Community Trust & Investment Co. Boosts Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Community Trust & Investment Co. boosted its stake in Crown Holdings, Inc. (NYSE:CCK) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 97,145 shares of the industrial products company’s stock after acquiring an additional 1,020 shares during the quarter. Community Trust & Investment Co. owned about 0.08% of Crown worth $9,314,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Crown by 1.5% during 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 purchasing an additional 176,639 shares in the last quarter. Sessa Capital IM L.P. grew its position in shares of 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 buying an additional 1,989,374 shares in the last quarter. William Blair Investment Management LLC raised its holdings in Crown by 2.0% in the first 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 in the last quarter. 1832 Asset Management L.P. boosted its stake in Crown by 31.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,976,500 shares of the industrial products company’s stock valued at $147,032,000 after acquiring an additional 473,000 shares during the last quarter. Finally, Clearbridge Investments LLC grew its holdings in Crown by 7.1% during the 2nd quarter. Clearbridge Investments LLC now owns 1,677,752 shares of the industrial products company’s stock worth $124,808,000 after acquiring an additional 111,589 shares in the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CCK. Loop Capital lifted their target price on Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a research report on Monday. Bank of America boosted their target price on shares of Crown from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Barclays raised their price target on shares of Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research report on Monday. Citigroup increased their price objective on shares of Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $105.00 price target on shares of Crown in a report on Tuesday, September 24th. Three 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 presently has a consensus rating of “Moderate Buy” and an average target price of $106.00.

Crown Stock Performance

CCK stock opened at $96.16 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 2.00. Crown Holdings, Inc. has a twelve month low of $69.61 and a twelve month high of $98.46. The business’s fifty day moving average is $92.07 and its 200-day moving average is $84.72. The company has a market cap of $11.61 billion, a P/E ratio of 27.71, a price-to-earnings-growth ratio of 2.19 and a beta of 0.86.

Crown (NYSE:CCK) last issued its earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.22. The firm had revenue of $3.04 billion for 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 revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.68 earnings per share. Equities research analysts forecast that Crown Holdings, Inc. will post 6.15 EPS for the current year.

Crown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Thursday, August 15th. Crown’s dividend payout ratio is currently 28.82%.

Insider Buying and Selling at Crown

In other news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Timothy J. Donahue sold 7,500 shares of the business’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 in the company, valued at approximately $50,323,381.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James H. Miller sold 1,006 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $95.60, for a total transaction of $96,173.60. Following the sale, the director now owns 12,424 shares in the company, valued at $1,187,734.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,506 shares of company stock valued at $2,116,899. Corporate insiders own 0.90% of the company’s stock.

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.