Venturi Wealth Management LLC Buys Shares of 2,772 Crown Holdings, Inc. $CCK

Key Points

• Venturi Wealth Management LLC purchased 2,772 shares of Crown Holdings, Inc. valued at approximately $285,000 in the second quarter.
• Institutional investors now own 90.93% of the company's stock, with several new significant positions established during the second quarter.
• Crown Holdings, Inc. reported $2.15 earnings per share for the last quarter, surpassing the analyst consensus estimate of $1.86.

Venturi Wealth Management LLC bought a new stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 2,772 shares of the industrial products company's stock, valued at approximately $285,000.

Several other institutional investors also recently bought and sold shares of the company. KLP Kapitalforvaltning AS grew its position in Crown by 8.4% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 52,782 shares of the industrial products company's stock valued at $5,435,000 after acquiring an additional 4,100 shares in the last quarter. Belpointe Asset Management LLC acquired a new position in Crown in the 2nd quarter valued at about $265,000. OLD National Bancorp IN acquired a new position in Crown in the 2nd quarter valued at about $234,000. QRG Capital Management Inc. purchased a new position in shares of Crown in the 2nd quarter valued at about $854,000. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Crown in the 2nd quarter valued at about $46,000. 90.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Loop Capital lifted their price objective on Crown from $129.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Wall Street Zen cut Crown from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Wells Fargo & Company lifted their price objective on Crown from $101.00 to $110.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. UBS Group decreased their price objective on Crown from $130.00 to $117.00 and set a "buy" rating for the company in a research note on Monday, October 6th. Finally, Baird R W cut Crown from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Crown currently has a consensus rating of "Moderate Buy" and an average price target of $118.25.

Insider Activity at Crown

In other Crown news, CAO Gerard H. Gifford sold 8,222 shares of Crown stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $102.93, for a total transaction of $846,290.46. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Timothy J. Donahue sold 37,000 shares of Crown stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $100.56, for a total value of $3,720,720.00. Following the transaction, the chief executive officer directly owned 462,056 shares in the company, 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. In the last ninety days, insiders have sold 58,222 shares of company stock worth $5,873,770. 0.90% of the stock is currently owned by corporate insiders.

Crown Price Performance

CCK stock opened at $90.83 on Friday. The business has a 50 day moving average price of $97.16 and a 200 day moving average price of $97.15. The stock has a market cap of $10.57 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 1.40 and a beta of 0.73. Crown Holdings, Inc. has a fifty-two week low of $75.98 and a fifty-two week high of $109.48. 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 earnings results on Monday, July 21st. The industrial products company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.29. The firm had revenue of $3.15 billion during the quarter, compared to analysts' expectations of $3.10 billion. Crown had a return on equity of 27.15% and a net margin of 4.64%.The firm's revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business 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. Equities 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 declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.04 annualized dividend and a yield of 1.1%. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.