Gateway Investment Advisers LLC Cuts Stock Position in Crown Holdings, Inc. $CCK

Key Points

• Gateway Investment Advisers LLC reduced its holdings in Crown Holdings, Inc. by 33.7%, selling 17,693 shares in the second quarter.
• Crown Holdings reported a $2.15 EPS for the most recent quarter, exceeding estimates and showcasing a 3.6% year-over-year revenue growth.
• Several hedge funds increased their positions in Crown, with Invesco Ltd. raising its stake by 412.2% in the first quarter.

Gateway Investment Advisers LLC reduced its stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 33.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,870 shares of the industrial products company's stock after selling 17,693 shares during the quarter. Gateway Investment Advisers LLC's holdings in Crown were worth $3,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CCK. Invesco Ltd. raised its stake in shares of Crown by 412.2% during the first quarter. Invesco Ltd. now owns 1,719,296 shares of the industrial products company's stock worth $153,464,000 after acquiring an additional 1,383,624 shares in the last quarter. Swedbank AB boosted its holdings in shares of Crown by 114.7% during the 1st quarter. Swedbank AB now owns 1,476,566 shares of the industrial products company's stock valued at $131,798,000 after buying an additional 788,818 shares in the last quarter. Nuveen LLC bought a new stake in shares of Crown during the 1st quarter valued at $41,360,000. Worldquant Millennium Advisors LLC boosted its holdings in shares of Crown by 216.3% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 335,902 shares of the industrial products company's stock valued at $27,776,000 after buying an additional 229,705 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Crown by 30.9% during the 1st quarter. Russell Investments Group Ltd. now owns 756,002 shares of the industrial products company's stock valued at $67,478,000 after buying an additional 178,273 shares in the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CCK has been the subject of a number of recent analyst reports. Citigroup reissued a "buy" rating on shares of Crown in a research report on Wednesday, July 23rd. Truist Financial upgraded Crown from a "hold" rating to a "buy" rating and set a $118.00 price target for the company in a research note on Friday, September 5th. Mizuho boosted 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. Wells Fargo & Company boosted their price objective on Crown from $101.00 to $110.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Finally, Wall Street Zen lowered shares of Crown from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Ten analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Crown has an average rating of "Moderate Buy" and an average price target of $120.67.

Crown Trading Down 0.6%

CCK traded down $0.58 during trading on Friday, reaching $94.68. The company had a trading volume of 1,471,775 shares, compared to its average volume of 1,280,719. The stock has a market cap of $11.02 billion, a P/E ratio of 19.89, a PEG ratio of 1.45 and a beta of 0.73. The business has a 50 day simple moving average of $100.05 and a 200-day simple moving average of $96.53. Crown Holdings, Inc. has a 52 week low of $75.98 and a 52 week 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.

Crown (NYSE:CCK - Get Free Report) last issued its quarterly 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. The company 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 was up 3.6% on a year-over-year basis. During the same period last year, the company 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. On average, equities analysts anticipate 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. Shareholders of record on Thursday, August 7th were paid a $0.26 dividend. The ex-dividend date was Thursday, August 7th. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. Crown's dividend payout ratio (DPR) is presently 21.85%.

Insiders Place Their Bets

In other Crown news, CEO Timothy J. Donahue sold 13,000 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $100.52, for a total value of $1,306,760.00. Following the sale, the chief executive officer 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Gerard H. Gifford sold 8,222 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $102.93, for a total value of $846,290.46. Following the completion of the sale, the chief accounting officer 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 disclosure for this sale can be found here. In the last quarter, insiders sold 58,222 shares of company stock worth $5,873,770. Insiders own 0.90% of the company's stock.

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.