Maverick Capital Ltd. Makes New $533,000 Investment in Crown Holdings, Inc. $CCK

Key Points

• Maverick Capital Ltd. has acquired 5,967 shares of Crown Holdings, Inc. at an estimated value of $533,000, marking a new position in the company.
• Multiple institutional investors also increased their stakes in Crown, with Larson Financial Group LLC raising its stake by 47.6% during the first quarter.
• Crown reported $2.15 earnings per share for the last quarter, surpassing estimates and reflecting a 3.6% increase in revenue compared to the previous year.

Maverick Capital Ltd. purchased a new stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,967 shares of the industrial products company's stock, valued at approximately $533,000.

A number of other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its stake in shares of Crown by 5.6% in the 1st quarter. Bank of New York Mellon Corp now owns 3,135,062 shares of the industrial products company's stock valued at $279,836,000 after acquiring an additional 167,252 shares during the last quarter. Invesco Ltd. raised its stake in shares of Crown by 412.2% during the first quarter. Invesco Ltd. now owns 1,719,296 shares of the industrial products company's stock valued at $153,464,000 after acquiring an additional 1,383,624 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Crown by 5.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,637,155 shares of the industrial products company's stock valued at $146,117,000 after acquiring an additional 83,523 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Crown by 22.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,549,470 shares of the industrial products company's stock valued at $128,126,000 after acquiring an additional 279,596 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Crown by 13.7% during the first quarter. Northern Trust Corp now owns 1,242,250 shares of the industrial products company's stock valued at $110,883,000 after acquiring an additional 149,339 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors.

Insider Transactions at Crown

In other Crown news, CEO Timothy J. Donahue sold 37,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $100.56, for a total transaction of $3,720,720.00. Following the completion of the transaction, the chief executive officer directly owned 462,056 shares of the company's stock, valued at approximately $46,464,351.36. This represents a 7.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Gerard H. Gifford sold 8,222 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $102.93, for a total value of $846,290.46. Following the transaction, the chief accounting officer directly owned 122,585 shares of the company's stock, valued at approximately $12,617,674.05. This trade represents a 6.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,222 shares of company stock worth $5,873,770 over the last three months. 0.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. UBS Group raised their price target on shares of Crown from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Bank of America raised their price target on shares of Crown from $110.00 to $117.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. raised their price target on shares of Crown from $108.00 to $112.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Baird R W downgraded shares of Crown from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Finally, Citigroup reiterated a "buy" rating on shares of Crown in a research report on Wednesday, July 23rd. Ten research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $120.67.

Crown Stock Up 2.1%

NYSE CCK traded up $1.93 on Friday, hitting $94.20. 1,701,454 shares of the company were exchanged, compared to its average volume of 1,091,465. The company has a current ratio of 1.06, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67. The stock has a fifty day moving average of $102.14 and a 200-day moving average of $96.18. Crown Holdings, Inc. has a 12 month low of $75.98 and a 12 month high of $109.48. The company has a market cap of $10.96 billion, a PE ratio of 19.79, a PEG ratio of 1.44 and a beta of 0.73.

Crown (NYSE:CCK - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.86 by $0.29. The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.10 billion. Crown had a return on equity of 27.15% and a net margin of 4.64%.The company's quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.81 EPS. Crown has set its FY 2025 guidance at 7.100-7.500 EPS. Q3 2025 guidance at 1.950-2.050 EPS. As a group, analysts forecast that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were issued a $0.26 dividend. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.04 annualized dividend and a dividend yield of 1.1%. Crown's dividend payout ratio is currently 21.85%.

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.