Swiss Life Asset Management Ltd Sells 62,387 Shares of Crown Holdings, Inc. $CCK

Key Points

• Swiss Life Asset Management cut its Crown Holdings position by 69% in the fourth quarter, selling 62,387 shares and leaving it with 28,014 shares valued at about $2.9 million.
• Crown reported strong quarterly results, posting EPS of $1.86 versus the $1.75 consensus and revenue of $3.26 billion, up 12.9% year over year.
• The company also announced a quarterly dividend of $0.35 per share, implying a 1.4% annual yield, while analysts currently maintain a consensus rating of “Moderate Buy.”

Swiss Life Asset Management Ltd trimmed its holdings in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 69.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,014 shares of the industrial products company's stock after selling 62,387 shares during the quarter. Swiss Life Asset Management Ltd's holdings in Crown were worth $2,885,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. OLD National Bancorp IN boosted its position in shares of Crown by 507.7% in the fourth quarter. OLD National Bancorp IN now owns 89,549 shares of the industrial products company's stock valued at $9,221,000 after acquiring an additional 74,814 shares during the period. AEGON ASSET MANAGEMENT UK Plc bought a new position in Crown in the third quarter worth $15,472,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lifted its position in Crown by 235.5% in the third quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 25,500 shares of the industrial products company's stock worth $2,463,000 after purchasing an additional 17,900 shares during the period. Nordea Investment Management AB lifted its position in Crown by 2.2% in the fourth quarter. Nordea Investment Management AB now owns 1,666,360 shares of the industrial products company's stock worth $171,668,000 after purchasing an additional 36,540 shares during the period. Finally, Thrivent Financial for Lutherans lifted its position in Crown by 84.2% in the third quarter. Thrivent Financial for Lutherans now owns 835,374 shares of the industrial products company's stock worth $80,689,000 after purchasing an additional 381,766 shares during the period. 90.93% of the stock is owned by institutional investors.

Insider Buying and Selling at Crown

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $106.85, for a total transaction of $801,375.00. Following the completion of the transaction, the chief executive officer directly owned 451,070 shares in the company, valued at $48,196,829.50. This represents a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Djalma Novaes, Jr. sold 29,734 shares of the firm's stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $114.80, for a total value of $3,413,463.20. Following the completion of the sale, the chief operating officer owned 88,052 shares of the company's stock, valued at approximately $10,108,369.60. This trade represents a 25.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 52,234 shares of company stock valued at $5,832,363 over the last quarter. Corporate insiders own 0.90% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on CCK. Truist Financial reduced their target price on Crown from $135.00 to $129.00 and set a "buy" rating for the company in a research report on Wednesday, April 15th. JPMorgan Chase & Co. reduced their target price on Crown from $115.00 to $107.00 and set a "neutral" rating for the company in a research report on Wednesday, April 29th. Wells Fargo & Company reduced their target price on Crown from $111.00 to $109.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 14th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Crown in a research report on Monday, February 23rd. Finally, Royal Bank Of Canada reduced their target price on Crown from $140.00 to $129.00 and set an "outperform" rating for the company in a research report on Friday, April 17th. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $120.00.

Crown Stock Performance

Crown stock opened at $99.02 on Friday. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.12 and a quick ratio of 0.70. The stock has a fifty day moving average price of $102.99 and a two-hundred day moving average price of $103.21. Crown Holdings, Inc. has a 52-week low of $89.21 and a 52-week high of $116.62. The firm has a market capitalization of $11.07 billion, a P/E ratio of 15.77, a P/E/G ratio of 1.65 and a beta of 0.65.

Crown (NYSE:CCK - Get Free Report) last released its quarterly earnings data on Monday, April 27th. The industrial products company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.11. Crown had a return on equity of 26.62% and a net margin of 5.65%.The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.03 billion. During the same period in the prior year, the company posted $1.67 earnings per share. The business's revenue for the quarter was up 12.9% compared to the same quarter last year. Crown has set its FY 2026 guidance at 7.900-8.300 EPS and its Q2 2026 guidance at 2.100-2.200 EPS. As a group, analysts anticipate that Crown Holdings, Inc. will post 8.05 EPS for the current fiscal year.

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.4%. The ex-dividend date is Thursday, May 14th. Crown's dividend payout ratio is currently 22.29%.

Crown Company Profile

Crown Holdings, Inc is a leading global supplier of rigid packaging products for consumer goods markets. The company designs, manufactures and sells metal packaging for beverage, food, household, personal care and specialty products. Its portfolio includes aluminum and steel beverage cans, steel food cans, aluminum aerosols, metal closures and ends, offering customers end-to-end solutions from design and prototyping to large-scale production.

Founded in 1919 as the Crown Cork & Seal Company, Crown has grown through strategic acquisitions and investments in advanced manufacturing technologies.

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