Vestmark Advisory Solutions Inc. Sells 7,558 Shares of Crown Holdings, Inc. $CCK

Key Points

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Vestmark Advisory Solutions Inc. decreased its stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 69.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,298 shares of the industrial products company's stock after selling 7,558 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in Crown were worth $294,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Larson Financial Group LLC grew its holdings in shares of Crown by 47.6% in the 1st quarter. Larson Financial Group LLC now owns 332 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 107 shares in the last quarter. Signaturefd LLC grew its holdings in Crown by 161.2% during the first quarter. Signaturefd LLC now owns 397 shares of the industrial products company's stock worth $35,000 after purchasing an additional 245 shares during the period. National Pension Service grew its holdings in Crown by 74.4% during the first quarter. National Pension Service now owns 443 shares of the industrial products company's stock worth $40,000 after purchasing an additional 189 shares during the period. Colonial Trust Co SC grew its holdings in Crown by 88.0% during the fourth quarter. Colonial Trust Co SC now owns 752 shares of the industrial products company's stock worth $62,000 after purchasing an additional 352 shares during the period. Finally, Parallel Advisors LLC grew its holdings in Crown by 33.8% during the first quarter. Parallel Advisors LLC now owns 811 shares of the industrial products company's stock worth $72,000 after purchasing an additional 205 shares during the period. Institutional investors own 90.93% of the company's stock.

Insider Activity at Crown

In other Crown news, CEO Timothy J. Donahue sold 37,000 shares of the business's stock in a transaction that occurred 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 directly owned 462,056 shares in the company, valued at $46,464,351.36. The trade was a 7.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Gerard H. Gifford sold 8,222 shares of the business's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $102.93, for a total transaction of $846,290.46. Following the transaction, the chief accounting officer owned 122,585 shares of the company's stock, valued at approximately $12,617,674.05. This represents a 6.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,222 shares of company stock valued at $5,873,770. Company insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Mizuho lifted their price target on Crown from $110.00 to $127.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Barclays raised their price objective on shares of Crown from $109.00 to $117.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Bank of America raised their price objective on shares of Crown from $110.00 to $117.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Robert W. Baird raised their price objective 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. Finally, JPMorgan Chase & Co. raised their price objective on shares of Crown from $108.00 to $112.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Nine investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Crown has an average rating of "Moderate Buy" and an average target price of $120.67.

Crown Price Performance

Shares of NYSE CCK traded down $0.1110 during midday trading on Friday, reaching $100.8790. The company's stock had a trading volume of 1,048,905 shares, compared to its average volume of 1,065,726. 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 Holdings, Inc. has a fifty-two week low of $75.98 and a fifty-two week high of $109.48. The business's 50 day moving average price is $103.24 and its two-hundred day moving average price is $95.40. The company has a market cap of $11.74 billion, a P/E ratio of 21.19, a P/E/G ratio of 1.55 and a beta of 0.74.

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 analysts' consensus estimates 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 the consensus estimate of $3.10 billion. During the same period in the previous year, the business earned $1.81 earnings per share. The firm's quarterly 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. On average, analysts forecast that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.0%. The ex-dividend date was Thursday, August 7th. Crown's 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.