Wellington Management Group LLP Lowers Holdings in Crown Holdings, Inc. $CCK

Key Points

• Wellington Management Group LLP has reduced its stake in Crown Holdings, Inc. by 9.3%, now holding approximately 0.56% of the company, valued at around $58.3 million.
• Several analysts have raised their price targets for Crown Holdings, with Bank of America increasing it to $117 and Mizuho to $127, indicating strong potential for stock growth.
• Crown announced a quarterly dividend of $0.26, representing a 1.0% annual yield, and has a current dividend payout ratio of 21.85%.

Wellington Management Group LLP trimmed its position in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 653,433 shares of the industrial products company's stock after selling 67,090 shares during the quarter. Wellington Management Group LLP owned 0.56% of Crown worth $58,325,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of CCK. Invesco Ltd. raised its position 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 worth $153,464,000 after acquiring an additional 1,383,624 shares in the last quarter. Vulcan Value Partners LLC grew its stake in Crown by 450.5% in the fourth quarter. Vulcan Value Partners LLC now owns 823,691 shares of the industrial products company's stock worth $68,027,000 after purchasing an additional 674,072 shares during the period. Nuveen LLC bought a new position in Crown in the first quarter worth $41,360,000. AQR Capital Management LLC lifted its position in Crown by 30.6% during the fourth quarter. AQR Capital Management LLC now owns 1,705,081 shares of the industrial products company's stock valued at $140,720,000 after buying an additional 399,842 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its position in Crown by 488.4% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 361,411 shares of the industrial products company's stock valued at $29,885,000 after buying an additional 299,990 shares during the period. Hedge funds and other institutional investors own 90.93% of the company's stock.

Analyst Ratings Changes

CCK has been the topic of a number of recent research reports. Royal Bank Of Canada upped their target price on shares of Crown from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. UBS Group upped their price objective on shares of Crown from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Loop Capital lifted their target price on shares of Crown from $129.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Truist Financial restated a "hold" rating and issued a $118.00 price target (up previously from $117.00) on shares of Crown in a research note on Wednesday, July 23rd. Finally, Wall Street Zen raised Crown from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 17th. Nine analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $120.67.

Insiders Place Their Bets

In related news, CEO Timothy J. Donahue sold 37,000 shares of Crown stock in a transaction 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 transaction, the chief executive officer directly owned 462,056 shares in the company, valued at approximately $46,464,351.36. The trade was a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Gerard H. Gifford sold 8,222 shares of the business's stock in a transaction dated Friday, July 25th. The shares were 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. Over the last ninety days, insiders sold 58,222 shares of company stock worth $5,873,770. 0.90% of the stock is owned by insiders.

Crown Stock Performance

CCK stock traded up $0.61 on Tuesday, hitting $100.81. The company had a trading volume of 1,522,389 shares, compared to its average volume of 1,271,147. 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 Holdings, Inc. has a 12-month low of $75.98 and a 12-month high of $109.48. The stock has a market cap of $11.73 billion, a price-to-earnings ratio of 21.18, a P/E/G ratio of 1.54 and a beta of 0.74. The stock's 50-day simple moving average is $103.21 and its 200 day simple moving average is $95.62.

Crown (NYSE:CCK - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The industrial products company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.29. The firm had revenue of $3.15 billion for 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 company's revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $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. As a group, equities research analysts expect that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, August 7th. Crown's dividend payout ratio is currently 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.