Crown Holdings, Inc. $CCK Shares Bought by Abacus FCF Advisors LLC

Key Points

• Abacus FCF Advisors LLC increased its stake in Crown Holdings by 199.7% during the second quarter, owning approximately 60,951 shares worth $6.3 million as of the latest filing.
• Several hedge funds, including Larson Financial Group LLC and Signaturefd LLC, have significantly raised their stakes in Crown, reflecting strong institutional interest, with over 90% of the stock owned by these investors.
• Crown Holdings reported an EPS of $2.15 for the latest quarter, exceeding estimates and marking a 3.6% year-over-year revenue increase, alongside a quarterly dividend of $0.26 per share.

Abacus FCF Advisors LLC grew its stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 199.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,951 shares of the industrial products company's stock after buying an additional 40,611 shares during the period. Abacus FCF Advisors LLC owned approximately 0.05% of Crown worth $6,277,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Larson Financial Group LLC lifted its stake in Crown by 47.6% in the 1st quarter. Larson Financial Group LLC now owns 332 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 107 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Crown by 45.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 356 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 111 shares during the period. Signaturefd LLC lifted its position in shares of Crown by 161.2% during the 1st quarter. Signaturefd LLC now owns 397 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 245 shares during the period. National Pension Service lifted its position in shares of Crown by 74.4% during the 1st quarter. National Pension Service now owns 443 shares of the industrial products company's stock valued at $40,000 after acquiring an additional 189 shares during the period. Finally, Brooklyn Investment Group lifted its position in shares of Crown by 39.4% during the 1st quarter. Brooklyn Investment Group now owns 651 shares of the industrial products company's stock valued at $58,000 after acquiring an additional 184 shares during the period. Institutional investors and hedge funds own 90.93% of the company's stock.

Insider Buying and Selling

In related news, CAO Gerard H. Gifford sold 8,222 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $102.93, for a total transaction of $846,290.46. Following the completion of the transaction, the chief accounting officer 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Timothy J. Donahue sold 37,000 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $100.56, for a total transaction of $3,720,720.00. Following the completion of the sale, the chief executive officer owned 462,056 shares in the company, valued at $46,464,351.36. The trade was a 7.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,222 shares of company stock valued at $5,873,770 in the last ninety days. 0.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CCK shares. Wall Street Zen cut Crown from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Robert W. Baird raised their target price on Crown from $105.00 to $110.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Mizuho lifted their price target on Crown from $110.00 to $127.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. boosted their target price on Crown from $108.00 to $112.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Citigroup reiterated a "buy" rating on shares of Crown in a research note on Wednesday, July 23rd. Ten analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Crown has a consensus rating of "Moderate Buy" and a consensus target price of $120.67.

Crown Stock Performance

Shares of CCK traded up $0.51 during trading hours on Tuesday, reaching $94.90. 629,069 shares of the company traded hands, compared to its average volume of 1,274,222. The stock has a market capitalization of $11.04 billion, a P/E ratio of 19.94, a P/E/G ratio of 1.45 and a beta of 0.73. The company has a quick ratio of 0.69, a current ratio of 1.06 and a debt-to-equity ratio of 1.67. Crown Holdings, Inc. has a 12-month low of $75.98 and a 12-month high of $109.48. The business has a fifty day moving average price of $99.54 and a 200-day moving average price of $96.71.

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

Crown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were paid 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 21.85%.

Crown Profile

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.