130,314 Shares in Crown Holdings, Inc. $CCK Acquired by First Manhattan CO. LLC.

Key Points

• First Manhattan CO. LLC. has invested approximately $11.66 million in Crown Holdings, acquiring 130,314 shares, representing about 0.11% ownership in the company.
• Analysts have set a consensus price target of $120.67 for Crown's stock, with multiple ratings upgraded to "buy" or "strong-buy".
• Crown Holdings recently reported $2.15 earnings per share for the last quarter, exceeding estimates, and set FY 2025 guidance at 7.100-7.500 EPS.

First Manhattan CO. LLC. purchased a new position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 130,314 shares of the industrial products company's stock, valued at approximately $11,662,000. First Manhattan CO. LLC. owned 0.11% of Crown at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Larson Financial Group LLC raised its position in shares of Crown by 47.6% during the first quarter. Larson Financial Group LLC now owns 332 shares of the industrial products company's stock worth $30,000 after purchasing an additional 107 shares during the period. Nisa Investment Advisors LLC raised its position in Crown by 4.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 2,858 shares of the industrial products company's stock valued at $256,000 after buying an additional 115 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its position in Crown by 4.9% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 2,810 shares of the industrial products company's stock valued at $251,000 after buying an additional 131 shares during the last quarter. Brooklyn Investment Group raised its position in Crown by 39.4% in the 1st quarter. Brooklyn Investment Group now owns 651 shares of the industrial products company's stock valued at $58,000 after buying an additional 184 shares during the last quarter. Finally, National Pension Service raised its position in Crown by 74.4% in the 1st quarter. National Pension Service now owns 443 shares of the industrial products company's stock valued at $40,000 after buying an additional 189 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Truist Financial raised Crown from a "hold" rating to a "buy" rating and set a $118.00 target price on the stock in a research report on Friday. Robert W. Baird lifted their target price on Crown from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Loop Capital raised their price target on Crown from $129.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Citigroup restated a "buy" rating on shares of Crown in a research note on Wednesday, July 23rd. Finally, Mizuho raised their price target on Crown from $110.00 to $127.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Ten research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $120.67.

Crown Stock Performance

Shares of NYSE CCK traded up $1.93 during midday trading on Friday, hitting $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 quick ratio of 0.69, a current ratio of 1.06 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 company's 50 day moving average price is $102.14 and its 200 day moving average price is $96.07. The firm has a market capitalization of $10.96 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 1.41 and a beta of 0.73.

Crown (NYSE:CCK - Get Free Report) last issued its earnings results on Monday, July 21st. The industrial products company reported $2.15 EPS for the quarter, topping the consensus estimate of $1.86 by $0.29. Crown had a return on equity of 27.15% and a net margin of 4.64%.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 company posted $1.81 EPS. The firm'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 fiscal year.

Crown Announces Dividend

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

Insider Activity at Crown

In other news, CAO Gerard H. Gifford sold 8,222 shares of Crown stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $102.93, for a total transaction of $846,290.46. Following the completion of the transaction, the chief accounting officer directly owned 122,585 shares in the company, valued at approximately $12,617,674.05. The trade was a 6.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy J. Donahue sold 37,000 shares of Crown stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $100.56, for a total value of $3,720,720.00. Following the sale, the chief executive officer directly owned 462,056 shares of the company's stock, valued at approximately $46,464,351.36. The trade was a 7.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,222 shares of company stock valued at $5,873,770 over the last quarter. 0.90% of the stock is currently owned by corporate insiders.

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.