Marshall Wace LLP Sells 6,155 Shares of Crown Holdings, Inc. (NYSE:CCK)

Marshall Wace LLP lowered its stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 54.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,211 shares of the industrial products company's stock after selling 6,155 shares during the quarter. Marshall Wace LLP's holdings in Crown were worth $388,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in CCK. Rise Advisors LLC acquired a new position in Crown in the first quarter worth $27,000. Mather Group LLC. acquired a new position in Crown in the first quarter worth $32,000. Quarry LP boosted its holdings in Crown by 190.3% in the fourth quarter. Quarry LP now owns 421 shares of the industrial products company's stock worth $39,000 after purchasing an additional 276 shares during the period. EntryPoint Capital LLC acquired a new position in Crown in the first quarter worth $41,000. Finally, Trivant Custom Portfolio Group LLC acquired a new position in Crown in the first quarter worth $43,000. Institutional investors and hedge funds own 90.93% of the company's stock.

Crown Price Performance

Crown stock traded up $1.19 during midday trading on Friday, hitting $92.79. The company's stock had a trading volume of 2,133,045 shares, compared to its average volume of 1,130,649. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 2.00. The stock's 50-day moving average price is $90.76 and its 200-day moving average price is $83.81. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $96.74. The company has a market capitalization of $11.19 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 2.19 and a beta of 0.86.

Crown (NYSE:CCK - Get Free Report) last issued 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. Crown had a net margin of 3.68% and a return on equity of 23.96%. The firm had revenue of $3.04 billion for the quarter, compared to analysts' expectations of $3.06 billion. During the same period in the previous year, the business earned $1.68 earnings per share. Crown's revenue for the quarter was down 2.2% compared to the same quarter last year. Analysts anticipate that Crown Holdings, Inc. will post 6.15 earnings per share for the current fiscal year.

Crown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Thursday, August 15th. Crown's dividend payout ratio is presently 27.70%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $105.00 price objective on shares of Crown in a report on Tuesday, September 24th. Truist Financial raised their target price on Crown from $88.00 to $95.00 and gave the company a "hold" rating in a research note on Wednesday, July 24th. Morgan Stanley raised their target price on Crown from $92.00 to $105.00 and gave the company an "equal weight" rating in a research note on Wednesday, September 4th. Barclays raised their target price on Crown from $95.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, July 24th. Finally, StockNews.com cut Crown from a "buy" rating to a "hold" rating in a research note on Monday, September 9th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $101.86.

Insiders Place Their Bets

In other news, CEO Timothy J. Donahue sold 15,000 shares of the business'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 transaction of $1,275,450.00. Following the sale, the chief executive officer now owns 593,678 shares in the company, valued at $50,480,440.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction dated Wednesday, August 7th. The stock was 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 $50,323,381.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Timothy J. Donahue sold 15,000 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now owns 593,678 shares in the company, valued at $50,480,440.34. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,506 shares of company stock worth $3,392,349 over the last ninety days. 0.90% of the stock is currently owned by company insiders.

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.