State of New Jersey Common Pension Fund D Sells 4,347 Shares of Crown Holdings, Inc. $CCK

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Crown Holdings, Inc. by 10.2%, now holding shares worth $3.43 million.
• In the first quarter, several institutional investors increased their positions in Crown, with the National Pension Service boosting its stake by 74.4%.
• Analysts are optimistic about Crown's growth, with target price increases from multiple brokerages, resulting in a consensus price target of $120.67 and an average rating of "Moderate Buy."

State of New Jersey Common Pension Fund D cut its stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 10.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,459 shares of the industrial products company's stock after selling 4,347 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Crown were worth $3,433,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Larson Financial Group LLC grew its holdings in shares of Crown by 47.6% in the first quarter. Larson Financial Group LLC now owns 332 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 107 shares in the last quarter. Signaturefd LLC boosted its position in Crown by 161.2% in the first quarter. Signaturefd LLC now owns 397 shares of the industrial products company's stock worth $35,000 after purchasing an additional 245 shares during the last quarter. National Pension Service boosted its position in Crown by 74.4% in the first quarter. National Pension Service now owns 443 shares of the industrial products company's stock worth $40,000 after purchasing an additional 189 shares during the last quarter. Colonial Trust Co SC boosted its position in Crown by 88.0% in the fourth quarter. Colonial Trust Co SC now owns 752 shares of the industrial products company's stock worth $62,000 after purchasing an additional 352 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in Crown by 33.8% in the first quarter. Parallel Advisors LLC now owns 811 shares of the industrial products company's stock worth $72,000 after purchasing an additional 205 shares during the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Crown

In other news, CAO Gerard H. Gifford sold 8,222 shares of the company's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $102.93, for a total value of $846,290.46. Following the completion of the transaction, the chief accounting officer directly owned 122,585 shares in the company, valued at approximately $12,617,674.05. This represents a 6.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy J. Donahue sold 37,000 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $100.56, for a total value of $3,720,720.00. Following the completion of the sale, the chief executive officer directly owned 462,056 shares of the company's stock, valued at approximately $46,464,351.36. This trade represents a 7.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,222 shares of company stock valued at $5,873,770 over the last quarter. Company insiders own 0.90% of the company's stock.

Crown Price Performance

NYSE:CCK traded down $0.7160 during trading hours on Monday, hitting $100.1440. 278,792 shares of the company's stock traded hands, compared to its average volume of 1,267,260. The firm has a market cap of $11.65 billion, a P/E ratio of 21.03, a P/E/G ratio of 1.54 and a beta of 0.74. Crown Holdings, Inc. has a 52 week low of $75.98 and a 52 week high of $109.48. The business's fifty day simple moving average is $103.24 and its two-hundred day simple moving average is $95.53. 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 (NYSE:CCK - Get Free Report) last posted its quarterly earnings data 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 return on equity of 27.15% and a net margin of 4.64%.The firm's quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company earned $1.81 earnings per share. 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 anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Announces Dividend

The company also recently disclosed 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 1.0%. The ex-dividend date was Thursday, August 7th. Crown's dividend payout ratio is presently 21.85%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CCK shares. Truist Financial reissued a "hold" rating and issued a $118.00 price objective (up previously from $117.00) on shares of Crown in a research report on Wednesday, July 23rd. Mizuho increased their price objective on Crown from $110.00 to $127.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Citigroup reissued a "buy" rating on shares of Crown in a report on Wednesday, July 23rd. Morgan Stanley increased their price objective on Crown from $114.00 to $118.00 and gave the company an "overweight" rating in a report on Wednesday, June 25th. Finally, Bank of America increased their price objective on Crown from $110.00 to $117.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Nine analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Crown currently has a consensus rating of "Moderate Buy" and an average target price of $120.67.

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.