Quadcap Wealth Management LLC Takes Position in Crown Holdings, Inc. $CCK

Key Points

• Quadcap Wealth Management LLC acquired 4,848 shares of Crown Holdings, Inc. valued at approximately $433,000 in the first quarter of 2023.
• Crown Holdings reported earnings of $2.15 per share for the recent quarter, exceeding estimates of $1.86, as revenue rose to $3.15 billion.
• Analysts maintain a generally positive outlook with a consensus price target of $120.67 for Crown, with multiple upgrades from various financial firms.

Quadcap Wealth Management LLC acquired a new stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 4,848 shares of the industrial products company's stock, valued at approximately $433,000.

Several other large investors have also bought and sold shares of the company. Redwood Investment Management LLC bought a new stake in Crown during the 1st quarter valued at approximately $1,312,000. Jump Financial LLC boosted its position in Crown by 2,002.3% during the 1st quarter. Jump Financial LLC now owns 61,786 shares of the industrial products company's stock valued at $5,515,000 after acquiring an additional 58,847 shares in the last quarter. Allstate Corp boosted its position in Crown by 81.2% during the 1st quarter. Allstate Corp now owns 6,401 shares of the industrial products company's stock valued at $571,000 after acquiring an additional 2,869 shares in the last quarter. Compound Planning Inc. bought a new stake in Crown during the 1st quarter valued at approximately $202,000. Finally, Integrated Investment Consultants LLC bought a new stake in Crown during the 1st quarter valued at approximately $205,000. 90.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CCK shares. Morgan Stanley lifted their target price on shares of Crown from $114.00 to $118.00 and gave the company an "overweight" rating in a report on Wednesday, June 25th. Truist Financial reiterated a "hold" rating and set a $118.00 target price (up from $117.00) on shares of Crown in a report on Wednesday, July 23rd. Bank of America lifted their target price on shares of Crown from $110.00 to $117.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Loop Capital lifted their target price on shares of Crown from $129.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Crown from $108.00 to $112.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Nine investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Crown has a consensus rating of "Moderate Buy" and a consensus target price of $120.67.

Insider Buying and Selling

In other news, CAO Gerard H. Gifford sold 8,222 shares of the business's stock in a transaction 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 sale, the chief accounting officer owned 122,585 shares of the company's stock, valued at $12,617,674.05. The trade was a 6.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Timothy J. Donahue sold 13,000 shares of the business's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $100.52, for a total transaction of $1,306,760.00. Following the sale, the chief executive officer directly owned 449,056 shares of the company's stock, valued at approximately $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 ninety days, insiders sold 58,222 shares of company stock valued at $5,873,770. 0.90% of the stock is currently owned by insiders.

Crown Stock Down 0.7%

NYSE CCK traded down $0.72 during mid-day trading on Friday, reaching $99.42. The stock had a trading volume of 787,402 shares, compared to its average volume of 1,051,875. Crown Holdings, Inc. has a 1 year low of $75.98 and a 1 year high of $109.48. The stock has a market cap of $11.57 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 1.52 and a beta of 0.74. The company has a fifty day moving average price of $103.02 and a 200 day moving average price of $95.89. 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 data 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. Crown had a net margin of 4.64% and a return on equity of 27.15%. The company had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period in the previous year, the business earned $1.81 EPS. The firm's revenue for the quarter 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. On average, research analysts expect that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Dividend Announcement

The business also recently announced 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 1.0%. The ex-dividend date of this dividend 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.