Wealth Enhancement Advisory Services LLC Acquires 18,433 Shares of Crown Holdings, Inc. $CCK

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Crown Holdings by 119.8%, acquiring an additional 18,433 shares, bringing its total holdings to 33,822 shares valued at approximately $3.65 million.
• Crown Holdings reported a quarterly earnings per share (EPS) of $2.15, exceeding analysts' expectations of $1.86, alongside a revenue increase of 3.6% year-over-year to $3.15 billion.
• The company also announced a $0.26 quarterly dividend, which pays an annualized yield of 1.1%, reflecting a payout ratio of 21.85%.

Wealth Enhancement Advisory Services LLC increased its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 119.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 33,822 shares of the industrial products company's stock after buying an additional 18,433 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Crown were worth $3,649,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Northern Trust Corp grew its position in Crown by 13.7% during the 1st quarter. Northern Trust Corp now owns 1,242,250 shares of the industrial products company's stock worth $110,883,000 after acquiring an additional 149,339 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Crown by 155.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,793 shares of the industrial products company's stock valued at $158,000 after buying an additional 1,091 shares during the period. GAMMA Investing LLC raised its holdings in Crown by 110.3% in the 1st quarter. GAMMA Investing LLC now owns 1,201 shares of the industrial products company's stock valued at $107,000 after buying an additional 630 shares during the last quarter. Inspire Investing LLC acquired a new stake in Crown during the 1st quarter worth approximately $762,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in Crown during the 1st quarter worth approximately $820,000. Institutional investors and hedge funds own 90.93% of the company's stock.

Crown Trading Up 2.3%

Shares of Crown stock opened at $97.14 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67. The stock has a fifty day simple moving average of $98.71 and a 200 day simple moving average of $96.77. Crown Holdings, Inc. has a 12-month low of $75.98 and a 12-month high of $109.48. The company has a market capitalization of $11.30 billion, a P/E ratio of 20.41, a price-to-earnings-growth ratio of 1.45 and a beta of 0.73.

Crown (NYSE:CCK - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the prior year, the firm posted $1.81 EPS. The firm's quarterly 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. On average, sell-side analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were given a $0.26 dividend. 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 currently 21.85%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company raised their price target on shares of Crown from $101.00 to $110.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Loop Capital raised their target price on Crown from $129.00 to $140.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. UBS Group upped their price target on Crown from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Mizuho raised their price objective on Crown from $110.00 to $127.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, Baird R W downgraded shares of Crown from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Ten equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Crown currently has a consensus rating of "Moderate Buy" and a consensus price target of $120.67.

Insider Buying and Selling at Crown

In other Crown news, CAO Gerard H. Gifford sold 8,222 shares of the stock in a transaction 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 sale, the chief accounting officer owned 122,585 shares in the company, valued at $12,617,674.05. This represents a 6.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Timothy J. Donahue sold 13,000 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer owned 449,056 shares of the company's stock, 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. Over the last ninety days, insiders have sold 58,222 shares of company stock valued at $5,873,770. Insiders own 0.90% of the company's stock.

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.

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