QRG Capital Management Inc. Sells 5,827 Shares of Crown Holdings, Inc. $CCK

QRG Capital Management Inc. decreased its position in Crown Holdings, Inc. (NYSE:CCK) by 70.3% during the 3rd quarter, Holdings Channel reports. The firm owned 2,464 shares of the industrial products company’s stock after selling 5,827 shares during the quarter. QRG Capital Management Inc.’s holdings in Crown were worth $238,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CCK. State Street Corp boosted its position in Crown by 1.6% in the second quarter. State Street Corp now owns 4,421,691 shares of the industrial products company’s stock valued at $455,346,000 after buying an additional 71,355 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Crown by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,300,662 shares of the industrial products company’s stock worth $339,902,000 after acquiring an additional 165,600 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. AQR Capital Management LLC increased its holdings in Crown by 43.3% during the 2nd quarter. AQR Capital Management LLC now owns 2,533,612 shares of the industrial products company’s stock valued at $260,835,000 after purchasing an additional 765,136 shares in the last quarter. Finally, Swedbank AB raised its position in Crown by 60.8% in the 3rd quarter. Swedbank AB now owns 2,493,570 shares of the industrial products company’s stock valued at $240,854,000 after purchasing an additional 943,045 shares during the last quarter. 90.93% of the stock is owned by institutional investors.

Crown Stock Performance

Crown stock opened at $104.17 on Friday. The company has a market cap of $12.02 billion, a PE ratio of 12.89, a PEG ratio of 1.20 and a beta of 0.75. The company has a current ratio of 1.16, a quick ratio of 0.76 and a debt-to-equity ratio of 1.65. Crown Holdings, Inc. has a 1 year low of $75.98 and a 1 year high of $109.48. The company’s 50-day moving average is $100.65 and its two-hundred day moving average is $99.18.

Insider Activity at Crown

In other Crown news, CEO Timothy J. Donahue sold 29,024 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $105.00, for a total value of $3,047,520.00. Following the transaction, the chief executive officer directly owned 411,556 shares of the company’s stock, valued at approximately $43,213,380. This trade represents a 6.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Djalma Novaes, Jr. sold 19,754 shares of Crown stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $101.02, for a total transaction of $1,995,549.08. Following the sale, the chief operating officer directly owned 96,841 shares of the company’s stock, valued at $9,782,877.82. This represents a 16.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 57,254 shares of company stock worth $5,933,134 over the last 90 days. 0.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CCK has been the topic of several research analyst reports. Royal Bank Of Canada increased their target price on Crown from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. UBS Group increased their price objective on shares of Crown from $125.00 to $126.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Wall Street Zen raised shares of Crown from a “hold” rating to a “buy” rating in a research note on Sunday, January 18th. Truist Financial increased their price target on shares of Crown from $126.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Crown in a report on Monday, December 29th. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $119.62.

Crown 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.