Crown Holdings, Inc. $CCK Shares Sold by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. sold 71,450 shares of Crown Holdings, reducing its stake by 4.6%, now holding approximately 1.27% of the company valued at $131.9 million.
• Crown Holdings reported Q2 earnings per share of $2.15, which surpassed analyst expectations by $0.29, and reflected a 3.6% increase in quarterly revenue compared to the previous year.
• Investment firm Mizuho increased its price target for Crown Holdings from $110 to $127, maintaining an "outperform" rating, contributing to a consensus rating of "Moderate Buy" among analysts.

Jacobs Levy Equity Management Inc. decreased its holdings in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 4.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,478,020 shares of the industrial products company's stock after selling 71,450 shares during the period. Jacobs Levy Equity Management Inc. owned about 1.27% of Crown worth $131,928,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CCK. Algert Global LLC increased its stake in shares of Crown by 583.7% during the fourth quarter. Algert Global LLC now owns 33,359 shares of the industrial products company's stock valued at $2,758,000 after buying an additional 28,480 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Crown by 6.8% during the fourth quarter. Ameriprise Financial Inc. now owns 251,300 shares of the industrial products company's stock valued at $20,780,000 after buying an additional 15,899 shares during the period. Bank of America Corp DE increased its stake in shares of Crown by 3.0% during the fourth quarter. Bank of America Corp DE now owns 699,493 shares of the industrial products company's stock valued at $57,841,000 after buying an additional 20,373 shares during the period. Centiva Capital LP boosted its position in Crown by 25.6% during the fourth quarter. Centiva Capital LP now owns 7,181 shares of the industrial products company's stock valued at $594,000 after purchasing an additional 1,463 shares in the last quarter. Finally, Crestline Management LP bought a new stake in Crown during the fourth quarter valued at about $265,000. Hedge funds and other institutional investors own 90.93% of the company's stock.

Insider Buying and Selling at Crown

In other news, CEO Timothy J. Donahue sold 37,000 shares of the company's stock in a transaction 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 transaction, the chief executive officer owned 462,056 shares of the company's stock, valued at $46,464,351.36. This represents a 7.41% decrease in their position. The sale 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 company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $102.93, for a total value 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. This trade represents a 6.29% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,222 shares of company stock worth $5,873,770. Corporate insiders own 0.90% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CCK. Wall Street Zen downgraded Crown from a "strong-buy" rating to a "buy" rating in a report on Friday. Loop Capital raised their price target on Crown from $129.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Wells Fargo & Company raised their price target on Crown from $101.00 to $110.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Mizuho raised their price target on Crown from $110.00 to $127.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Finally, Bank of America raised their price target on Crown from $110.00 to $117.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Ten investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Crown has an average rating of "Moderate Buy" and an average price target of $120.67.

Crown Stock Performance

NYSE:CCK traded up $1.93 during trading hours on Friday, reaching $94.20. The company had a trading volume of 1,701,454 shares, compared to its average volume of 1,091,465. Crown Holdings, Inc. has a 1-year low of $75.98 and a 1-year high of $109.48. The firm has a market cap of $10.96 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 1.44 and a beta of 0.73. The business's 50 day moving average price is $102.14 and its 200-day moving average price is $96.18. 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 announced its earnings results on Monday, July 21st. The industrial products company reported $2.15 earnings per share 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 business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the prior year, the company posted $1.81 EPS. The business's quarterly revenue was up 3.6% on a year-over-year basis. Crown has set its FY 2025 guidance at 7.100-7.500 EPS. Q3 2025 guidance at 1.950-2.050 EPS. Research analysts forecast that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Announces Dividend

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

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.