Crown Holdings, Inc. $CCK Shares Sold by Tensile Capital Management LP

Key Points

• Tensile Capital Management LP reduced its stake in Crown Holdings by 1.6%, now owning 605,430 shares, which is 6.9% of its portfolio.
• Crown Holdings reported a better-than-expected EPS of $2.15 for the last quarter, exceeding the consensus estimate by $0.29, with a 3.6% year-over-year revenue increase.
• The company recently declared a quarterly dividend of $0.26 per share, representing an annualized dividend yield of 1.1% and a payout ratio of 21.85%.

Tensile Capital Management LP cut its stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 1.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 605,430 shares of the industrial products company's stock after selling 9,644 shares during the period. Crown makes up about 6.9% of Tensile Capital Management LP's holdings, making the stock its 6th biggest position. Tensile Capital Management LP owned 0.52% of Crown worth $54,041,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Teza Capital Management LLC purchased a new stake in Crown during the first quarter valued at about $430,000. UniSuper Management Pty Ltd purchased a new stake in shares of Crown in the 1st quarter valued at approximately $205,000. Seven Six Capital Management LLC boosted its stake in Crown by 3.5% in the 1st quarter. Seven Six Capital Management LLC now owns 74,412 shares of the industrial products company's stock worth $6,642,000 after purchasing an additional 2,550 shares during the period. PharVision Advisers LLC purchased a new position in Crown during the 1st quarter worth approximately $396,000. Finally, NewEdge Advisors LLC grew its position in Crown by 6.3% during the 1st quarter. NewEdge Advisors LLC now owns 5,917 shares of the industrial products company's stock worth $528,000 after purchasing an additional 351 shares in the last quarter. Institutional investors and hedge funds own 90.93% of the company's stock.

Crown Stock Down 0.3%

CCK stock traded down $0.29 during trading hours on Friday, hitting $97.31. The company's stock had a trading volume of 345,053 shares, compared to its average volume of 1,281,532. The stock has a 50 day moving average price of $101.30 and a two-hundred day moving average price of $96.28. Crown Holdings, Inc. has a 12 month low of $75.98 and a 12 month high of $109.48. The company has a market capitalization of $11.32 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 1.45 and a beta of 0.73. 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 (NYSE:CCK - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the previous year, the business earned $1.81 EPS. Crown's quarterly 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, equities research analysts expect that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Dividend Announcement

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

Insider Buying and Selling at Crown

In related news, 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 owned 122,585 shares of the company's stock, valued at approximately $12,617,674.05. The trade was a 6.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy J. Donahue sold 13,000 shares of Crown stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $100.52, for a total transaction of $1,306,760.00. Following the completion of the sale, the chief executive officer directly owned 449,056 shares of the company's stock, valued at approximately $45,139,109.12. The trade was a 2.81% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,222 shares of company stock valued at $5,873,770. 0.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently commented on CCK. Truist Financial raised Crown from a "hold" rating to a "buy" rating and set a $118.00 target price for the company in a research report on Friday, September 5th. Wall Street Zen downgraded Crown from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. JPMorgan Chase & Co. lifted their target price on Crown from $108.00 to $112.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Citigroup reiterated a "buy" rating on shares of Crown in a report on Wednesday, July 23rd. Finally, Robert W. Baird increased their price target on shares of Crown from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Ten 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 currently has an average rating of "Moderate Buy" and a consensus target price of $120.67.

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.