Gabelli Funds LLC Sells 2,754 Shares of Crown Holdings, Inc. $CCK

Key Points

• Gabelli Funds LLC has reduced its stake in Crown Holdings, Inc. by 2.2%, now holding 123,750 shares worth approximately $11 million.
• The company recently declared a quarterly dividend of $0.26 per share, with a current annualized yield of 1.0% and a payout ratio of 21.85%.
• Analyst reviews have resulted in a consensus rating of "Moderate Buy" for Crown's stock, with a target price averaging around $120.67.

Gabelli Funds LLC cut its position in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,750 shares of the industrial products company's stock after selling 2,754 shares during the quarter. Gabelli Funds LLC owned about 0.11% of Crown worth $11,046,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Jump Financial LLC grew its stake in shares of Crown by 2,002.3% in the first quarter. Jump Financial LLC now owns 61,786 shares of the industrial products company's stock valued at $5,515,000 after buying an additional 58,847 shares in the last quarter. Allstate Corp grew its stake in shares of Crown by 81.2% in the first quarter. Allstate Corp now owns 6,401 shares of the industrial products company's stock valued at $571,000 after buying an additional 2,869 shares in the last quarter. Compound Planning Inc. bought a new position in shares of Crown in the first quarter valued at $202,000. Integrated Investment Consultants LLC bought a new position in shares of Crown in the first quarter valued at $205,000. Finally, Candriam S.C.A. grew its stake in shares of Crown by 10.3% in the first quarter. Candriam S.C.A. now owns 189,452 shares of the industrial products company's stock valued at $16,910,000 after buying an additional 17,715 shares in the last quarter. 90.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wall Street Zen raised shares of Crown from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 17th. UBS Group lifted their price objective on shares of Crown from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Bank of America lifted 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. Truist Financial reaffirmed a "hold" rating and set a $118.00 price objective (up from $117.00) on shares of Crown in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of Crown from $101.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Nine analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.67.

Crown Price Performance

CCK stock traded down $0.72 during midday trading on Monday, reaching $99.42. The company had a trading volume of 787,402 shares, compared to its average volume of 1,026,633. The company has a market capitalization of $11.57 billion, a price-to-earnings ratio of 20.89, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. The stock has a 50 day moving average price of $103.02 and a 200-day moving average price of $95.94. Crown Holdings, Inc. has a 1-year low of $75.98 and a 1-year high of $109.48. 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 (NYSE:CCK - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The industrial products company reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $1.86 by $0.29. The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.10 billion. Crown had a return on equity of 27.15% and a net margin of 4.64%.Crown's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $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. Equities research analysts expect that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Announces Dividend

The company also recently declared 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. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Thursday, August 7th. Crown's payout ratio is 21.85%.

Insider Activity

In other news, CEO Timothy J. Donahue sold 13,000 shares of the business's 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 sale, the chief executive officer directly owned 449,056 shares in the company, valued at approximately $45,139,109.12. The trade was a 2.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 stock was sold at an average price of $102.93, for a total value of $846,290.46. Following the sale, the chief accounting officer owned 122,585 shares in the company, valued at approximately $12,617,674.05. This trade 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 worth $5,873,770. Company insiders own 0.90% of the company's stock.

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.