Crown Holdings, Inc. (NYSE:CCK) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC trimmed its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 0.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,650 shares of the industrial products company’s stock after selling 1,200 shares during the period. Gabelli Funds LLC owned about 0.12% of Crown worth $12,566,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CCK. Fairfield Bush & CO. purchased a new position in shares of Crown during the 1st quarter worth approximately $143,000. US Bancorp DE increased its stake in shares of Crown by 9.6% during the 1st quarter. US Bancorp DE now owns 3,506 shares of the industrial products company’s stock worth $439,000 after purchasing an additional 308 shares in the last quarter. Cetera Advisor Networks LLC increased its stake in shares of Crown by 30.3% during the 1st quarter. Cetera Advisor Networks LLC now owns 2,866 shares of the industrial products company’s stock worth $359,000 after purchasing an additional 666 shares in the last quarter. MetLife Investment Management LLC purchased a new position in shares of Crown during the 1st quarter worth approximately $392,000. Finally, Great West Life Assurance Co. Can increased its stake in shares of Crown by 43.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 62,763 shares of the industrial products company’s stock worth $8,318,000 after purchasing an additional 19,046 shares in the last quarter. 95.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Crown

In related news, COO Gerard H. Gifford sold 9,784 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $92.24, for a total transaction of $902,476.16. Following the completion of the sale, the chief operating officer now owns 123,399 shares of the company’s stock, valued at approximately $11,382,323.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO Gerard H. Gifford sold 13,535 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $80.48, for a total value of $1,089,296.80. Following the completion of the sale, the chief operating officer now directly owns 109,864 shares of the company’s stock, valued at approximately $8,841,854.72. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Gerard H. Gifford sold 9,784 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $92.24, for a total transaction of $902,476.16. Following the completion of the sale, the chief operating officer now directly owns 123,399 shares of the company’s stock, valued at $11,382,323.76. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CCK shares. Jefferies Financial Group dropped their price objective on shares of Crown from $123.00 to $122.00 and set a “buy” rating for the company in a research note on Wednesday, October 18th. Loop Capital lifted their target price on shares of Crown from $112.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Barclays lowered their target price on shares of Crown from $110.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, October 26th. TheStreet cut shares of Crown from a “b-” rating to a “c+” rating in a research note on Wednesday, November 1st. Finally, Wells Fargo & Company lowered their target price on shares of Crown from $86.00 to $74.00 and set an “equal weight” rating for the company in a research note on Thursday, October 19th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Crown currently has an average rating of “Moderate Buy” and a consensus target price of $101.33.

Crown Price Performance

CCK opened at $83.04 on Tuesday. The company has a 50-day moving average of $83.94 and a 200-day moving average of $85.90. The company has a market capitalization of $10.02 billion, a P/E ratio of 19.63, a PEG ratio of 2.78 and a beta of 1.10. Crown Holdings, Inc. has a 1-year low of $75.61 and a 1-year high of $96.35. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.70 and a current ratio of 1.13.

Crown (NYSE:CCK) last released its earnings results on Tuesday, October 24th. The industrial products company reported $1.73 earnings per share for the quarter, hitting the consensus estimate of $1.73. Crown had a net margin of 4.17% and a return on equity of 26.84%. The company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter in the previous year, the firm earned $1.46 EPS. The company’s revenue was down 5.8% on a year-over-year basis. Equities analysts expect that Crown Holdings, Inc. will post 6.04 EPS for the current fiscal year.

Crown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Wednesday, November 8th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Tuesday, November 7th. Crown’s dividend payout ratio is presently 22.70%.

Crown Company Profile

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.