DnB Asset Management AS Has $47.48 Million Stake in Crown Holdings, Inc. $CCK

Key Points

• DnB Asset Management AS increased its stake in Crown Holdings, Inc. by 2.0%, owning 531,961 shares valued at $47.48 million after acquiring an additional 10,430 shares.
• Wall Street analysts have given Crown a consensus rating of "Moderate Buy" with an average price target of $120.67, following recent price target upgrades from firms like Morgan Stanley and JPMorgan Chase.
• Crown Holdings announced a quarterly dividend of $0.26 per share, representing an annualized dividend of $1.04 and a yield of 1.1% after the recent payout.

DnB Asset Management AS raised its position in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 2.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 531,961 shares of the industrial products company's stock after purchasing an additional 10,430 shares during the quarter. DnB Asset Management AS owned about 0.46% of Crown worth $47,483,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in CCK. Algert Global LLC increased its stake in shares of Crown by 583.7% in the fourth quarter. Algert Global LLC now owns 33,359 shares of the industrial products company's stock valued at $2,758,000 after purchasing an additional 28,480 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Crown by 6.8% in the fourth quarter. Ameriprise Financial Inc. now owns 251,300 shares of the industrial products company's stock valued at $20,780,000 after purchasing an additional 15,899 shares during the period. Bank of America Corp DE increased its stake in shares of Crown by 3.0% in the fourth quarter. Bank of America Corp DE now owns 699,493 shares of the industrial products company's stock valued at $57,841,000 after purchasing an additional 20,373 shares during the period. Bridgefront Capital LLC increased its stake in shares of Crown by 145.1% in the fourth quarter. Bridgefront Capital LLC now owns 5,240 shares of the industrial products company's stock valued at $433,000 after purchasing an additional 3,102 shares during the period. Finally, Centiva Capital LP increased its stake in shares of Crown by 25.6% in the fourth quarter. Centiva Capital LP now owns 7,181 shares of the industrial products company's stock valued at $594,000 after purchasing an additional 1,463 shares during the period. Institutional investors and hedge funds own 90.93% of the company's stock.

Insider Buying and Selling

In related news, CAO Gerard H. Gifford sold 8,222 shares of the firm'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 value of $846,290.46. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Timothy J. Donahue sold 13,000 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $100.52, for a total transaction of $1,306,760.00. Following the completion of the transaction, the chief executive officer directly owned 449,056 shares of the company's stock, valued at $45,139,109.12. This represents a 2.81% 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 currently owned by insiders.

Crown Price Performance

NYSE:CCK traded up $1.93 during trading hours on Friday, reaching $94.20. 1,701,454 shares of the company's stock were exchanged, compared to its average volume of 1,054,704. 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 12 month low of $75.98 and a 12 month high of $109.48. The company has a quick ratio of 0.69, a current ratio of 1.06 and a debt-to-equity ratio of 1.67. The business's 50-day simple moving average is $102.14 and its two-hundred day simple moving average is $96.13.

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

Crown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors 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 1.1%. The ex-dividend date was Thursday, August 7th. Crown's dividend payout ratio (DPR) is presently 21.85%.

Analyst Upgrades and Downgrades

CCK has been the topic of several analyst reports. UBS Group raised their price target on shares of Crown from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Wells Fargo & Company raised their price objective on shares of Crown from $101.00 to $110.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Loop Capital raised their price objective on shares of Crown from $129.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Mizuho raised their price objective on shares of Crown from $110.00 to $127.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Finally, Truist Financial upgraded shares of Crown from a "hold" rating to a "buy" rating and set a $118.00 price objective on the stock in a research note on Friday. Ten analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $120.67.

About Crown

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.