Mirae Asset Global Investments Co. Ltd. lifted its stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 1,649.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,376 shares of the industrial products company's stock after acquiring an additional 29,583 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Crown were worth $3,231,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of CCK. Bank of New York Mellon Corp raised its stake in Crown by 5.6% during the 1st quarter. Bank of New York Mellon Corp now owns 3,135,062 shares of the industrial products company's stock valued at $279,836,000 after purchasing an additional 167,252 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Crown by 3.7% in the 1st quarter. AQR Capital Management LLC now owns 1,768,476 shares of the industrial products company's stock valued at $156,988,000 after purchasing an additional 63,395 shares during the period. Invesco Ltd. boosted its holdings in Crown by 412.2% in the 1st quarter. Invesco Ltd. now owns 1,719,296 shares of the industrial products company's stock valued at $153,464,000 after purchasing an additional 1,383,624 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Crown by 5.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,637,155 shares of the industrial products company's stock valued at $146,117,000 after purchasing an additional 83,523 shares during the period. Finally, Swedbank AB boosted its holdings in Crown by 5.0% in the 2nd quarter. Swedbank AB now owns 1,550,525 shares of the industrial products company's stock valued at $159,673,000 after purchasing an additional 73,959 shares during the period. 90.93% of the stock is currently owned by institutional investors and hedge funds.
Crown Stock Performance
Shares of NYSE:CCK opened at $92.10 on Wednesday. The business's fifty day moving average price is $97.61 and its two-hundred day moving average price is $97.14. Crown Holdings, Inc. has a fifty-two week low of $75.98 and a fifty-two week high of $109.48. The stock has a market capitalization of $10.72 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 1.44 and a beta of 0.73. 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 quarterly earnings results on Monday, July 21st. The industrial products company reported $2.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.86 by $0.29. Crown had a return on equity of 27.15% and a net margin of 4.64%.The firm had revenue of $3.15 billion for the quarter, compared to analysts' expectations of $3.10 billion. During the same period in the prior year, the business posted $1.81 earnings per share. The business's 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. As a group, analysts predict that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.
Crown Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Thursday, August 7th. Crown's dividend payout ratio is 21.85%.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on the stock. Loop Capital increased their price target on shares of Crown from $129.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Robert W. Baird increased their price target on shares of Crown from $105.00 to $110.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Citigroup lowered their price objective on Crown from $135.00 to $124.00 and set a "buy" rating on the stock in a research report on Monday, September 29th. JPMorgan Chase & Co. boosted their price objective on Crown from $108.00 to $112.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Morgan Stanley boosted their price objective on Crown from $114.00 to $118.00 and gave the company an "overweight" rating in a research report on Wednesday, June 25th. Eleven 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 presently has a consensus rating of "Moderate Buy" and an average target price of $118.25.
Read Our Latest Analysis on Crown
Insider Buying and Selling at Crown
In other news, 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 transaction of $846,290.46. Following the sale, the chief accounting officer owned 122,585 shares in the company, valued at approximately $12,617,674.05. This represents a 6.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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. The trade was a 2.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,222 shares of company stock worth $5,873,770 in the last 90 days. Company insiders own 0.90% of the company's stock.
Crown Company Profile
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Free Report)
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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