Generali Asset Management SPA SGR Raises Position in Crown Holdings, Inc. $CCK

Key Points

• Generali Asset Management SPA SGR has significantly increased its stake in Crown Holdings, Inc. by 245.0%, resulting in ownership of 24,957 shares worth approximately $2.57 million.
• Recent analyst ratings for Crown have been mixed, with Wells Fargo lowering their price target from $113 to $97 while Bank of America increased their target from $110 to $117, indicating varied investor sentiment.
• The company recently announced a quarterly dividend of $0.26 per share, yielding about 1.1%, which demonstrates a steady return for investors amidst growing market activity.

Generali Asset Management SPA SGR raised its holdings in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 245.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,957 shares of the industrial products company's stock after buying an additional 17,724 shares during the period. Generali Asset Management SPA SGR's holdings in Crown were worth $2,570,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC raised its stake in Crown by 19.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 633 shares of the industrial products company's stock worth $65,000 after acquiring an additional 104 shares in the last quarter. Larson Financial Group LLC raised its stake in Crown by 47.6% during the 1st quarter. Larson Financial Group LLC now owns 332 shares of the industrial products company's stock worth $30,000 after acquiring an additional 107 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Crown by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 356 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 111 shares during the period. Nisa Investment Advisors LLC increased its stake in Crown by 4.2% in the first quarter. Nisa Investment Advisors LLC now owns 2,858 shares of the industrial products company's stock valued at $256,000 after purchasing an additional 115 shares during the period. Finally, Dorsey & Whitney Trust CO LLC increased its stake in Crown by 4.9% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 2,810 shares of the industrial products company's stock valued at $251,000 after purchasing an additional 131 shares during the period. Hedge funds and other institutional investors own 90.93% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on CCK shares. Wells Fargo & Company dropped their price objective on shares of Crown from $113.00 to $97.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Baird R W lowered shares of Crown from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Bank of America lifted their price objective on shares of Crown from $110.00 to $117.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Weiss Ratings restated a "buy (b-)" rating on shares of Crown in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Crown from $108.00 to $112.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $116.62.

Insider Transactions at Crown

In related news, CEO Timothy J. Donahue sold 13,000 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $100.52, for a total transaction of $1,306,760.00. Following the sale, the chief executive officer owned 449,056 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is available at this link. 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 transaction of $846,290.46. Following the sale, the chief accounting officer directly owned 122,585 shares in the company, valued at approximately $12,617,674.05. This represents a 6.29% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,222 shares of company stock worth $5,873,770. 0.90% of the stock is owned by insiders.

Crown Stock Up 2.3%

Shares of NYSE:CCK opened at $92.50 on Friday. The company has a market cap of $10.77 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 1.29 and a beta of 0.73. The firm's 50-day simple moving average is $96.51 and its 200-day simple moving average is $97.20. 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 fifty-two week low of $75.98 and a fifty-two week high of $109.48.

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, beating the consensus estimate of $1.86 by $0.29. The business had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.10 billion. Crown had a net margin of 4.64% and a return on equity of 27.15%. The business's quarterly revenue 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. As a group, equities research analysts predict that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. Crown's payout ratio is currently 21.85%.

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.

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