Crown Holdings, Inc. $CCK Shares Sold by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC reduced its stake in Crown Holdings, Inc. by 1.9%, now owning approximately 0.15% of the company, valued at about $15.8 million.
• Crown Holdings reported a better-than-expected quarterly earnings of $2.15 per share, exceeding analysts' estimates of $1.86, alongside a revenue of $3.15 billion.
• The company announced a quarterly dividend of $0.26 per share, representing an annualized yield of 1.0% and a dividend payout ratio of 21.85%.

Hsbc Holdings PLC cut its stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 1.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 177,715 shares of the industrial products company's stock after selling 3,502 shares during the quarter. Hsbc Holdings PLC owned about 0.15% of Crown worth $15,771,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CCK. Larson Financial Group LLC grew its holdings in shares of Crown by 47.6% during the 1st quarter. Larson Financial Group LLC now owns 332 shares of the industrial products company's stock worth $30,000 after purchasing an additional 107 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Crown by 4.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 2,858 shares of the industrial products company's stock worth $256,000 after purchasing an additional 115 shares during the period. Brooklyn Investment Group grew its holdings 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 worth $58,000 after purchasing an additional 184 shares during the period. National Pension Service grew its holdings 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 worth $40,000 after purchasing an additional 189 shares during the period. Finally, Parallel Advisors LLC grew its holdings in shares of Crown by 33.8% during the 1st quarter. Parallel Advisors LLC now owns 811 shares of the industrial products company's stock worth $72,000 after purchasing an additional 205 shares during the period. 90.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CCK shares. Wall Street Zen upgraded Crown from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 17th. Morgan Stanley lifted their target price on Crown from $114.00 to $118.00 and gave the company an "overweight" rating in a research report on Wednesday, June 25th. Robert W. Baird lifted their target price on Crown from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Truist Financial reaffirmed a "hold" rating and issued a $118.00 target price (up from $117.00) on shares of Crown in a research report on Wednesday, July 23rd. Finally, Citigroup reaffirmed a "buy" rating on shares of Crown in a research report on Wednesday, July 23rd. Nine equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $120.67.

Crown Stock Up 0.1%

Shares of CCK traded up $0.11 during midday trading on Thursday, hitting $99.94. The company had a trading volume of 522,753 shares, compared to its average volume of 1,264,752. The company's 50-day simple moving average is $103.16 and its 200-day simple moving average is $95.69. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.06. The firm has a market capitalization of $11.63 billion, a P/E ratio of 20.99, 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.

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

Crown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were paid a $0.26 dividend. The ex-dividend date was Thursday, August 7th. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. Crown's payout ratio is currently 21.85%.

Insider Buying and Selling

In other Crown news, CEO Timothy J. Donahue sold 13,000 shares of the business's stock in a transaction that occurred on 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 owned 449,056 shares in the company, valued at approximately $45,139,109.12. The trade was a 2.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Gerard H. Gifford sold 8,222 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief accounting officer owned 122,585 shares of the company's stock, valued at approximately $12,617,674.05. This represents a 6.29% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,222 shares of company stock valued at $5,873,770. 0.90% of the stock is owned by company insiders.

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.