Insider Selling: Crown (NYSE:CCK) CEO Sells 7,500 Shares of Stock

Crown Holdings, Inc. (NYSE:CCK) CEO Timothy Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $105.00, for a total transaction of $787,500.00. Following the completion of the sale, the chief executive officer owned 482,236 shares in the company, valued at approximately $50,634,780. The trade was a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Crown Stock Down 1.2%

Crown stock traded down $1.28 during mid-day trading on Friday, reaching $103.05. The stock had a trading volume of 21,422 shares, compared to its average volume of 1,015,222. The stock’s 50-day simple moving average is $101.36 and its 200-day simple moving average is $99.15. The firm has a market capitalization of $11.89 billion, a PE ratio of 12.76, 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 fifty-two week low of $75.98 and a fifty-two week high of $109.48.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CCK. Wells Fargo & Company raised their price objective on shares of Crown from $99.00 to $106.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Crown in a research report on Monday, December 29th. Raymond James Financial reissued an “outperform” rating and issued a $115.00 price target (up from $110.00) on shares of Crown in a report on Wednesday, October 22nd. UBS Group increased their price target on Crown from $125.00 to $126.00 and gave the company a “buy” rating in a report on Monday, January 12th. Finally, Royal Bank Of Canada increased their price target on shares of Crown from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Twelve equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Crown presently has an average rating of “Moderate Buy” and an average price target of $119.62.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Crown in the 2nd quarter valued at $184,046,000. JPMorgan Chase & Co. raised its position in shares of Crown by 226.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,474,038 shares of the industrial products company’s stock valued at $142,377,000 after buying an additional 1,022,789 shares in the last quarter. Invesco Ltd. grew its position in Crown by 58.6% during the 2nd quarter. Invesco Ltd. now owns 2,727,276 shares of the industrial products company’s stock worth $280,855,000 after acquiring an additional 1,007,980 shares during the last quarter. Swedbank AB lifted its stake in 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 during the period. Finally, AQR Capital Management LLC grew its position in shares of Crown by 36.9% in the 3rd quarter. AQR Capital Management LLC now owns 3,467,550 shares of the industrial products company’s stock worth $333,197,000 after buying an additional 933,938 shares during the period. 90.93% of the stock is currently owned by institutional investors.

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.