Algert Global LLC Sells 5,999 Shares of Crown Holdings, Inc. $CCK

Key Points

• Algert Global LLC reduced its stake in Crown Holdings, Inc. by 18.0%, now holding 27,360 shares worth approximately $2.44 million.
• Crown's recent earnings report revealed $2.15 earnings per share (EPS), surpassing estimates of $1.86, alongside revenue growth of 3.6% year-over-year.
• The company announced a quarterly dividend of $0.26 per share, reflecting a 1.0% yield and a payout ratio of 21.85%.

Algert Global LLC lessened its position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 18.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 27,360 shares of the industrial products company's stock after selling 5,999 shares during the quarter. Algert Global LLC's holdings in Crown were worth $2,442,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CCK. Raymond James Financial Inc. acquired a new stake in Crown during the 4th quarter valued at approximately $8,466,000. Jump Financial LLC acquired a new stake in Crown during the 4th quarter valued at approximately $243,000. NewEdge Advisors LLC increased its position in Crown by 588.0% during 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 period. Marshall Wace LLP grew its position in shares of Crown by 19.9% during the 4th quarter. Marshall Wace LLP now owns 4,643 shares of the industrial products company's stock worth $384,000 after buying an additional 769 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in shares of Crown by 41.1% during the 4th quarter. Canada Pension Plan Investment Board now owns 35,274 shares of the industrial products company's stock worth $2,917,000 after buying an additional 10,274 shares during the period. Institutional investors and hedge funds 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 firm'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 transaction of $846,290.46. Following the completion of the sale, the chief accounting officer owned 122,585 shares in the company, valued at $12,617,674.05. This trade represents a 6.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy J. Donahue sold 13,000 shares of the firm'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 transaction of $1,306,760.00. Following the sale, the chief executive officer owned 449,056 shares of the company's stock, valued at approximately $45,139,109.12. The trade was a 2.81% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,222 shares of company stock valued at $5,873,770. 0.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on CCK shares. Citigroup reaffirmed a "buy" rating on shares of Crown in a research report on Wednesday, July 23rd. Mizuho raised their price objective on shares of Crown from $110.00 to $127.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. 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 research report on Friday, July 18th. Royal Bank Of Canada boosted their price objective on Crown from $115.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. increased their target price on Crown from $108.00 to $112.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Nine equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $120.67.

Crown Stock Down 0.7%

NYSE:CCK traded down $0.7160 during trading hours on Monday, hitting $100.1440. 278,792 shares of the company traded hands, compared to its average volume of 1,267,260. The company has a quick ratio of 0.69, a current ratio of 1.06 and a debt-to-equity ratio of 1.67. The firm's 50-day simple moving average is $103.24 and its 200-day simple moving average is $95.53. Crown Holdings, Inc. has a one year low of $75.98 and a one year high of $109.48. The company has a market cap of $11.65 billion, a PE ratio of 21.03, a PEG ratio of 1.54 and a beta of 0.74.

Crown (NYSE:CCK - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $3.15 billion for 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 business's revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm 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. Equities analysts predict that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were paid a dividend of $0.26 per share. The ex-dividend date was Thursday, August 7th. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. Crown's dividend payout ratio (DPR) is presently 21.85%.

Crown 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.