Timothy Donahue Sells 7,500 Shares of Crown (NYSE:CCK) Stock

Crown Holdings, Inc. (NYSE:CCK) CEO Timothy Donahue sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $105.00, for a total value of $787,500.00. Following the transaction, the chief executive officer owned 482,236 shares of the company’s stock, valued at approximately $50,634,780. This represents a 1.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Crown Trading Up 0.3%

Shares of CCK stock opened at $104.59 on Friday. The firm has a market capitalization of $12.06 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 1.20 and a beta of 0.75. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.76 and a current ratio of 1.16. Crown Holdings, Inc. has a 1 year low of $75.98 and a 1 year high of $109.48. The stock has a fifty day moving average of $101.50 and a two-hundred day moving average of $99.08.

Institutional Investors Weigh In On Crown

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in Crown in the 2nd quarter worth about $184,046,000. JPMorgan Chase & Co. boosted its holdings in shares of Crown by 226.7% in the third quarter. JPMorgan Chase & Co. now owns 1,474,038 shares of the industrial products company’s stock worth $142,377,000 after buying an additional 1,022,789 shares during the period. Invesco Ltd. boosted its holdings in shares of Crown by 58.6% in the second quarter. Invesco Ltd. now owns 2,727,276 shares of the industrial products company’s stock worth $280,855,000 after buying an additional 1,007,980 shares during the period. Swedbank AB increased its position in shares of Crown by 60.8% in the third quarter. Swedbank AB now owns 2,493,570 shares of the industrial products company’s stock worth $240,854,000 after acquiring an additional 943,045 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Crown by 36.9% during the third quarter. AQR Capital Management LLC now owns 3,467,550 shares of the industrial products company’s stock valued at $333,197,000 after acquiring an additional 933,938 shares during the period. 90.93% of the stock is owned by institutional investors and hedge funds.

More Crown News

Here are the key news stories impacting Crown this week:

• Neutral Sentiment: Cascades agreed to sell a corrugated packaging plant in Richmond, B.C., to Crown Paper Group for CA$65.5M — a regional consolidation in the packaging sector that may slightly alter competitive dynamics but does not directly involve Crown Holdings. Cascades sells Richmond, B.C. packaging plant to Crown Paper Group for $65.5 million
• Negative Sentiment: An insider sale: CEO Timothy J. Donahue sold 7,500 CCK shares at an average price of $105 (≈$787,500), reducing his holding by ~1.53%. Insider selling can be interpreted by some investors as a negative signal on near-term insider conviction, though the sale is small relative to his total holdings. SEC Filing: Insider Sale

Analysts Set New Price Targets

Several research firms have recently issued reports on CCK. Wells Fargo & Company increased their price objective on shares of Crown from $99.00 to $106.00 and gave the company an “equal weight” rating in a report on Tuesday, January 6th. Royal Bank Of Canada upped their target price on Crown from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Crown in a research note on Monday, December 29th. Wall Street Zen upgraded Crown from a “hold” rating to a “buy” rating in a research report on Sunday, January 18th. Finally, Mizuho raised their target price on Crown from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Twelve research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $119.62.

Crown Company Profile

Crown Holdings, Inc is a leading global supplier of rigid packaging products for consumer goods markets. The company designs, manufactures and sells metal packaging for beverage, food, household, personal care and specialty products. Its portfolio includes aluminum and steel beverage cans, steel food cans, aluminum aerosols, metal closures and ends, offering customers end-to-end solutions from design and prototyping to large-scale production.

Founded in 1919 as the Crown Cork & Seal Company, Crown has grown through strategic acquisitions and investments in advanced manufacturing technologies.