Voya Investment Management LLC Lowers Stock Position in Crown Holdings, Inc. $CCK

Key Points

• Voya Investment Management LLC reduced its stake in Crown Holdings, Inc. by 4.4% during the first quarter, now holding approximately $16.59 million in stock.
• Crown Holdings reported a quarterly earnings per share (EPS) of $2.15, surpassing the consensus estimate of $1.86, and announced a dividend of $0.26 per share.
• Institutional investors own 90.93% of Crown's stock, indicating a strong interest from large investment firms.

Voya Investment Management LLC lessened its holdings in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 4.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 185,911 shares of the industrial products company's stock after selling 8,655 shares during the period. Voya Investment Management LLC owned about 0.16% of Crown worth $16,594,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CCK. Larson Financial Group LLC lifted its stake in Crown by 47.6% in the 1st quarter. Larson Financial Group LLC now owns 332 shares of the industrial products company's stock worth $30,000 after purchasing an additional 107 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Crown by 45.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 356 shares of the industrial products company's stock worth $32,000 after acquiring an additional 111 shares during the last quarter. Signaturefd LLC lifted its holdings 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 buying an additional 245 shares during the period. National Pension Service boosted its stake in Crown by 74.4% during the first quarter. National Pension Service now owns 443 shares of the industrial products company's stock worth $40,000 after acquiring an additional 189 shares in the last quarter. Finally, Brooklyn Investment Group raised its holdings in Crown by 39.4% in the first quarter. Brooklyn Investment Group now owns 651 shares of the industrial products company's stock worth $58,000 after buying an additional 184 shares during the last quarter. 90.93% of the stock is owned by institutional investors.

Crown Stock Down 0.6%

NYSE CCK traded down $0.58 during trading on Friday, reaching $94.68. 1,471,775 shares of the company's stock traded hands, compared to its average volume of 1,253,003. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.06 and a quick ratio of 0.69. The firm has a market cap of $11.02 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 1.46 and a beta of 0.73. The company's 50 day simple moving average is $99.80 and its two-hundred day simple moving average is $96.59. Crown Holdings, Inc. has a 12-month low of $75.98 and a 12-month high of $109.48.

Crown (NYSE:CCK - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The industrial products company reported $2.15 earnings per share for the quarter, beating 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 business had revenue of $3.15 billion for the quarter, compared to analysts' expectations of $3.10 billion. During the same period last year, the business earned $1.81 EPS. The company's revenue was up 3.6% compared to the same quarter last year. Crown has set its FY 2025 guidance at 7.100-7.500 EPS. Q3 2025 guidance at 1.950-2.050 EPS. As a group, sell-side analysts forecast that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal 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 dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, August 7th. Crown's payout ratio is currently 21.85%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CCK. Morgan Stanley upped 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. Loop Capital increased their target price on shares of Crown from $129.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Truist Financial raised shares of Crown from a "hold" rating to a "buy" rating and set a $118.00 target price on the stock in a research note on Friday, September 5th. Robert W. Baird increased their target price on shares of Crown from $105.00 to $110.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Finally, Bank of America increased their target price on shares of Crown from $110.00 to $117.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Ten analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $120.67.

Insider Activity at Crown

In other news, CAO Gerard H. Gifford sold 8,222 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $102.93, for a total value of $846,290.46. Following the sale, the chief accounting officer directly owned 122,585 shares of the company's stock, valued at $12,617,674.05. This represents a 6.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy J. Donahue sold 13,000 shares of the company'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 completion of the sale, the chief executive officer directly owned 449,056 shares in the company, valued at $45,139,109.12. This trade represents a 2.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,222 shares of company stock worth $5,873,770. 0.90% of the stock is owned by insiders.

About Crown

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.