Pallas Capital Advisors LLC Acquires 7,105 Shares of Crown Holdings, Inc. $CCK

Key Points

• Pallas Capital Advisors LLC has significantly increased its stake in Crown Holdings, Inc. by purchasing an additional 7,105 shares, bringing their total ownership to 14,492 shares valued at approximately $1.49 million.
• Recent insider transactions show that CAO Gerard H. Gifford and CEO Timothy J. Donahue sold shares in July and August respectively, reducing their holdings by 6.29% and 2.81%.
• Research analysts have a positive outlook on Crown Holdings, with multiple firms raising their price targets; the average consensus rating is a "Moderate Buy" with a target price of $120.67.

Pallas Capital Advisors LLC increased its stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 96.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,492 shares of the industrial products company's stock after buying an additional 7,105 shares during the period. Pallas Capital Advisors LLC's holdings in Crown were worth $1,492,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. OMNI 360 Wealth Inc. bought a new position in shares of Crown in the second quarter worth about $258,000. Kera Capital Partners Inc. increased its holdings in shares of Crown by 63.3% in the second quarter. Kera Capital Partners Inc. now owns 5,397 shares of the industrial products company's stock valued at $556,000 after purchasing an additional 2,093 shares in the last quarter. Swedbank AB increased its holdings in shares of Crown by 114.7% in the first quarter. Swedbank AB now owns 1,476,566 shares of the industrial products company's stock valued at $131,798,000 after purchasing an additional 788,818 shares in the last quarter. Howe & Rusling Inc. increased its holdings in shares of Crown by 0.7% in the first quarter. Howe & Rusling Inc. now owns 97,646 shares of the industrial products company's stock valued at $8,716,000 after purchasing an additional 692 shares in the last quarter. Finally, Inspire Investing LLC bought a new position in Crown in the 1st quarter valued at $762,000. Institutional investors and hedge funds own 90.93% of the company's stock.

Insider Buying and Selling

In other news, CAO Gerard H. Gifford sold 8,222 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer directly owned 122,585 shares of the company's stock, valued at $12,617,674.05. This trade represents a 6.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $1,306,760.00. Following the transaction, the chief executive officer owned 449,056 shares of the company's stock, 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. In the last three months, insiders sold 58,222 shares of company stock worth $5,873,770. 0.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Loop Capital increased their price objective on Crown from $129.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Citigroup reissued a "buy" rating on shares of Crown in a report on Wednesday, July 23rd. UBS Group boosted their price objective on Crown from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. lifted their price target on shares of Crown from $108.00 to $112.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Morgan Stanley lifted their price target on shares of Crown from $114.00 to $118.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 25th. Ten research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $120.67.

Crown Stock Up 0.2%

Shares of CCK stock opened at $95.24 on Friday. The firm has a fifty day moving average of $100.05 and a 200-day moving average of $96.53. The company has a quick ratio of 0.69, a current ratio of 1.06 and a debt-to-equity ratio of 1.67. Crown Holdings, Inc. has a 12-month low of $75.98 and a 12-month high of $109.48. The company has a market capitalization of $11.08 billion, a price-to-earnings ratio of 20.01, a P/E/G ratio of 1.45 and a beta of 0.73.

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 analysts' consensus estimates of $1.86 by $0.29. The firm 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%. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business 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, equities research analysts predict that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Dividend Announcement

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

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