Graham Capital Management L.P. Sells 29,370 Shares of Crown Holdings, Inc. $CCK

Key Points

• Graham Capital Management L.P. has significantly reduced its stake in Crown Holdings, Inc. by 62.8%, selling 29,370 shares and leaving it with 17,379 shares valued at approximately $1.55 million.
• In contrast, several institutional investors, including Larson Financial Group LLC and Signaturefd LLC, have increased their stakes in Crown, with notable growth rates of 47.6% and 161.2% respectively during the first quarter.
• Crown Holdings recently reported better-than-expected quarterly earnings with an EPS of $2.15, surpassing estimates, and announced a quarterly dividend of $0.26 per share.

Graham Capital Management L.P. lowered its stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 62.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,379 shares of the industrial products company's stock after selling 29,370 shares during the period. Graham Capital Management L.P.'s holdings in Crown were worth $1,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. 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 valued at $30,000 after buying an additional 107 shares during the last quarter. Signaturefd LLC raised its position in shares of Crown by 161.2% during the first quarter. Signaturefd LLC now owns 397 shares of the industrial products company's stock valued at $35,000 after buying an additional 245 shares during the last quarter. National Pension Service grew its holdings in shares of Crown by 74.4% in the first quarter. National Pension Service now owns 443 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 189 shares in the last quarter. Brooklyn Investment Group grew its holdings in shares of Crown by 39.4% in the first quarter. Brooklyn Investment Group now owns 651 shares of the industrial products company's stock valued at $58,000 after purchasing an additional 184 shares in the last quarter. Finally, Colonial Trust Co SC grew its holdings in shares of Crown by 88.0% in the fourth quarter. Colonial Trust Co SC now owns 752 shares of the industrial products company's stock valued at $62,000 after purchasing an additional 352 shares in the last quarter. Institutional investors own 90.93% of the company's stock.

Analyst Ratings Changes

CCK has been the subject of a number of recent research reports. Wells Fargo & Company raised 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. Citigroup reissued a "buy" rating on shares of Crown in a report on Wednesday, July 23rd. JPMorgan Chase & Co. raised 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. Wall Street Zen raised shares of Crown from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 17th. Finally, Bank of America raised their target price on shares of Crown from $110.00 to $117.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Nine research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $120.67.

Insiders Place Their Bets

In other news, CEO Timothy J. Donahue sold 13,000 shares of the business's stock in a transaction on 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 completion of the sale, the chief executive officer directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Gerard H. Gifford sold 8,222 shares of the business'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 sale, the chief accounting officer directly 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 disclosure for this sale can be found here. Insiders have sold 58,222 shares of company stock valued at $5,873,770 over the last three months. Insiders own 0.90% of the company's stock.

Crown Stock Down 0.6%

NYSE CCK opened at $98.75 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 1.06 and a debt-to-equity ratio of 1.67. The company has a fifty day moving average of $102.81 and a two-hundred day moving average of $96.04. The firm has a market capitalization of $11.49 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 1.52 and a beta of 0.73. Crown Holdings, Inc. has a 52 week low of $75.98 and a 52 week high of $109.48.

Crown (NYSE:CCK - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.10 billion. Crown had a net margin of 4.64% and a return on equity of 27.15%. Crown's quarterly revenue was up 3.6% compared to the same quarter last year. During the same period 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. On average, analysts predict that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Dividend Announcement

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

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.

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