Millennium Management LLC Has $37.85 Million Stock Position in Crown Holdings, Inc. $CCK

Key Points

• Millennium Management LLC reduced its stake in Crown Holdings, Inc. by 35.9%, selling 237,952 shares in the first quarter, while still holding approximately $37.85 million in shares.
• Crown Holdings recently reported earnings of $2.15 per share for the last quarter, exceeding analysts' expectations of $1.86 and highlighting a 3.6% increase in revenue compared to the prior year.
• Institutional investors own 90.93% of Crown Holdings, with notable recent increases in positions from funds like Invesco Ltd. and Bank of New York Mellon Corp.

Millennium Management LLC reduced its stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 35.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 424,053 shares of the industrial products company's stock after selling 237,952 shares during the quarter. Millennium Management LLC owned 0.36% of Crown worth $37,851,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CCK. Larson Financial Group LLC lifted its position in shares of 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 buying an additional 107 shares during the last quarter. Signaturefd LLC lifted its position in shares of 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 buying an additional 245 shares during the last quarter. National Pension Service lifted its position in shares of 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 buying an additional 189 shares during the last quarter. Brooklyn Investment Group lifted its position in shares of Crown by 39.4% during the 1st quarter. Brooklyn Investment Group now owns 651 shares of the industrial products company's stock worth $58,000 after buying an additional 184 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of Crown by 33.8% during the 1st quarter. Parallel Advisors LLC now owns 811 shares of the industrial products company's stock worth $72,000 after buying an additional 205 shares during the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Crown

In related news, CEO Timothy J. Donahue sold 37,000 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer owned 462,056 shares of the company's stock, valued at $46,464,351.36. This trade represents a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Gerard H. Gifford sold 8,222 shares of the firm'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 value of $846,290.46. Following the sale, the chief accounting officer directly owned 122,585 shares of the company's stock, valued at $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 over the last 90 days. 0.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CCK shares. Truist Financial upgraded Crown from a "hold" rating to a "buy" rating and set a $118.00 price objective for the company in a research report on Friday, September 5th. Bank of America increased their target price on Crown from $110.00 to $117.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Wall Street Zen downgraded Crown from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 5th. Loop Capital increased their target price on Crown from $129.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Citigroup reiterated a "buy" rating on shares of Crown in a research report on Wednesday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Crown currently has a consensus rating of "Moderate Buy" and an average target price of $120.67.

Crown Trading Down 1.1%

Shares of CCK traded down $1.06 during mid-day trading on Friday, reaching $96.53. 1,215,202 shares of the company were exchanged, compared to its average volume of 1,201,631. Crown Holdings, Inc. has a 52 week low of $75.98 and a 52 week high of $109.48. 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 market capitalization of $11.23 billion, a PE ratio of 20.28, a PEG ratio of 1.49 and a beta of 0.73. The business has a 50 day simple moving average of $101.07 and a two-hundred day simple moving average of $96.40.

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

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Thursday, August 7th. Crown's dividend payout ratio (DPR) is 21.85%.

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.