Crown Holdings, Inc. $CCK Shares Bought by Thrivent Financial for Lutherans

Key Points

• Thrivent Financial for Lutherans increased its Crown Holdings stake by 17.4% in the fourth quarter, and institutional investors now own about 90.93% of the company.
• Crown reported stronger-than-expected quarterly results, with EPS of $1.86 versus the $1.75 estimate and revenue of $3.26 billion, up 12.9% year over year.
• The company also declared a quarterly dividend of $0.35 per share and maintained a positive analyst outlook, with a consensus rating of Moderate Buy and a $120 average price target.

Thrivent Financial for Lutherans boosted its stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 17.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 980,572 shares of the industrial products company's stock after purchasing an additional 145,198 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.85% of Crown worth $100,978,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. OLD National Bancorp IN raised its position in shares of Crown by 507.7% during the fourth quarter. OLD National Bancorp IN now owns 89,549 shares of the industrial products company's stock worth $9,221,000 after purchasing an additional 74,814 shares during the period. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Crown during the third quarter worth $15,472,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its holdings in shares of Crown by 235.5% during the third quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 25,500 shares of the industrial products company's stock valued at $2,463,000 after buying an additional 17,900 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Crown by 2.2% during the fourth quarter. Nordea Investment Management AB now owns 1,666,360 shares of the industrial products company's stock valued at $171,668,000 after buying an additional 36,540 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Crown by 1,392.9% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 146,300 shares of the industrial products company's stock valued at $14,131,000 after buying an additional 136,500 shares in the last quarter. Institutional investors and hedge funds own 90.93% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Crown in a research note on Wednesday, April 1st. They issued a "buy" rating and a $124.00 target price on the stock. Jefferies Financial Group restated a "buy" rating on shares of Crown in a research note on Monday, February 23rd. Mizuho boosted their target price on Crown from $120.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday, February 5th. Wolfe Research set a $115.00 target price on Crown in a research note on Friday, February 6th. Finally, Truist Financial lowered their target price on Crown from $135.00 to $129.00 and set a "buy" rating on the stock in a research note on Wednesday, April 15th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $120.00.

Insider Buying and Selling

In related news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $106.85, for a total transaction of $801,375.00. Following the sale, the chief executive officer directly owned 451,070 shares in the company, valued at $48,196,829.50. This represents a 1.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Djalma Novaes, Jr. sold 29,734 shares of the stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $114.80, for a total value of $3,413,463.20. Following the sale, the chief operating officer owned 88,052 shares in the company, valued at approximately $10,108,369.60. This trade represents a 25.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 52,234 shares of company stock valued at $5,832,363. 0.90% of the stock is currently owned by insiders.

Crown Price Performance

Shares of NYSE:CCK opened at $99.02 on Friday. The business has a 50 day moving average price of $102.99 and a 200 day moving average price of $103.21. Crown Holdings, Inc. has a twelve month low of $89.21 and a twelve month high of $116.62. The company has a market cap of $11.07 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 1.65 and a beta of 0.65. The company has a quick ratio of 0.70, a current ratio of 1.12 and a debt-to-equity ratio of 1.67.

Crown (NYSE:CCK - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The industrial products company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.75 by $0.11. Crown had a return on equity of 26.62% and a net margin of 5.65%.The firm had revenue of $3.26 billion during the quarter, compared to analysts' expectations of $3.03 billion. During the same quarter in the prior year, the firm posted $1.67 EPS. The company's revenue for the quarter was up 12.9% on a year-over-year basis. Crown has set its FY 2026 guidance at 7.900-8.300 EPS and its Q2 2026 guidance at 2.100-2.200 EPS. Research analysts predict that Crown Holdings, Inc. will post 8.05 earnings per share for the current year.

Crown Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Thursday, May 14th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.4%. Crown's dividend payout ratio is presently 22.29%.

About Crown

Crown Holdings, Inc is a leading global supplier of rigid packaging products for consumer goods markets. The company designs, manufactures and sells metal packaging for beverage, food, household, personal care and specialty products. Its portfolio includes aluminum and steel beverage cans, steel food cans, aluminum aerosols, metal closures and ends, offering customers end-to-end solutions from design and prototyping to large-scale production.

Founded in 1919 as the Crown Cork & Seal Company, Crown has grown through strategic acquisitions and investments in advanced manufacturing technologies.

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