RKL Wealth Management LLC Invests $219,000 in Crown Holdings, Inc. $CCK

RKL Wealth Management LLC bought a new position in shares of Crown Holdings, Inc. (NYSE:CCK) in the second quarter, HoldingsChannel reports. The institutional investor bought 2,131 shares of the industrial products company’s stock, valued at approximately $219,000.

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

Wall Street Analysts Forecast Growth

CCK has been the topic of several research analyst reports. Loop Capital increased their target price on shares of Crown from $129.00 to $140.00 and gave the stock 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. Wall Street Zen lowered shares of Crown from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 5th. UBS Group increased their target price on shares of Crown from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, July 22nd. Finally, Morgan Stanley increased their target price on shares of Crown from $114.00 to $118.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 25th. Ten investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.25.

Crown Stock Performance

NYSE CCK opened at $96.79 on Thursday. Crown Holdings, Inc. has a 1 year low of $75.98 and a 1 year 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. The firm has a market cap of $11.26 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 1.48 and a beta of 0.73. The company has a fifty day moving average price of $98.21 and a 200-day moving average price of $96.95.

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

Crown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders 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 1.1%. Crown’s dividend payout ratio is presently 21.85%.

Insider Buying and Selling at Crown

In other news, 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 value of $1,306,760.00. Following the completion of the sale, the chief executive officer owned 449,056 shares in the company, valued at $45,139,109.12. This represents a 2.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Gerard H. Gifford sold 8,222 shares of the stock in a transaction dated Friday, July 25th. The shares were 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 approximately $12,617,674.05. The trade was a 6.29% 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 valued at $5,873,770. Company 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.