Brown Brothers Harriman & Co. Sells 7,275 Shares of Crown Holdings, Inc. (NYSE:CCK)

Brown Brothers Harriman & Co. trimmed its position in Crown Holdings, Inc. (NYSE:CCK) by 2.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 280,386 shares of the industrial products company’s stock after selling 7,275 shares during the quarter. Brown Brothers Harriman & Co. owned 0.23% of Crown worth $26,883,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. increased its holdings in Crown by 7.8% during the third quarter. Victory Capital Management Inc. now owns 5,676,902 shares of the industrial products company’s stock valued at $544,301,000 after buying an additional 412,973 shares during the period. Sessa Capital IM L.P. increased its holdings in shares of Crown by 153.0% in the 2nd quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock valued at $244,697,000 after acquiring an additional 1,989,374 shares during the period. 1832 Asset Management L.P. raised its position in shares of Crown by 31.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,976,500 shares of the industrial products company’s stock worth $147,032,000 after acquiring an additional 473,000 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of Crown by 7.1% in 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. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Crown by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,471,750 shares of the industrial products company’s stock worth $109,504,000 after purchasing an additional 79,502 shares during the last quarter. Institutional investors own 90.93% of the company’s stock.

Analysts Set New Price Targets

CCK has been the subject of a number of recent research reports. Morgan Stanley boosted their target price on shares of Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Wells Fargo & Company boosted their price objective on shares of Crown from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Mizuho set a $110.00 target price on shares of Crown in a research report on Friday, October 18th. Truist Financial lifted their price target on shares of Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Finally, Citigroup increased their price objective on Crown from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $106.62.

Crown Stock Down 0.1 %

Crown stock opened at $92.70 on Monday. Crown Holdings, Inc. has a fifty-two week low of $69.61 and a fifty-two week high of $98.46. The company has a market cap of $11.09 billion, a PE ratio of 114.59, a PEG ratio of 2.06 and a beta of 0.85. 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 $93.59 and its two-hundred day simple moving average is $86.82.

Crown (NYSE:CCK) last issued its quarterly earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share 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 company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.07 billion. Equities analysts anticipate that Crown Holdings, Inc. will post 6.34 EPS for the current year.

Crown Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.08%. Crown’s dividend payout ratio is presently 123.46%.

Insider Buying and Selling at Crown

In other Crown news, Director James H. Miller sold 1,006 shares of the business’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 value of $96,173.60. Following the completion of the transaction, the director now directly owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. The trade was a 7.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $90.58, for a total transaction of $679,350.00. Following the sale, the chief executive officer now directly owns 578,678 shares in the company, valued at $52,416,653.24. The trade was a 1.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,506 shares of company stock valued at $3,157,399. 0.90% of the stock is owned by insiders.

About Crown

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.