Crown Holdings, Inc. $CCK Shares Sold by Altrinsic Global Advisors LLC

Key Points

• Altrinsic Global Advisors LLC reduced its stake in Crown Holdings, Inc. by 5.5% during the first quarter, now owning 154,068 shares valued at approximately $13.75 million, making it the firm's 22nd largest position.
• Multiple institutional investors, including Larson Financial Group and Signaturefd LLC, significantly increased their holdings in Crown during the same quarter, indicating growing institutional interest in the stock.
• Analysts have improved their outlook on Crown Holdings, with several upgrading the stock's rating and raising target prices, suggesting a consensus target price of $120.67 and indicating strong potential for future performance.

Altrinsic Global Advisors LLC reduced its stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 5.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 154,068 shares of the industrial products company's stock after selling 8,994 shares during the quarter. Crown accounts for 0.7% of Altrinsic Global Advisors LLC's investment portfolio, making the stock its 22nd biggest holding. Altrinsic Global Advisors LLC owned about 0.13% of Crown worth $13,752,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of CCK. Jump Financial LLC purchased a new position in shares of Crown in the 4th quarter valued at approximately $243,000. NewEdge Advisors LLC grew its stake in shares of Crown by 588.0% in the 4th quarter. NewEdge Advisors LLC now owns 5,566 shares of the industrial products company's stock valued at $460,000 after purchasing an additional 4,757 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Crown by 19.9% in the 4th quarter. Marshall Wace LLP now owns 4,643 shares of the industrial products company's stock valued at $384,000 after buying an additional 769 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Crown by 218.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,166 shares of the industrial products company's stock valued at $593,000 after buying an additional 4,914 shares during the period. Finally, Stifel Financial Corp lifted its holdings in shares of Crown by 9.9% in the 4th quarter. Stifel Financial Corp now owns 21,326 shares of the industrial products company's stock valued at $1,763,000 after buying an additional 1,925 shares during the period. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Crown Trading Down 0.7%

Shares of NYSE:CCK traded down $0.72 during midday trading on Friday, reaching $99.42. The company's stock had a trading volume of 787,402 shares, compared to its average volume of 1,051,875. The firm has a market cap of $11.57 billion, a price-to-earnings ratio of 20.89, a price-to-earnings-growth ratio of 1.52 and a beta of 0.74. 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 1 year low of $75.98 and a 1 year high of $109.48. The business has a 50 day moving average price of $103.02 and a 200 day moving average price of $95.89.

Crown (NYSE:CCK - Get Free Report) last posted 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. Crown had a return on equity of 27.15% and a net margin of 4.64%.The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the previous year, the business earned $1.81 earnings per share. The firm's quarterly revenue was up 3.6% compared to the same quarter last year. Crown has set its FY 2025 guidance at 7.100-7.500 EPS. Q3 2025 guidance at 1.950-2.050 EPS. Research analysts forecast that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were given 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 1.0%. Crown's dividend payout ratio is presently 21.85%.

Insider Activity

In other news, CAO Gerard H. Gifford sold 8,222 shares of the company's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $102.93, for a total value of $846,290.46. Following the completion of the sale, the chief accounting officer owned 122,585 shares of the company's stock, valued at $12,617,674.05. This represents a 6.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy J. Donahue sold 13,000 shares of the company's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $100.52, for a total value of $1,306,760.00. Following the completion of the sale, the chief executive officer directly owned 449,056 shares of the company's stock, valued at $45,139,109.12. The trade was a 2.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,222 shares of company stock valued at $5,873,770 in the last ninety days. Company insiders own 0.90% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on CCK. Baird R W cut Crown from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Loop Capital lifted their price objective on Crown from $129.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Citigroup reaffirmed a "buy" rating on shares of Crown in a report on Wednesday, July 23rd. Truist Financial reaffirmed a "hold" rating and set a $118.00 price objective (up from $117.00) on shares of Crown in a report on Wednesday, July 23rd. Finally, Wall Street Zen raised Crown from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 17th. Nine equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $120.67.

Crown Company 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.