Allspring Global Investments Holdings LLC Lowers Stock Holdings in Crown Holdings, Inc. $CCK

Allspring Global Investments Holdings LLC lowered its holdings in Crown Holdings, Inc. (NYSE:CCK) by 2.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 291,659 shares of the industrial products company’s stock after selling 7,438 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Crown were worth $30,720,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CCK. Larson Financial Group LLC boosted its holdings in 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 during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Crown by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 356 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 111 shares during the last quarter. Signaturefd LLC boosted its holdings in Crown by 161.2% in the first quarter. Signaturefd LLC now owns 397 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 245 shares during the last quarter. National Pension Service boosted its holdings in Crown by 74.4% in the first quarter. National Pension Service now owns 443 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 189 shares during the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in Crown in the second quarter valued at $46,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Crown Trading Down 0.4%

Shares of CCK opened at $90.39 on Thursday. The stock’s 50-day moving average is $96.67 and its two-hundred day moving average is $97.18. The stock has a market cap of $10.52 billion, a PE ratio of 18.99, a P/E/G ratio of 1.29 and a beta of 0.73. Crown Holdings, Inc. has a 12 month low of $75.98 and a 12 month high of $109.48. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.06 and a quick ratio of 0.69.

Crown (NYSE:CCK) last released its quarterly earnings results on Monday, July 21st. The industrial products company reported $2.15 EPS for the quarter, topping the consensus estimate of $1.86 by $0.29. Crown had a return on equity of 27.15% and a net margin of 4.64%.The business had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the previous year, the firm posted $1.81 earnings per share. 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. Equities analysts forecast that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were paid a $0.26 dividend. The ex-dividend date was Thursday, August 7th. This represents a $1.04 annualized dividend and a dividend yield of 1.2%. Crown’s payout ratio is 21.85%.

Analyst Upgrades and Downgrades

CCK has been the topic of a number of research analyst reports. Truist Financial upgraded Crown from a “hold” rating to a “buy” rating and set a $118.00 target price on the stock in a report on Friday, September 5th. Wells Fargo & Company reduced their target price on Crown from $113.00 to $97.00 and set an “equal weight” rating on the stock in a report on Wednesday. Wall Street Zen cut Crown from a “strong-buy” rating to a “buy” rating in a report on Friday, September 5th. UBS Group reduced their price objective on Crown from $130.00 to $117.00 and set a “buy” rating on the stock in a research note on Monday, October 6th. Finally, Morgan Stanley boosted their price objective on Crown from $114.00 to $118.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 25th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Crown has a consensus rating of “Moderate Buy” and a consensus target price of $116.62.

Insider Activity

In related news, CAO Gerard H. Gifford sold 8,222 shares of the business’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 transaction, the chief accounting officer owned 122,585 shares in the company, valued at approximately $12,617,674.05. The trade was a 6.29% 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. Also, CEO Timothy J. Donahue sold 37,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer 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 quarter, insiders sold 58,222 shares of company stock worth $5,873,770. Insiders own 0.90% of the company’s stock.

Crown Company 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.