Northern Trust Corp Acquires 149,339 Shares of Crown Holdings, Inc. $CCK

Key Points

• Northern Trust Corp increased its stake in Crown Holdings, Inc. by 13.7% in Q1, owning approximately 1.07% of the company, valued at $110.88 million.
• Crown reported $2.15 earnings per share (EPS) for its recent quarter, exceeding expectations, with a revenue of $3.15 billion, marking a year-over-year increase of 3.6%.
• The company announced a quarterly dividend of $0.26 per share, translating to an annualized yield of 1.0%, and has set its FY 2025 EPS guidance at 7.100-7.500.

Northern Trust Corp grew its holdings in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 13.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,242,250 shares of the industrial products company's stock after buying an additional 149,339 shares during the quarter. Northern Trust Corp owned approximately 1.07% of Crown worth $110,883,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CCK. Jump Financial LLC acquired a new stake in Crown in the fourth quarter worth about $243,000. NewEdge Advisors LLC boosted its holdings in Crown by 588.0% during the fourth quarter. NewEdge Advisors LLC now owns 5,566 shares of the industrial products company's stock worth $460,000 after buying an additional 4,757 shares during the last quarter. Marshall Wace LLP boosted its holdings in Crown by 19.9% during the fourth quarter. Marshall Wace LLP now owns 4,643 shares of the industrial products company's stock worth $384,000 after buying an additional 769 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Crown by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,553,632 shares of the industrial products company's stock worth $128,464,000 after buying an additional 12,784 shares during the last quarter. Finally, Natixis bought a new position in Crown during the fourth quarter worth about $91,000. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Robert W. Baird raised their target price on Crown from $105.00 to $110.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their price objective on Crown from $108.00 to $112.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Wall Street Zen upgraded Crown from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 17th. Citigroup reiterated a "buy" rating on shares of Crown in a report on Wednesday, July 23rd. Finally, UBS Group lifted their price objective on Crown from $125.00 to $130.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Nine investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Crown currently has a consensus rating of "Moderate Buy" and an average target price of $120.67.

Insiders Place Their Bets

In other news, CEO Timothy J. Donahue sold 37,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $100.56, for a total transaction of $3,720,720.00. Following the sale, the chief executive officer directly owned 462,056 shares of the company's stock, valued at approximately $46,464,351.36. This represents a 7.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value 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 trade represents a 6.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,222 shares of company stock worth $5,873,770. Insiders own 0.90% of the company's stock.

Crown Stock Up 0.1%

NYSE CCK traded up $0.15 during trading on Thursday, hitting $99.98. The stock had a trading volume of 495,570 shares, compared to its average volume of 1,264,537. The company has a market capitalization of $11.64 billion, a PE ratio of 21.00, a P/E/G ratio of 1.54 and a beta of 0.74. Crown Holdings, Inc. has a 12 month low of $75.98 and a 12 month high of $109.48. The company's 50-day moving average price is $103.16 and its two-hundred day moving average price is $95.69. 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 (NYSE:CCK - Get Free Report) last posted its quarterly 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. The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.10 billion. Crown had a return on equity of 27.15% and a net margin of 4.64%.The business's quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.81 EPS. 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, sell-side analysts forecast that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Announces Dividend

The company also recently disclosed 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 1.0%. The ex-dividend date of this dividend was Thursday, August 7th. Crown's dividend payout ratio is currently 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.