Insider Selling: Crown Holdings, Inc. (NYSE:CCK) COO Sells $958,900.00 in Stock

Crown Holdings, Inc. (NYSE:CCK) COO Gerard H. Gifford sold 10,000 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the transaction, the chief operating officer now directly owns 114,402 shares of the company’s stock, valued at approximately $10,970,007.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Crown Stock Performance

Shares of Crown stock opened at $93.70 on Friday. The stock has a market cap of $11.31 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 2.19 and a beta of 0.86. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 0.73. Crown Holdings, Inc. has a 1 year low of $69.61 and a 1 year high of $98.46. The firm’s 50-day moving average is $92.52 and its 200 day moving average is $85.02.

Crown Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Thursday, November 14th. Crown’s payout ratio is 28.82%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CCK shares. Barclays increased their price objective on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Citigroup lifted their price target on shares of Crown from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Robert W. Baird raised their target price on shares of Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Truist Financial boosted their price target on shares of Crown from $95.00 to $103.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Finally, Bank of America raised their price objective on shares of Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $106.62.

Hedge Funds Weigh In On Crown

A number of hedge funds have recently added to or reduced their stakes in CCK. GAMMA Investing LLC raised its stake in shares of Crown by 110.9% in the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 163 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of Crown in the first quarter worth approximately $41,000. Trivant Custom Portfolio Group LLC purchased a new position in shares of Crown during the first quarter valued at approximately $43,000. Blue Trust Inc. lifted its position in Crown by 172.6% during the second quarter. Blue Trust Inc. now owns 608 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 385 shares during the period. Finally, Fifth Third Bancorp grew its position in Crown by 36.1% in the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 176 shares during the period. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

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.