Evergreen Capital Management LLC Makes New Investment in Crown Holdings, Inc. $CCK

Key Points

• Evergreen Capital Management acquired a new stake in Crown Holdings, purchasing 3,181 shares valued at approximately $285,000 during the 1st quarter.
• Crown Holdings is receiving positive growth forecasts, with multiple analysts raising their price objectives, including Mizuho increasing theirs from $110.00 to $127.00.
• The company declared a quarterly dividend of $0.26 per share, translating to an annual yield of 1.1%, with a dividend payout ratio of 21.85%.

Evergreen Capital Management LLC bought a new position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 3,181 shares of the industrial products company's stock, valued at approximately $285,000.

Other hedge funds have also modified their holdings of the company. Northern Trust Corp grew its position in shares of Crown by 13.7% in the 1st quarter. Northern Trust Corp now owns 1,242,250 shares of the industrial products company's stock worth $110,883,000 after buying an additional 149,339 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Crown by 155.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,793 shares of the industrial products company's stock worth $158,000 after buying an additional 1,091 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Crown by 110.3% in the 1st quarter. GAMMA Investing LLC now owns 1,201 shares of the industrial products company's stock worth $107,000 after buying an additional 630 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Crown in the 1st quarter worth approximately $820,000. Finally, Nisa Investment Advisors LLC grew its position in shares of Crown by 4.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 2,858 shares of the industrial products company's stock worth $256,000 after buying an additional 115 shares during the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

Crown Price Performance

NYSE CCK traded up $1.93 on Friday, hitting $94.20. The company had a trading volume of 1,701,454 shares, compared to its average volume of 1,054,704. The company has a market capitalization of $10.96 billion, a PE ratio of 19.79, a PEG ratio of 1.44 and a beta of 0.73. The company's fifty day moving average price is $102.14 and its 200-day moving average price is $96.13. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.06 and a quick ratio of 0.69. Crown Holdings, Inc. has a 12-month low of $75.98 and a 12-month high of $109.48.

Crown (NYSE:CCK - Get Free Report) last released its 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 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 prior year, the firm earned $1.81 earnings per share. 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. As a group, analysts predict that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Dividend Announcement

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

Insiders Place Their Bets

In other news, CAO Gerard H. Gifford sold 8,222 shares of the company's stock in a transaction 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 completion of the sale, the chief accounting officer owned 122,585 shares of the company's stock, valued at $12,617,674.05. This represents a 6.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy J. Donahue sold 13,000 shares of Crown stock in a transaction dated 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 transaction, the chief executive officer directly owned 449,056 shares in the company, valued at $45,139,109.12. This trade represents a 2.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,222 shares of company stock valued at $5,873,770 in the last ninety days. Insiders own 0.90% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on CCK. Citigroup reaffirmed a "buy" rating on shares of Crown in a research report on Wednesday, July 23rd. Baird R W lowered shares of Crown from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Wells Fargo & Company lifted their target price on shares of Crown from $101.00 to $110.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Morgan Stanley lifted their target price on shares of Crown from $114.00 to $118.00 and gave the company an "overweight" rating in a report on Wednesday, June 25th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Crown from $108.00 to $112.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently 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.