Brandywine Global Investment Management LLC Lowers Stock Holdings in Crown Holdings, Inc. $CCK

Key Points

• Brandywine Global Investment Management LLC has reduced its stake in Crown Holdings, Inc. by 6.2%, selling 47,245 shares and retaining ownership of 718,107 shares valued at $64.1 million.
• Crown Holdings reported an earnings per share (EPS) of $2.15, exceeding analysts' expectations of $1.86, alongside a revenue increase of 3.6% year-over-year to $3.15 billion.
• The company declared a quarterly dividend of $0.26 per share, representing an annualized dividend of $1.04 and a yield of 1.0%, with a record date of August 7th for shareholders.

Brandywine Global Investment Management LLC reduced its stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 6.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 718,107 shares of the industrial products company's stock after selling 47,245 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.62% of Crown worth $64,098,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CCK. Bank of New York Mellon Corp raised its position 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 worth $279,836,000 after purchasing an additional 167,252 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Crown by 412.2% in the first quarter. Invesco Ltd. now owns 1,719,296 shares of the industrial products company's stock worth $153,464,000 after buying an additional 1,383,624 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Crown by 30.6% during the fourth quarter. AQR Capital Management LLC now owns 1,705,081 shares of the industrial products company's stock valued at $140,720,000 after buying an additional 399,842 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Crown by 5.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,637,155 shares of the industrial products company's stock worth $146,117,000 after acquiring an additional 83,523 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in Crown by 22.0% in the 4th 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 in the last quarter. Institutional investors own 90.93% of the company's stock.

Insider Activity at Crown

In other news, CAO Gerard H. Gifford sold 8,222 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $102.93, for a total transaction of $846,290.46. Following the transaction, the chief accounting officer owned 122,585 shares of the company's stock, valued at approximately $12,617,674.05. The trade was a 6.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.90% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CCK shares. Citigroup reaffirmed a "buy" rating on shares of Crown in a report on Wednesday, July 23rd. Baird R W lowered shares of Crown from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Morgan Stanley raised their price target on Crown from $114.00 to $118.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 25th. UBS Group upped their price objective on Crown from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Finally, Wells Fargo & Company raised their price objective on shares of Crown from $101.00 to $110.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Nine equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Crown has an average rating of "Moderate Buy" and a consensus price target of $120.67.

Crown Price Performance

CCK traded up $1.2880 during trading on Tuesday, hitting $100.1380. 599,079 shares of the company traded hands, compared to its average volume of 1,279,744. The company has a market cap of $11.65 billion, a PE ratio of 21.04, a P/E/G ratio of 1.54 and a beta of 0.74. Crown Holdings, Inc. has a 1 year low of $75.98 and a 1 year high of $109.48. 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's 50-day simple moving average is $103.22 and its two-hundred day simple moving average is $95.13.

Crown (NYSE:CCK - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The industrial products company reported $2.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.86 by $0.29. The firm had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.10 billion. Crown had a return on equity of 27.15% and a net margin of 4.64%.The business's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $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. As a group, sell-side analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, August 7th. Crown's payout ratio is presently 21.85%.

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.