Crown Holdings, Inc. $CCK Stake Lowered by Ieq Capital LLC

Key Points

• Ieq Capital LLC has reduced its holdings in Crown Holdings, Inc. by 10.4% in Q1, resulting in ownership of 52,907 shares valued at $4.7 million.
• Crown Holdings reported earnings of $2.15 per share for the last quarter, exceeding analysts' expectations and showing a 3.6% year-over-year revenue increase to $3.15 billion.
• The company recently announced a quarterly dividend of $0.26 per share, representing an annualized dividend yield of 1.0%.

Ieq Capital LLC reduced its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 10.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,907 shares of the industrial products company's stock after selling 6,109 shares during the period. Ieq Capital LLC's holdings in Crown were worth $4,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Northern Trust Corp lifted its position in Crown by 13.7% during the first quarter. Northern Trust Corp now owns 1,242,250 shares of the industrial products company's stock valued at $110,883,000 after purchasing an additional 149,339 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Crown by 155.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,793 shares of the industrial products company's stock worth $158,000 after buying an additional 1,091 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Crown by 110.3% in the first quarter. GAMMA Investing LLC now owns 1,201 shares of the industrial products company's stock valued at $107,000 after purchasing an additional 630 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Crown during the 1st quarter valued at approximately $820,000. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Crown by 4.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 2,858 shares of the industrial products company's stock valued at $256,000 after purchasing an additional 115 shares during the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

Crown Price Performance

Shares of CCK stock traded down $6.47 during mid-day trading on Wednesday, reaching $92.29. The stock had a trading volume of 1,809,594 shares, compared to its average volume of 1,267,645. Crown Holdings, Inc. has a 12-month low of $75.98 and a 12-month high of $109.48. The company has a market cap of $10.74 billion, a P/E ratio of 19.40, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. The business has a 50-day simple moving average of $102.81 and a 200 day simple moving average of $96.04. The company has a current ratio of 1.06, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67.

Crown (NYSE:CCK - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The industrial products company reported $2.15 EPS for the quarter, topping analysts' consensus estimates 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 quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.81 EPS. Crown has set its FY 2025 guidance at 7.100-7.500 EPS. Q3 2025 guidance at 1.950-2.050 EPS. On average, sell-side analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Dividend Announcement

The firm also recently announced 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. This represents a $1.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Thursday, August 7th. Crown's dividend payout ratio is 21.85%.

Analyst Ratings Changes

Several brokerages have recently commented on CCK. JPMorgan Chase & Co. upped their price objective on shares of Crown from $108.00 to $112.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Loop Capital upped their target price on shares of Crown from $129.00 to $140.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Robert W. Baird boosted their price target on shares of Crown from $105.00 to $110.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company boosted their price target on shares of Crown from $101.00 to $110.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Finally, Morgan Stanley raised their target price on Crown from $114.00 to $118.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 25th. Nine equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $120.67.

Insider Activity at Crown

In other news, CEO Timothy J. Donahue sold 37,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $100.56, for a total value 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 represents a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Gerard H. Gifford sold 8,222 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,222 shares of company stock valued at $5,873,770. Company insiders own 0.90% of the company's stock.

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.