PDT Partners LLC Sells 2,773 Shares of Crown Holdings, Inc. $CCK

Key Points

• PDT Partners LLC reduced its ownership of Crown Holdings, Inc. by 9.0%, now holding 28,140 shares worth approximately $2.51 million.
• CEO Timothy J. Donahue sold 37,000 shares at an average price of $100.56, decreasing his ownership by 7.41%.
• Crown Holdings reported a significant increase in earnings, with $2.15 per share for the last quarter, exceeding analysts' expectations of $1.86.

PDT Partners LLC decreased its position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 9.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,140 shares of the industrial products company's stock after selling 2,773 shares during the quarter. PDT Partners LLC's holdings in Crown were worth $2,512,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. First Manhattan CO. LLC. bought a new position in shares of Crown in the first quarter worth about $11,662,000. Maverick Capital Ltd. bought a new position in shares of Crown in the first quarter worth about $533,000. Focus Partners Advisor Solutions LLC bought a new position in shares of Crown in the first quarter worth about $251,000. Royal Bank of Canada lifted its holdings in shares of Crown by 24.1% in the first quarter. Royal Bank of Canada now owns 48,920 shares of the industrial products company's stock worth $4,367,000 after acquiring an additional 9,497 shares during the last quarter. Finally, Quarry LP lifted its holdings in shares of Crown by 189.9% in the first quarter. Quarry LP now owns 1,545 shares of the industrial products company's stock worth $138,000 after acquiring an additional 1,012 shares during the last quarter. Institutional investors own 90.93% of the company's stock.

Insiders Place Their Bets

In related news, CAO Gerard H. Gifford sold 8,222 shares of Crown stock in a transaction dated Friday, July 25th. The stock was 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 owned 122,585 shares of the company's stock, valued at approximately $12,617,674.05. This trade represents a 6.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy J. Donahue sold 37,000 shares of Crown stock in a transaction dated 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 sale, the chief executive officer directly 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,222 shares of company stock worth $5,873,770. 0.90% of the stock is owned by company insiders.

Crown Trading Up 2.1%

Shares of Crown stock traded up $1.93 on Friday, reaching $94.20. 1,701,454 shares of the company's stock were exchanged, compared to its average volume of 1,091,465. The company has a market capitalization of $10.96 billion, a P/E ratio of 19.79, a price-to-earnings-growth ratio of 1.44 and a beta of 0.73. Crown Holdings, Inc. has a 52 week low of $75.98 and a 52 week high of $109.48. The firm's 50-day moving average is $102.14 and its two-hundred day moving average is $96.18. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.06.

Crown (NYSE:CCK - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $3.15 billion for the quarter, compared to analysts' expectations of $3.10 billion. During the same period in the prior year, the business earned $1.81 EPS. The company's revenue for the quarter 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. Sell-side analysts predict that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were issued a $0.26 dividend. 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 currently 21.85%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Crown from $108.00 to $112.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Baird R W downgraded shares of Crown from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Morgan Stanley increased their target price on shares of Crown from $114.00 to $118.00 and gave the company an "overweight" rating in a research report on Wednesday, June 25th. Wall Street Zen downgraded shares of Crown from a "strong-buy" rating to a "buy" rating in a research report on Friday. Finally, UBS Group increased their target price on shares of Crown from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Ten investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Crown presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.67.

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.