Crown Holdings, Inc. $CCK Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Crown Holdings, Inc. by 2.5%, resulting in ownership of 291,659 shares valued at approximately $30.72 million.
• Analysts have a consensus rating of "Moderate Buy" on Crown Holdings, with a target price averaging around $116.62, as several firms have recently adjusted their price targets.
• Crown Holdings reported a $2.15 earnings per share for the latest quarter, exceeding estimates, and set a fiscal year 2025 guidance of 7.100-7.500 EPS.

Allspring Global Investments Holdings LLC trimmed its stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 2.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 291,659 shares of the industrial products company's stock after selling 7,438 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.25% of Crown worth $30,720,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CCK. Larson Financial Group LLC lifted its position in 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 acquiring an additional 107 shares during the period. Geneos Wealth Management Inc. lifted its position in Crown by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 356 shares of the industrial products company's stock worth $32,000 after acquiring an additional 111 shares during the period. Signaturefd LLC lifted its position in Crown by 161.2% during the 1st quarter. Signaturefd LLC now owns 397 shares of the industrial products company's stock worth $35,000 after acquiring an additional 245 shares during the period. National Pension Service lifted its position in 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 acquiring an additional 189 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new stake in Crown during the 2nd quarter worth approximately $46,000. 90.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on CCK. Bank of America raised their price target on Crown from $110.00 to $117.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Truist Financial raised Crown from a "hold" rating to a "buy" rating and set a $118.00 price target for the company in a report on Friday, September 5th. Citigroup reduced their price target on Crown from $135.00 to $124.00 and set a "buy" rating for the company in a report on Monday, September 29th. Loop Capital raised their price target on Crown from $129.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company reduced their price target on Crown from $113.00 to $97.00 and set an "equal weight" rating for the company in a report on Wednesday. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $116.62.

Crown Stock Performance

Crown stock opened at $90.39 on Thursday. 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 stock has a fifty day moving average of $96.67 and a two-hundred day moving average of $97.18. The company has a market capitalization of $10.52 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 1.29 and a beta of 0.73. Crown Holdings, Inc. has a fifty-two week low of $75.98 and a fifty-two week high of $109.48.

Crown (NYSE:CCK - Get Free Report) last released its quarterly 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 company had revenue of $3.15 billion during 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%.Crown's 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. On average, analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.04 annualized dividend and a yield of 1.2%. Crown's dividend payout ratio (DPR) is presently 21.85%.

Insider Buying and Selling at Crown

In other Crown news, CEO Timothy J. Donahue sold 37,000 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $100.56, for a total transaction of $3,720,720.00. Following the completion of the transaction, the chief executive officer owned 462,056 shares of the company's stock, valued at approximately $46,464,351.36. This trade represents a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Gerard H. Gifford sold 8,222 shares of Crown 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 completion of the sale, the chief accounting officer directly 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. Insiders have sold 58,222 shares of company stock valued at $5,873,770 in the last three months. 0.90% of the stock is currently 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.

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