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Crown Holdings, Inc. (NYSE:CCK) Shares Sold by Brinker Capital Investments LLC

Defense World · Oct 4, 2022 05:31

Brinker Capital Investments LLC cut its stake in Crown Holdings, Inc. (NYSE:CCK – Get Rating) by 1.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,626 shares of the industrial products company's stock after selling 141 shares during the period. Brinker Capital Investments LLC's holdings in Crown were worth $1,164,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Riverview Trust Co bought a new position in shares of Crown in the first quarter worth $27,000. Quent Capital LLC grew its stake in shares of Crown by 92.7% in the first quarter. Quent Capital LLC now owns 237 shares of the industrial products company's stock worth $30,000 after purchasing an additional 114 shares in the last quarter. Meeder Asset Management Inc. grew its stake in shares of Crown by 187.6% in the first quarter. Meeder Asset Management Inc. now owns 302 shares of the industrial products company's stock worth $38,000 after purchasing an additional 197 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of Crown in the first quarter worth $63,000. Finally, NuWave Investment Management LLC bought a new position in shares of Crown in the second quarter worth $66,000. 91.84% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related news, VP Christy L. Kalaus sold 500 shares of the stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $93.90, for a total value of $46,950.00. Following the completion of the sale, the vice president now directly owns 4,894 shares of the company's stock, valued at approximately $459,546.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.80% of the company's stock.

Crown Trading Up 1.3 %

Shares of NYSE CCK opened at $82.12 on Tuesday. Crown Holdings, Inc. has a 12 month low of $78.91 and a 12 month high of $130.42. The company has a market cap of $9.95 billion, a price-to-earnings ratio of -27.46, a P/E/G ratio of 2.09 and a beta of 1.15. The company has a quick ratio of 0.54, a current ratio of 0.95 and a debt-to-equity ratio of 2.50. The business has a fifty day simple moving average of $93.94 and a 200-day simple moving average of $102.14.

Crown (NYSE:CCK – Get Rating) last announced its quarterly earnings data on Wednesday, July 20th. The industrial products company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.07. The firm had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.20 billion. Crown had a positive return on equity of 40.47% and a negative net margin of 3.07%. The business's revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.14 EPS. Sell-side analysts predict that Crown Holdings, Inc. will post 7.75 EPS for the current year.

Crown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Investors of record on Thursday, August 11th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Wednesday, August 10th. Crown's dividend payout ratio is currently -29.43%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CCK. Wells Fargo & Company decreased their target price on Crown from $110.00 to $100.00 and set an "equal weight" rating for the company in a research note on Monday, July 18th. Barclays decreased their target price on Crown from $130.00 to $115.00 and set an "overweight" rating for the company in a research note on Monday. Morgan Stanley decreased their target price on Crown from $135.00 to $130.00 and set an "overweight" rating for the company in a research note on Tuesday, July 26th. Truist Financial decreased their target price on Crown from $147.00 to $130.00 and set a "buy" rating for the company in a research note on Friday, July 22nd. Finally, Robert W. Baird decreased their target price on Crown from $165.00 to $130.00 in a research note on Friday, July 22nd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $127.45.

Crown Company Profile

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Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food and beverage industries. The company also provides products for industrial products, such as steel and plastic strap consumables and equipment, paper-based protective packaging, and plastic film consumables and equipment to metals, food and beverage, construction, agricultural, corrugated, and general industries.