Crown Holdings, Inc. $CCK Shares Sold by Metropolis Capital Ltd

Key Points

• Metropolis Capital Ltd reduced its position in Crown Holdings by 41.3% during the second quarter, selling 993,336 shares, while still holding 1,410,763 shares, valuing approximately $145 million.
• Research analysts have a consensus rating of "Moderate Buy" for Crown Holdings, with an average price target of $120.25, indicating continued confidence in the company's performance.
• Crown Holdings reported $2.15 EPS for the quarter, exceeding analysts' expectations, alongside a revenue of $3.15 billion, marking a 3.6% increase year-over-year.

Metropolis Capital Ltd trimmed its position in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 41.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,410,763 shares of the industrial products company's stock after selling 993,336 shares during the quarter. Crown comprises 4.6% of Metropolis Capital Ltd's investment portfolio, making the stock its 11th biggest position. Metropolis Capital Ltd owned 1.21% of Crown worth $145,280,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Invesco Ltd. raised its stake in shares of Crown by 412.2% in the 1st quarter. Invesco Ltd. now owns 1,719,296 shares of the industrial products company's stock valued at $153,464,000 after acquiring an additional 1,383,624 shares during the period. Swedbank AB raised its stake in shares of Crown by 114.7% in the 1st quarter. Swedbank AB now owns 1,476,566 shares of the industrial products company's stock valued at $131,798,000 after acquiring an additional 788,818 shares during the period. Nuveen LLC purchased a new stake in shares of Crown in the 1st quarter valued at approximately $41,360,000. Assenagon Asset Management S.A. raised its stake in shares of Crown by 4,180.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 307,710 shares of the industrial products company's stock valued at $31,688,000 after acquiring an additional 300,521 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Crown by 30.9% in the 1st quarter. Russell Investments Group Ltd. now owns 756,002 shares of the industrial products company's stock valued at $67,478,000 after acquiring an additional 178,273 shares during the period. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CCK shares. Bank of America boosted their price target on shares of Crown from $110.00 to $117.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Wells Fargo & Company upped their target price on shares of Crown from $101.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. Citigroup cut their target price on shares of Crown from $135.00 to $124.00 and set a "buy" rating on the stock in a research note on Monday. Mizuho upped their target price on shares of Crown from $110.00 to $127.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Finally, UBS Group upped their target price on shares of Crown from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Ten equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $120.25.

Crown Trading Up 0.2%

NYSE CCK opened at $96.79 on Thursday. The company has a quick ratio of 0.69, a current ratio of 1.06 and a debt-to-equity ratio of 1.67. Crown Holdings, Inc. has a 52 week low of $75.98 and a 52 week high of $109.48. The stock has a market capitalization of $11.26 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 1.48 and a beta of 0.73. The firm has a 50 day moving average of $98.21 and a two-hundred day moving average of $96.95.

Crown (NYSE:CCK - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The industrial products company reported $2.15 EPS for the quarter, topping the consensus estimate of $1.86 by $0.29. Crown had a net margin of 4.64% and a return on equity of 27.15%. The company had revenue of $3.15 billion during the quarter, compared to analysts' expectations of $3.10 billion. During the same quarter in the previous year, the business posted $1.81 EPS. The firm's revenue was up 3.6% on a year-over-year basis. 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, research analysts expect that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were issued a $0.26 dividend. The ex-dividend date was Thursday, August 7th. This represents a $1.04 annualized dividend and a dividend yield of 1.1%. Crown's dividend payout ratio is presently 21.85%.

Insider Buying and Selling at Crown

In other news, 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 completion of the transaction, the chief accounting officer owned 122,585 shares in the company, valued at approximately $12,617,674.05. This represents a 6.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Timothy J. Donahue sold 37,000 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were 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. The trade was a 7.41% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,222 shares of company stock valued at $5,873,770. Company insiders own 0.90% of the company's stock.

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.

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