is presently 28.82%.

Crown 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.