Everence Capital Management Inc. Purchases New Stake in Crown Holdings, Inc. (NYSE:CCK)

Everence Capital Management Inc. bought a new stake in shares of Crown Holdings, Inc. (NYSE:CCK) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 4,210 shares of the industrial products company’s stock, valued at approximately $348,000.

A number of other large investors also recently added to or reduced their stakes in CCK. GAMMA Investing LLC raised its stake in shares of Crown by 110.9% during the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after buying an additional 163 shares during the last quarter. Covestor Ltd raised its position in shares of Crown by 156.5% during the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 277 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Crown in the 3rd quarter valued at $44,000. Catalyst Capital Advisors LLC bought a new position in shares of Crown in the 3rd quarter worth $48,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Crown in the third quarter valued at about $55,000. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Crown

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total transaction of $725,475.00. Following the sale, the chief executive officer now directly owns 563,678 shares of the company’s stock, valued at approximately $54,524,572.94. This represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Gerard H. Gifford sold 10,000 shares of Crown 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 completion of 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 8.04 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CCK. Robert W. Baird raised their target price on Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Royal Bank of Canada upped their target price on shares of Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Barclays lifted 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, October 21st. Citigroup upped their price objective on shares of Crown from $110.00 to $111.00 and gave the company a “buy” rating in a research report on Monday. Finally, Wells Fargo & Company dropped their price objective on Crown from $105.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Monday. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Crown currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.38.

Crown Stock Down 0.6 %

Shares of Crown stock opened at $80.02 on Tuesday. Crown Holdings, Inc. has a 52-week low of $69.61 and a 52-week high of $98.46. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21. The business’s 50 day simple moving average is $88.83 and its 200 day simple moving average is $87.77. The firm has a market cap of $9.57 billion, a PE ratio of 98.79, a P/E/G ratio of 1.95 and a beta of 0.86.

Crown (NYSE:CCK) last announced its earnings results on Thursday, October 17th. The industrial products company reported $1.99 EPS for the quarter, topping the consensus estimate of $1.81 by $0.18. Crown had a net margin of 0.83% and a return on equity of 24.57%. The business had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.07 billion. On average, analysts predict that Crown Holdings, Inc. will post 6.34 earnings per share for the current fiscal year.

Crown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.25%. Crown’s payout ratio is presently 123.46%.

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.