Raymond James Financial Inc. Has $12.52 Million Stock Position in Crown Holdings, Inc. $CCK

Key Points

• Raymond James Financial Inc. boosted its holdings in Crown Holdings, Inc. by acquiring an additional 37,882 shares, increasing its stake by 37.0% to a total of 140,262 shares worth approximately $12.5 million.
• Insiders at Crown Holdings sold a total of 58,222 shares amounting to nearly $5.9 million in the last quarter, with significant transactions from the CAO and CEO reducing their ownership percentages.
• Crown Holdings reported a quarterly earnings per share (EPS) of $2.15, exceeding analyst estimates, and set FY 2025 guidance between 7.100-7.500 EPS, alongside a recently announced quarterly dividend of $0.26 per share.

Raymond James Financial Inc. grew its position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 37.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 140,262 shares of the industrial products company's stock after buying an additional 37,882 shares during the quarter. Raymond James Financial Inc. owned approximately 0.12% of Crown worth $12,521,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CCK. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Crown by 155.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,793 shares of the industrial products company's stock worth $158,000 after acquiring an additional 1,091 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Crown by 110.3% during the first 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 during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of Crown in the first quarter valued at about $820,000. Nisa Investment Advisors LLC lifted its position in Crown by 4.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 2,858 shares of the industrial products company's stock worth $256,000 after buying an additional 115 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its position in Crown by 1.6% during the 1st quarter. State of Alaska Department of Revenue now owns 13,695 shares of the industrial products company's stock worth $1,222,000 after buying an additional 215 shares in the last quarter. Institutional investors and hedge funds own 90.93% of the company's stock.

Crown Trading Down 7.1%

NYSE:CCK traded down $7.00 during trading hours on Wednesday, hitting $91.76. The stock had a trading volume of 1,456,525 shares, compared to its average volume of 1,265,945. The business's 50 day moving average is $102.81 and its 200-day moving average is $96.04. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.06. The company has a market cap of $10.68 billion, a price-to-earnings ratio of 19.26, a P/E/G ratio of 1.52 and a beta of 0.73. Crown Holdings, Inc. has a one year low of $75.98 and a one year high of $109.48.

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 (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.29. The company 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 firm's revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous 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. Sell-side analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were paid a $0.26 dividend. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. Crown's payout ratio is presently 21.85%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CCK shares. 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. Robert W. Baird boosted their price objective on shares of Crown from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. UBS Group increased their price objective on Crown from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Baird R W cut Crown from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Finally, Wells Fargo & Company upped their price target on Crown from $101.00 to $110.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, Crown has a consensus rating of "Moderate Buy" and a consensus target price of $120.67.

Insider Activity at Crown

In other Crown news, CAO Gerard H. Gifford sold 8,222 shares of the business's stock in a transaction that occurred 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 owned 122,585 shares in the company, valued at approximately $12,617,674.05. The trade was a 6.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction, the chief executive officer owned 462,056 shares of the company's stock, valued at $46,464,351.36. The trade was a 7.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,222 shares of company stock valued at $5,873,770 in the last quarter. Corporate insiders own 0.90% of the company's stock.

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.