Crown Holdings, Inc. $CCK is Sessa Capital IM L.P.'s 6th Largest Position

Key Points

• Sessa Capital IM L.P. has reduced its stake in Crown Holdings by 34.0%, now owning approximately 1.73% of the company, valued at $179.3 million.
• In recent analyst reports, Morgan Stanley and others have raised their price targets for Crown Holdings, with an average target of $120.67 and a consensus rating of which includes ten "Buy" ratings.
• Crown Holdings recently reported earnings of $2.15 per share, exceeding estimates, and announced a $0.26 quarterly dividend paid to shareholders, reflecting a 1.1% yield.

Sessa Capital IM L.P. reduced its stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 34.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,008,693 shares of the industrial products company's stock after selling 1,033,681 shares during the period. Crown comprises 7.0% of Sessa Capital IM L.P.'s investment portfolio, making the stock its 6th largest position. Sessa Capital IM L.P. owned 1.73% of Crown worth $179,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of CCK. Invesco Ltd. increased its stake in Crown by 412.2% in the 1st quarter. Invesco Ltd. now owns 1,719,296 shares of the industrial products company's stock worth $153,464,000 after purchasing an additional 1,383,624 shares during the period. Nuveen LLC purchased a new position in Crown in the 1st quarter worth approximately $41,360,000. Jacobs Levy Equity Management Inc. increased its stake 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 worth $128,126,000 after purchasing an additional 279,596 shares during the period. Worldquant Millennium Advisors LLC increased its stake in Crown by 216.3% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 335,902 shares of the industrial products company's stock worth $27,776,000 after purchasing an additional 229,705 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Crown by 30.9% during the first quarter. Russell Investments Group Ltd. now owns 756,002 shares of the industrial products company's stock valued at $67,478,000 after buying an additional 178,273 shares during the period. 90.93% of the stock is owned by hedge funds and other institutional investors.

Crown Stock Performance

Shares of NYSE:CCK traded up $3.02 during midday trading on Thursday, reaching $97.57. 1,021,671 shares of the company's stock traded hands, compared to its average volume of 1,282,640. The company has a market cap of $11.36 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 1.45 and a beta of 0.73. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.06. Crown Holdings, Inc. has a one year low of $75.98 and a one year high of $109.48. The stock has a 50 day moving average of $101.50 and a 200 day moving average of $96.20.

Crown (NYSE:CCK - Get Free Report) last announced 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 firm had revenue of $3.15 billion for 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 period in the prior year, the company 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, equities research analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Thursday, August 7th. Crown's dividend payout ratio is 21.85%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CCK shares. Citigroup reissued a "buy" rating on shares of Crown in a research note on Wednesday, July 23rd. Morgan Stanley boosted their target price on Crown from $114.00 to $118.00 and gave the company an "overweight" rating in a research note on Wednesday, June 25th. Loop Capital boosted their target price on Crown from $129.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Bank of America lifted their price target on Crown from $110.00 to $117.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, Wall Street Zen lowered Crown from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 5th. Ten analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Crown currently has an average rating of "Moderate Buy" and a consensus price target of $120.67.

Insiders Place Their Bets

In related news, CEO Timothy J. Donahue sold 13,000 shares of the company's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $100.52, for a total transaction 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. This represents a 2.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Gerard H. Gifford sold 8,222 shares of the company's 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 sale, 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 58,222 shares of company stock valued at $5,873,770. 0.90% of the stock is owned by company insiders.

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.