KLP Kapitalforvaltning AS Boosts Holdings in Crown Holdings, Inc. $CCK

Key Points

• KLP Kapitalforvaltning AS increased its holdings in Crown Holdings, Inc. by 8.4%, owning 52,782 shares worth approximately $5.44 million following a purchase of 4,100 additional shares.
• Wall Street analysts are generally optimistic, with a consensus rating of "Moderate Buy" and an average target price of $118.25 for the stock, despite some variations in analysts' price objectives.
• CEO Timothy J. Donahue sold 13,000 shares of Crown stock, reducing his stake by 2.81%, amidst a broader trend of insider selling, totaling 58,222 shares worth nearly $5.87 million in the past three months.

KLP Kapitalforvaltning AS boosted its position in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 8.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,782 shares of the industrial products company's stock after purchasing an additional 4,100 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Crown were worth $5,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CCK. Park Avenue Securities LLC purchased a new stake in Crown in the 1st quarter worth approximately $464,000. GAMMA Investing LLC lifted its stake in Crown by 110.3% in the 1st quarter. GAMMA Investing LLC now owns 1,201 shares of the industrial products company's stock worth $107,000 after purchasing an additional 630 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Crown during the 1st quarter valued at $1,724,000. Simon Quick Advisors LLC purchased a new stake in shares of Crown during the 1st quarter valued at $378,000. Finally, Pullen Investment Management LLC raised its position in shares of Crown by 96.7% during the 1st quarter. Pullen Investment Management LLC now owns 11,230 shares of the industrial products company's stock valued at $1,002,000 after buying an additional 5,521 shares in the last quarter. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CCK has been the topic of several research reports. Bank of America raised their price objective on shares of Crown from $110.00 to $117.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Baird R W cut shares of Crown from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. UBS Group lowered their price objective on shares of Crown from $130.00 to $117.00 and set a "buy" rating on the stock in a research report on Monday, October 6th. Weiss Ratings restated a "buy (b-)" rating on shares of Crown in a research report on Wednesday. Finally, Citigroup lowered their price objective on shares of Crown from $135.00 to $124.00 and set a "buy" rating on the stock in a research report on Monday, September 29th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $118.25.

Insiders Place Their Bets

In other Crown news, CEO Timothy J. Donahue sold 13,000 shares of the firm's stock in a transaction on Thursday, August 21st. The shares were 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 of the company's stock, valued at $45,139,109.12. This trade represents a 2.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Gerard H. Gifford sold 8,222 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $102.93, for a total transaction of $846,290.46. Following the completion of the sale, 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 three months, insiders sold 58,222 shares of company stock worth $5,873,770. Insiders own 0.90% of the company's stock.

Crown Price Performance

CCK stock opened at $90.83 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.06. Crown Holdings, Inc. has a 52 week low of $75.98 and a 52 week high of $109.48. The firm's fifty day moving average is $97.16 and its 200 day moving average is $97.15. The firm has a market cap of $10.57 billion, a P/E ratio of 19.08, a P/E/G ratio of 1.40 and a beta of 0.73.

Crown (NYSE:CCK - Get Free Report) last released its earnings results on Monday, July 21st. The industrial products company reported $2.15 EPS for the quarter, beating the consensus estimate of $1.86 by $0.29. Crown had a net margin of 4.64% and a return on equity of 27.15%. The company had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter last year, the firm earned $1.81 EPS. The firm's quarterly revenue was up 3.6% compared to the same quarter last year. Crown has set its FY 2025 guidance at 7.100-7.500 EPS. Q3 2025 guidance at 1.950-2.050 EPS. Research analysts predict that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, August 7th. Crown's dividend payout ratio (DPR) is 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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